Movado is a watch company who wants to come through these tough economic times smelling like a rose, and to accomplish that, they must plan ahead and make some crucial choices. This year Movado will close many of their retail sales boutiques, making room for more revenue through third party sales, via the internet and through other retailers. This change is huge for the Swiss watch maker, but will not (on its own) promise a bright future. The experts at Movado have a few more surprises for us, one of which is the promotion of Joe Faranda. Faranda is a global marketing expert and is Movado’s new Senior Vice President of Consumer Insights and Strategic Planning. This position is new and created especially for Faranda. He will report directly to Chairman and CEO of Movado Group, Inc, Efraim Grinberg. In this new position Mr. Faranda will be responsible for overseeing product development and marketing strategies for Movado and ESQ for Movado. He has been brought in to utilize his expertise and to bring Movado through this time, hopefully with flying colors. Movado’s position is to stay strong through these times, to be smart, and to come out the other end more successful than when they went in.
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