Movado Partners With Derrick Adams to Unveil New Artist Series Collection

Rhea-AI Summary

Movado Group (NYSE: MOV) has announced a new Artist Series collaboration with renowned black artist Derrick Adams. The -edition collection features watches and clocks that combine Adams' contemporary cubism style with Movado's iconic Museum Dial design.

The collection includes five watch designs with 125 pieces each, including 25 collectors sets. Additionally, two watch designs have been transformed into wall clocks, with 125 pieces of each available. Five collectors sets and 20 of each wall clock were donated to the Studio Museum of Harlem.

This marks the latest addition to Movado's Artist Series, which spans four decades of collaborations with world-renowned artists. The collection aims to celebrate the Black experience through vibrant colors and contemporary design, creating wearable works of art that blend luxury timepieces with artistic expression.

Positive

• Launch of exclusive -edition collection with potential collector value
• Strategic brand positioning through collaboration with prominent contemporary artist
• Expansion of product line to include wall clocks, a first for Movado's Artist Series

Negative

• None.

Insights

Market Research Analyst

This collaboration, while creatively interesting, represents a commercial impact for Movado Group. The collection consists of only 625 watches (125 pieces each of 5 designs) and 250 wall clocks (125 each of 2 designs). Given Movado's typical price points and the nature of the collection, even with premium pricing, this partnership likely represents less than $2 million in potential revenue - a minimal impact for a company with a market cap of $417 million.

The artistic collaboration follows Movado's established pattern of artist partnerships, including past works with Andy Warhol and Carmen Herrera. While these collections help maintain Movado's brand positioning in the luxury segment and may generate some media attention, they historically haven't been significant revenue drivers. The donation of collector sets and wall clocks to the Studio Museum of Harlem, while culturally meaningful, further reduces the commercial potential of this release.

For retail investors, this news represents a continuation of Movado's brand strategy rather than a material business catalyst. The production run means this collection won't meaningfully affect the company's financial performance or stock value.

Exclusive collaboration highlights Adams' vision of the black experience through contemporary cubism and Movado's iconic Museum Dial with limited edition watches, clocks and collectors set

PARAMUS, N.J., Jan. 17, 2025 /PRNewswire/ -- Movado Group, Inc. (NYSE: MOV) is proud to announce its new Artist Series collaboration with Derrick Adams, a multidisciplinary artist, and one of the leading black artists of the 21st century. This collaboration celebrates the Black experience, employing vibrant and joyous colors by pairing iconic design with contemporary cubism. Adams has held several solo exhibitions at institutions across the country, including The Cleveland Museum of Art, The Momentary, Crystal Bridges Museum of American Art, Hudson River Museum, and the Museum of Arts and Design. 

Movado's Artist Series reflects four decades of collaborations with world renowned artists, including Andy Warhol, James Rosenquist, and Carmen Herrera, to craft curated collections that represent wearable works of art. For this collaboration, Movado will feature a limited-edition collection that pairs Derrick Adams' vibrant pieces and singular style with Movado's iconic Museum Dial- - translating his strong command of texture and passion for color onto each piece.

"We are excited to partner with Derrick Adams on this unique partnership, which blends timeless craftsmanship with his visionary artistry," said Efraim Grinberg, Chairman and CEO, Movado Group. "At Movado, we've always believed that a great watch is not just a tool to tell time, but also a work of art that tells a story. This partnership brings together our legacy of precision and luxury with Derrick Adams' unmatched creativity and expression. We're thrilled to offer this exclusive collection to our consumers and collectors worldwide."

"It's been a pleasure to collaborate with such a forward-thinking team at Movado, and I'm incredibly proud of what we've created together," said Derrick Adams. "Time, much like art, is something we experience, interpret, and cherish in unique ways, and each watch represents not just the passage of time, but moments of inspiration and individuality. The watches in this collection were designed with the same level of dedication and attention to detail as a gallery piece, and I wanted to ensure each one felt personal for its wearer. For me, it's about producing something that lasts, resonates and captures the essence of who we are at this moment in time, and Movado's watches exemplify this concept to the fullest."

Within the Artist Series, the resulting designs are true collectors items - watches as wearable art and gallery-worthy wall clocks. The exclusive Derrick Adams X Movado limited edition collection includes five watches in the series with 125 pieces of each design including a total of 25 collectors sets. All watches are individually numbered on the caseback. This is the first time Movado and an artist have designed a clock in an Artist Series collaboration. Two of the five watch designs were transformed into a wall clock; 125 of each clock are available for purchase. Five collectors sets and 20 of each of the wall clocks were donated to the Studio Museum of Harlem by Derrick Adams and Movado.

About Derrick Adams:
Derrick Adams is a multidisciplinary artist living and working in Brooklyn, New York and one of the leading Black artists of the 21st century. Adams' art celebrates the Black experience, employing vibrant colors and a contemporary-cubist style that draws on the richness of Black culture. He received his BFA from Pratt Institute, New York, in 1996 and graduated with an MFA from Columbia University, New York, in 2003. In addition to his critically acclaimed art practice, Adams has held numerous teaching positions and is currently a tenured assistant professor in the School of Visual, Media and Performing Arts at CUNY Brooklyn College. He also holds an honorary doctorate from Maryland Institute College of Art.

About Movado Group:
Movado Group, Inc. designs, sources, and globally distributes and sells MOVADO®, MVMT®, OLIVIA BURTON®, EBEL®, CONCORD®, CALVIN KLEIN®, COACH®, TOMMY HILFIGER®, HUGO BOSS®, and LACOSTE® watches and, to a lesser extent, jewelry and other accessories, and operates Movado Company Stores in the United States and Canada.

Contact for Movado Group, Inc.:
Heather Cohen Sugarman
Hcohen@movadogroup.com
Vice President, Public Relations

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SOURCE Movado Group, Inc.

FAQ

What is included in the Movado x Derrick Adams Artist Series collection?

The collection includes five -edition watch designs (125 pieces each), 25 collectors sets, and two wall clock designs (125 pieces each).

How many pieces of the MOV Derrick Adams collection will be produced?

The total production includes 625 watches (five designs x 125 pieces) and 250 wall clocks (two designs x 125 pieces).

How many Derrick Adams x MOV pieces were donated to the Studio Museum of Harlem?

Five collectors sets and 40 wall clocks (20 of each design) were donated to the Studio Museum of Harlem.

What makes the MOV Derrick Adams Artist Series unique from previous collections?

This is the first time Movado has included wall clocks in an Artist Series collaboration, and it features Adams' contemporary cubism style celebrating the Black experience.