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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): November 12, 2024

 

MOVADO GROUP, INC.
(Exact name of registrant as specified in its charter)

 

New York 1-16497 13-2595932
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (I.R.S. Employer
Identification No.)

 

650 FROM ROAD, SUITE 375

PARAMUS, NJ 07652-3556

(Address of principal executive offices) (Zip Code)
 
(201) 267-8000
(Registrant’s Telephone Number, Including Area Code)
 
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

  ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     
  ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     
  ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     
  ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)  

Name of each exchange

on which registered

Common stock, par value $0.01 per share   MOV   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On November 12, 2024, Movado Group, Inc. (“MGI”) and its wholly owned subsidiary, Swissam Products Limited (“SPL” and together with MGI, the “Company”), entered into a letter agreement (the “Extension Letter”) pursuant to which the License Agreement between the Company and Tommy Hilfiger Licensing LLC (“THL”) dated January 1, 2020 (the “Existing Agreement”), was extended for an additional five years ending December 31, 2029. The Extension Letter specifies minimum sales of licensed products and an incremental marketing budget during the extension period. The remaining provisions of the Existing Agreement remain unchanged.

 

The Company intends to file the extension letter as an exhibit to its quarterly report on Form 10-Q for the fiscal quarter ending October 31, 2024, and will seek confidential treatment of certain terms in the letter at such time.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: November 15, 2024

 

  MOVADO GROUP, INC.  
       
  By: /s/ Mitchell Sussis  
  Name: Mitchell Sussis  
  Title: Senior Vice President, General Counsel and Secretary  

 

 

 

 

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Cover
Nov. 12, 2024
Cover [Abstract]  
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Document Period End Date Nov. 12, 2024
Entity File Number 1-16497
Entity Registrant Name MOVADO GROUP, INC.
Entity Central Index Key 0000072573
Entity Tax Identification Number 13-2595932
Entity Incorporation, State or Country Code NY
Entity Address, Address Line One 650 FROM ROAD
Entity Address, Address Line Two SUITE 375
Entity Address, City or Town PARAMUS
Entity Address, State or Province NJ
Entity Address, Postal Zip Code 07652-3556
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Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock, par value $0.01 per share
Trading Symbol MOV
Security Exchange Name NYSE
Entity Emerging Growth Company false
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