Sure, we have all been affected by the strained economy. We have had to make significant changes in our lifestyles and our spending, but at the end of the day the hope is that the economy will come back and we will be an even better position, when it does, because of the adjustments we have been making. Movado is not ignoring this issue, either. In the past few years they have been redirecting their efforts in order to remain a strong viable watch company and offer their consumers quality products at reasonable prices.
Movado has closed all but just a few of their boutiques, and sell most of their watches through the internet and third party retailers. In addition to these changes, Movado recently announced a comprehensive multiyear plan, which will hopefully bring more success to the brand.
Movado is resolute on building business through these times, and have set forth some strategic initiatives to accomplish this goal. The outline of the plan is to;
- Capitalize on their excellent reputation.
- Continue to be an innovative force in the industry.
- Expand their global business.
- Generate sustainable sales growth.
Movado is not panicking through this era; they are keeping their nose to the grindstone and their eyes on the prize.