PARAMUS, N.J., Nov. 20 /PRNewswire-FirstCall/ -- Movado Group, Inc.
(NYSE: MOV), today announced the opening of two new Movado boutiques. The
first boutique, in the Chestnut Hill Mall, located just outside of Boston,
represents the Company's 13th boutique and its first in the Boston area. The
Company also marked its entry into the Chicago market with the opening of its
14th boutique, located northwest of Chicago in the Woodfield Mall.
Efraim Grinberg, President and Chief Executive Officer of Movado Group,
commented, "We are pleased to have established a retail presence in the key
Boston and Chicago markets in time for the important holiday shopping season.
These boutiques represent a continuation of our strategy to enhance the image
of Movado as a lifestyle brand."
The new locations in Woodfield and Chestnut Hill occupy approximately
2,400 and 2,800 square feet, respectively, to optimally showcase an increased
merchandise assortment featuring the Company's world-renowned Movado watches,
as well as an extensive selection of exclusively designed Movado jewelry, home
decorative objects, personal desk accessories and gift items that reinforce
the Movado image.
Movado Group, Inc. designs, manufactures, and distributes Movado, Concord,
ESQ, Coach and Tommy Hilfiger watches worldwide, and operates Movado boutiques
and Company stores in the United States.
This press release contains certain forward-looking statements with
respect to the future performance of Movado Group that involve risks and
uncertainties. Movado's actual results could differ materially from those
expressed or indicated by forward-looking statements. Factors that could cause
or contribute to such differences include, but are not limited to, the
Company's ability to successfully introduce and sell new products, changes in
consumer demand for the Company's products, risks relating to the retail
industry, import restrictions, competition, seasonality and other factors
discussed in Movado's filings with the Securities and Exchange Commission.
SOURCE Movado Group, Inc.
/CONTACT: Rick Cote, Executive Vice President and Chief Operating
Officer, +1-201-267-8000, or Investor Relations - Suzanne Michalek, Director
of Corporate Communications, +1-201-267-8000, both of the Movado Group, Inc.;
or Investor Relations - Melissa Myron, or Press - Stephanie Sampiere, both of
Financial Dynamics, +1-212-850-5600, for Movado Group, Inc./
/Web site: http://www.movadogroup.com /
CO: Movado Group, Inc.
ST: New Jersey
IN: REA FAS HOU
-- NYTH020 --
6326 11/20/2003 10:00 EST http://www.prnewswire.com