Earlier today it was announced that Movado Group Inc. plans on purchasing MVMT Watches. According to reports, Movado will pay $100 million USD initially with future contingent payments of $100 million in the future.

Notable Quotes: “The acquisition of MVMT will provide us greater access to millennials and advances our Digital Center of Excellence initiative with the addition of a powerful brand managed by a successful team of highly creative, passionate and talented individuals.” – Movado Chief Executive Efraim Grinberg