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Movado Group has entered a deal to acquire Millennial-favorite brand MVMT Watches, the company revealed today. MVMT is relatively new to the watch game. The direct-to-consumer brand was founded in 2013 by Jake Kassan and Kramer LaPlante. The duo have made their name on well-designed watches offered at an affordable price — typically under $200. They have since added sunglasses and accessories into the line. Watches, onetime declared a potential casualty of the Millennial generation, have proven a boon for the MVMT brand. Last year, the company, which is sold in more than 160 countries and carries a social media community of about 4.5 million followers, clocked $71 million in sales. “My philosophy is always that Millennials will buy watches as an accessory if it is relevant to them. Last year, we bought the Olivia Burton brand that is popular in the U.K., and this year, we are excited to buy MVMT, which has done it on steroids; it’s resonating with young people,” said Movado chief executive officer and chairman Efraim Grinberg, who refers to Kassan and LaPlante as “the kids.” Grinberg noted that the time was right for MVMT, which has “tremendous global potential. In working with them, we offer infrastructure that they’d have to beRead More...
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Mona Swanson is joining Michael Kors in the role of vice president of communications, U.S., a new position at the company. Dinesh Kandiah will continue his role as vice president of global communications, developing communications and marketing worldwide. Both Swanson and Kandiah report to Francesca Leoni, senior vice president, chief brand officer. Swanson, who starts her new role Aug. 20, is joining Kors from Valentino, where she previously worked with Leoni as vice president of communications, U.S. Read More...
They got scripted talking points and everything.
If you could live anywhere in the world, where would it be? According to a new report, there’s one practical answer
Lands’ End has opened its first New York store, in the Staten Island Mall, and is seeking other locations around the city. “We are exploring more options in the New York metropolitan area,” a spokeswoman told WWD. Lands’ End has previously operated holiday pop-up stores in Manhattan, but until Staten Island, didn’t have a permanent city door. The company is winding down its network of shops-in-shop inside Sears stores around the country and seeking to build up sales by rolling out stores. There are about 150 Lands’ End shops inside Sears, but by the end of the third quarter, no more than 132 will be operating. Lands’ End has 14 stores, including outlets. The next store opening will be in mid-September at Chimney Rock in Bridgewater, N.J. Staten Island is the third of the four to six stores Lands’ End plans to open in 2018. Earlier this year, Lands’ End opened stores in Kildeer, Ill., and Burlington, Mass. Lands’ End president and chief executive officer Jerome Griffith, previously said the new Kildeer store, which opened last April in an open-air center outside Chicago, is “the blueprint” for future freestanding stores. “Open-air centers seem to work for us,” Griffith said. “Our customer likes the convenience.Read More...
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