Watch Watch

MOVADO STRATEGIES Boutiques, Diversification, Sales Penetration The Movado Group is going into the market to raise about $28 million. It plans, among other things, to use the cash to launch a line of retail boutiques and expand its product lines into women's and men's jewelry, pens, desk accessories and a variety of tabletop items. The first boutique should open in the New York metropolitan area next spring. Movado also expects to launch its previously-announced original line of Coach watches in the spring. The company inked an exclusive 10-year agreement with Coach in December 1996 to develop and distribute Coach watches worldwide. The prospectus for the new offering reveals a confident company with rising sales, improving gross margins and an aggressive four-point strategy for business development. The strategy: - Increase sales in the U.S., Canada and the Caribbean, markets
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