Movado To Shut Down Retail Watch Boutiques
While Movado hasn't done spectacularly over the last few years, they haven't seemed to do worse that other competitor watch brands that have equally been hit by the 'tragically bad for luxury items' recession. Movado group seems to site a lack of overall profitability recently, and sees the closure of its boutique store division as a serious help in moving back towards profitability. Not all is lost though, Movado will retain one boutique store as its flagship retail location, the Movado boutique in Rockefeller Center in New York City. Most of the Movado outlet stores will remain in operation. In addition to Movado, the group also makes and markets ESQ and Ebel watch brands. Most famous for making the Museum Face Watch one of the most iconic timepieces around, the last few years have arguably seen some of Movado's strongest product offerings in years. Movado will place most of its efforts on its wholesale business, so consumers looking for Movado watches will simply go to one of their many authorized dealers.
Ariel Adams publishes the luxury watch review site aBlogtoRead.com.