The Movado Group has entered into a long-term worldwide license pact with lifestyle brand Lacoste S.A. to design, produce, market, and distribute a collection of men’s and women’s timepieces, effective Jan. 1, 2007. Financial terms weren’t disclosed.
The new collection will feature “stylish timepieces with a contemporary sport elegant feel,” said a Movado statement; retail for $195 to $595; and be available at fine department stores, specialty stores, fine jewelers, and Lacoste retail stores worldwide. It will be launched in spring 2007 at the BaselWorld watch fair in Switzerland.
“Lacoste is truly a global power- house brand,” said Rick Cote, exec VP and COO of the Movado Group. “We believe the combination of strongly differentiated timepieces at the high end of the fashion watch category, together with the power and longevity of the Lacoste brand is an excellent opportunity for both companies.”
Lacoste, known for its crocodile icon, was founded in 1933 by tennis star and Davis Cup winner René Lacoste, who began manufacturing a tennis shirt that revolutionized men’s sportswear and was the first in a range of lifestyle fashion clothes, shoes, fragrances, handbags, eyewear, home wear, and now watches. In 2005, 48 million items under the Lacoste brand were sold in 110 countries for $1.6 billion.
The Movado Group designs, manufactures, and distributes Coach, Concord, Ebel, ESQ, Hugo Boss, Movado, and Tommy Hilfiger watches worldwide; operates Movado boutiques and stores in the United States; and plans to launch Juicy Couture watches in fall of 2006.