Movado has 380 watches. It needs 35. Here's the plan.

I. Executive manifesto

The problem

The vision

Movado Group will become Movado. A modern European watch house with global relevance.

We will drop everything that isn't Movado, every licence, every distraction, and rebuild from the core. A focused, design-driven manufacture that celebrates our 145-year heritage while defining contemporary horology.

We'll follow the Tudor playbook: build authenticity first, volume second. We'll be mentioned alongside Ming for design, Furlan Marri for purity, Norqain for energy.

II. Portfolio architecture

Core philosophy

“Perfection is achieved not when there is nothing more to add, but when there is nothing left to take away.”Antoine de Saint-Exupéry

• One brand, one voice.
• Seven families only.
• 35 SKUs, not 380.

We'll curate like Ming, design like Furlan Marri, and build community like Norqain.

The seven pillars of Movado

1. Museum Collection · the iconMuseum Classic, Imperiale, Sport · $595–$3,995 · 15,000 unitsThe face of timeless modernism.
2. Heritage Chronographs · the enthusiastRef. 95-704-568 Revival, Datron Tribute · $2,500–$7,500 · 5,000 unitsA love letter to collectors.
3. Heritage Time-Only · the puristRef. 12706, Sector Dial Revival · $1,500–$4,500 · 8,000 units
4. 1917 Collection · the modernist1917 Automatic, annual limiteds · $2,000–$5,000 · 6,000 units
5. Calendoplan Series · the complicationTriple calendar and moonphase · $3,500–$8,500 · 3,000 units
6. Kingmatic · the tool watchGMT and diver, 300 m water resistance · $2,500–$5,500 · 4,000 units
7. Lab Series · the experiment100–500 piece drops · $5,000–$15,000 · 1,000 unitsCollaborations and new materials.

Total: 42,000 units at a $3,200 average price, $135M of revenue at 68% gross margin.

III. Restructuring plan

Phase 1: simplify to greatness

• Sell or license all non-Movado brands.
• MVMT: a strong D2C brand to sell.
• Olivia Burton: an MBO, maybe?
• Ebel and Concord: IP liquidation for peanuts.
• Focus 100% of capital and creativity on Movado.

Phase 2: operational reset

• Headcount: 1,500 → 250
• OPEX: $350M → $65M
• Gross margin: 55% → 68%
• EBITDA margin: 10% → 21%+

Simplicity compounds profit.

IV. The Tudor playbook

What Tudor did

• Built in-house movements (MT5601).
• Reissued authentic heritage.
• Created collector credibility before marketing noise.
• Found its own design language.

What Movado will do

• Partner with Kenissi to co-develop movements.
• Relaunch five heritage pieces with surgical precision.
• Price fairly, communicate transparently.
• Build long-term respect with the enthusiast community.

V. The Ming, Furlan Marri, Norqain triangle

From Ming: scarcity as strategy

• Limited drops (Tuesday, 3 PM), no preorders.
• Radical transparency in pricing.
• A community-first approach.
• Movado Collectors Club, 1,000 founding members.

From Furlan Marri: purity in design

• No-logo confidence, restraint as luxury.
• Sector dials, proportion, detail.
• Movado Design Studio, bridging New York and Switzerland.
• A storytelling partnership with Hodinkee.

From Norqain: energy and identity

• An “Independent by Design” campaign.
• Collaborations with creators who share our craftsmanship ethos.
• Social first: TikTok and YouTube, daily.

VI. The new financial model

The upside case

• Base: $45–55 a share (2–3×).
• Bull: $100 a share (5×).
• A $2.2B valuation at 12× EV/EBITDA.
• Movado becomes a billion-dollar brand with cash to spare.

VII. Distribution revolution

Phase 1 (2025–26)

• 70% direct to consumer.
• Three flagships: New York, Los Angeles, Miami.
• Exclusive collaborations with Hodinkee and Watches of Switzerland.

Phase 2 (2027–29)

• Ten boutiques worldwide.
• 50% D2C, 35% premium retail, 15% online partners.

Drop calendar

• First Tuesday: Heritage, 500 pieces.
• Third Tuesday: Lab Series, 100 pieces.
• Sellout target: 48 hours.

Scarcity builds desire. Desire builds value.

VIII. Brand and marketing transformation

Budget: $25M, focused, not scattered

• $10M for a content studio: documentaries, YouTube, TikTok, long-form storytelling.
• $8M for community: events, Discord, our own platform.
• $7M for strategic partnerships: MoMA, design media, exhibitions.

What we'll say

• “Independent since 1881.”
• “Designed in New York. Made in Switzerland.”
• “Time as modern art.”

What we'll never say

• “Affordable luxury.”
• “Swiss quality at better prices.”

IX. Manufacturing strategy

• Phase 1: a partnership with Kenissi, co-developing an exclusive movement.
• Phase 2: an assembly facility in La Chaux-de-Fonds, 30–40k units a year.
• Phase 3: Movado Design & Dial Studio, design-led prototyping across New York and Switzerland.

Movement mix

• 95% Sellita and ETA, with finishing.
• 5% Kenissi, for the top line.
• 0% in-house vanity projects.

X. Organisational principles

• Enthusiasm first: build for collectors, not accountants.
• Scarcity value: always underproduce.
• Community obsession: every buyer becomes a member.
• Long-term horizon: build for decades, not quarters.

Key hires (2025–26)

• Chief product officer, ex-Tudor, Oris or Nomos.
• Creative director, an industrial designer, not a marketer.
• Head of digital, from Hodinkee, StockX or Tudor.
• Retail experience with Aesop or Byredo DNA.

XI. First 100 days

• Board approval for the transformation.
• Hire Evercore, Lazard or whoever for the asset sales.
• Freeze all new SKUs.
• Publish a design-led manifesto.
• Begin divesting the non-core brands.
• Launch the first heritage design brief.
• Begin recruiting the collector community, 1,000 founding members.

XII. Risk mitigation

• Revenue cliff: a $460M cash runway buys about three years.
• Execution risk: sell assets fast, even at a discount.
• Brand transition: from Museum under $1,000 to Lab pieces at $15,000.
• Competition: act fast, build community faster.
• Macro risk: a low fixed cost base and high variable flexibility.

XIII. 2030 vision: the five-bagger case

Business metrics

• Revenue: $450M
• EBITDA: $180M (40%)
• Market cap: $2.2B
• Share price: $100+, five times in five years

Brand metrics

• 2M engaged followers
• Waitlists on 10+ models
• At least 50% D2C
• 15k Collectors Club members
• 85% resale value retention

Cultural metrics

• MoMA partnership renewed
• The main hall at Watches & Wonders
• Hodinkee's “Value Proposition” award
• Collaborations with leading designers and cultural icons

XIV. Why now, and why it's realistic

• Microbrands proved it works: Ming, Furlan Marri, Brew.
• Tudor proved the playbook, from $100M to $1B in a decade.
• Movado has the balance sheet: $260M of cash, zero debt.
• The enthusiast market is exploding, with millions of collectors worldwide.

We're redefining what independent luxury looks like: global design, real craftsmanship.

Final word

The math works. The story works. And the ambition matters.

• Cash available: $470M
• Transformation cost: $240M
• Retained for growth: $230M
• Target EV (2029): $2.2B
• Share price: $100+

Movado has heritage, design, capital and time. Now it needs courage.

I'm an investor and operator who believes Movado Group holds one of the most undervalued heritages in modern horology. If the company's leadership chooses to pursue the kind of transformation outlined here, I'd be open to taking part and helping execute it, whether in the public markets or in a privatised structure.