Movado Group To Acquire MVMT

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Racer-X
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Movado Group To Acquire MVMT

Post by 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

Post by 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

Post by 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.
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Re: Movado Group To Acquire MVMT

Post by 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.
The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents.
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I'd send them all an animated gif of Ron Jeremy sucking his own cock.
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Re: Movado Group To Acquire MVMT

Post by 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

Post by 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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