Movado Group To Acquire MVMT

Movado Group To Acquire MVMT

Postby Racer-X » August 16th 2018, 4:20pm

"Movado Group has entered into an agreement to acquire MVMT, the popular, millennial-focused watch and accessories brand, for $100 million, or approximately "85 million net of tax benefits," Movado said in a press release. This is in addition to two future payments that could add up to an additional $100 million before tax benefits, depending on MVMT's future performance as part of Movado's portfolio.

MVMT was founded in 2013 by Jacob Kassan and Kramer LaPlante, two California-based twenty-somethings who had a vision to sell affordable, stylish watches to people their own age. It's hard to argue with the success of that vision. Last year, MVMT achieved revenue of approximately $71 million, largely through a direct-to-consumer business model. Kassan and LaPlante will continue to operate MVMT under the structure of the deal."

https://www.hodinkee.com/articles/movado-group-acquires-mvmt
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Re: Movado Group To Acquire MVMT

Postby conjurer » August 16th 2018, 4:48pm

$71 million!? I didn't think all the millennials put together had that kind of disposable (!) income!!
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Re: Movado Group To Acquire MVMT

Postby Thunder1 » August 16th 2018, 4:50pm

conjurer wrote:$71 million!? I didn't think all the millennials put together had that kind of disposable (!) income!!

A lot of their parents do, though... :???:
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Re: Movado Group To Acquire MVMT

Postby smellody » August 16th 2018, 4:55pm

Argh. So stupid. I hate those hipster commercials.

"You know that expensive watch you have always wanted? Now you can have it for a fraction of the cost."

Quartz junk.
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Re: Movado Group To Acquire MVMT

Postby Racer-X » August 16th 2018, 4:57pm

Affordable. Luxury. From the comfort of your parent's basement.
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Re: Movado Group To Acquire MVMT

Postby conjurer » August 16th 2018, 4:59pm

Racer-X wrote:Affordable. Luxury. From the comfort of your parent's basement.


I was going to type TMMLH, but I'm waiting for my Grubhub and then for an Uber to take me to the skateboard park.
I checked you out, and I now want you to take the journey to lick my taint. It's small, but vast.


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Re: Movado Group To Acquire MVMT

Postby MKTheVintageBloke » August 16th 2018, 6:38pm

If a manufacturer of such revolting rubbish has truly made that much money on selling it, then even a rough estimate of the quantity of these things sold leads me to the one and inevitable conclusion, that this world of ours is well and truly fucked.
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Re: Movado Group To Acquire MVMT

Postby JAS1125 » August 16th 2018, 7:05pm

MKTheVintageBloke wrote:If a manufacturer of such revolting rubbish has truly made that much money on selling it, then even a rough estimate of the quantity of these things sold leads me to the one and inevitable conclusion, that this world of ours is well and truly fucked.


Well said
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Re: Movado Group To Acquire MVMT

Postby artman » August 16th 2018, 8:03pm

I say good for them! I love a success story... it's the Amercian Frickn Dream. I won't be surprised if these 2 guys end up running the place. Kudos fellas!
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Re: Movado Group To Acquire MVMT

Postby koimaster » August 16th 2018, 11:30pm

smellody wrote:Argh. So stupid. I hate those hipster commercials.

"You know that expensive watch you have always wanted? Now you can have it for a fraction of the cost."

Quartz junk.



Not all quartz are bad but this cheap shit makes croton look like a luxury brand.

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Re: Movado Group To Acquire MVMT

Postby Falstaff » August 17th 2018, 7:08am

Millennials....
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