A Watch That Will Match High Technology and Elegant Tradition
This fall, Movado will introduce a touch screen smartwatch that includes modern mid-twentieth-century design in the new millennium with state-of-the-art technology.
According to the company «will be one of the earliest watches designed specifically for Android Wear 2.0, this smartwatch has more than 100 fascinating dialing variations. Each sphere explores the iconic single-point design of Movado with a new bright color, dimension, complication, details and transformation from day to night. «
Movado Connect offers a modern design aesthetic with edge-to-edge glass and an «always-on» display. Along with the latest technology platform, you can access thousands of applications, receive / read notifications and integrate with Google fit and health app, and supports the Google Assistant to perform tasks, get answers, prompts and reminders. This new collection is launched this fall with 5 styles of men featured on a strap or bracelet, powered by Android Wear.
Some facts about Movado Group Inc
Movado Watch is a manufacturer of watches of great prestige, whose name means «always in movement» in Esperanto. The company was founded in 1881 and later went on to become a leading brand in watch making. It was a small workshop in La Chaux-de-faunds, Switzerland, where thanks to the talent of Ditisheim Achille along with a group of six pioneers master watchmakers, they started a journey that continues to this day.
One of the world’s leading watchmakers, Movado Group, Inc. (MGI) designs, manufactures and distributes its products from several of the most recognized and respected names in our time :, with exclusive proprietary brands (Movado, Concord and EBEL) along with their watches manufactured under license from HUGO BOSS, Juicy Couture, Lacoste, Tommy Hilfiger or Ferrari.
From Swiss luxury watches to affordable fashionable watches, each of the brands is recognized for its inherent quality and distinctive image, which includes its peculiar circle at 12, along with its black spheres without indices. Sales of Movado watches span North and South America, Europe, Asia and the Far East. It has a factory in Switzerland, headquarters in Paramus, New Jersey, United States and Bienne, Switzerland, and sales and distribution offices around the world. Movado Group currently employs more than 1,300 people.
Discreet sales, solid balance
Movado Group management believes that «it effectively managed a challenging retail environment in the last year. During the year, sales reached US $ 552.8 million, earning US $ 1.51 per share. Although these results were lower than those of the previous year (7% in terms of sales, 20% in GAP), our staff has been able to adapt to a difficult scenario, changes in retailing and in terms of consumer habits, while experiencing an acceleration of our online sales.»
Despite this reduction in sales figures and the fall in earnings per share, there is no doubt that Movado Group has a solid balance sheet, with enviable liquidity ratios (close to 4 times, when it is usually considered acceptable that exceeds 2), low indebtedness and a cash figure, which at the end of the fiscal year (01/31/2017) exceeded 250 million USD.
The company is listed on the New York Stock Exchange and its price as of yesterday was 27.51 USD. Taking base 100 beginning in 2013, the price has gone up in 2017 to 160, while the general index has grown to 180 and the SmallCaps 600 index (small companies) has done so until 201.
Undoubtedly, Movado Group must use with intelligence that great surplus of liquidity that has, to adapt to the technological and distribution change that affects the watch industry. The launch of Movado Connect, can be considered a good move in this regard.
