Movado has not been in business for over 150 years without learning a thing or two about remaining in the game. This famous, and quite successful watch maker understands the concept of supply and demand, and that understanding has lead them to the realization that they must downsize their retail operations this year. Movado has, for many years run a thriving retail business. Their boutiques are unique and offer Movado creations that you may not even know about. They also sold Movado jewelry and other accessories from the company. Today, when most watch makers sell their goods through third party companies, Movado remained true to their individuality, by offering their creations through company owned shops. But, after doing the numbers, it was clear that the boutiques had to go. This year Movado will shut down all but just a few of their company boutiques. The watch maker’s profits are largely determined by their sales through other retailers, and with on line shopping becoming so popular, these luxury shops simply don’t make sense, anymore. It’s a shame, really that we would rather sit in a room all alone, and shop through a monitor, than walk into a beautiful boutique and interact with another person, but that is a sign of the times!
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