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Movado Group acquires watch startup MVMT
2018-08-17T20:25:58Z - John Biggs / TechCrunch
The Movado Group, which sells multiple brands including Lacoste, Tommy Hilfiger and Hugo Boss, has purchased MVMT, a small watch company founded by Jacob Kassan and Kramer LaPlante in 2013. The company, which advertised heavily on Facebook, logged $71 million in revenue in 2017. Movado purchased the company for $100 million. MVMT makes simple watches for the Millennial market in the vein of Fossil or Daniel Wellington. MVMT is well-known as a “fashion brand,” namely a brand that sells cheaper quartz watches that are sold on style vs. complexity or cost.

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