Movado Group Enters Material Definitive Agreement
Ticker: MOVAA · Form: 8-K · Filed: Oct 3, 2024 · CIK: 72573
| Field | Detail |
|---|---|
| Company | Movado Group INC (MOVAA) |
| Form Type | 8-K |
| Filed Date | Oct 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
TL;DR
Movado Group signed a big deal on 9/12, details TBD.
AI Summary
Movado Group, Inc. entered into a Material Definitive Agreement on September 12, 2024. The filing does not disclose the specific details of this agreement, only its existence and the date it was entered into.
Why It Matters
This filing indicates a significant new contract or partnership for Movado Group, the details of which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty regarding its terms and potential impact on the company.
Key Players & Entities
- MOVADO GROUP, INC. (company) — Registrant
- September 12, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the Material Definitive Agreement entered into by Movado Group, Inc.?
The filing does not specify the nature of the Material Definitive Agreement, only that one was entered into on September 12, 2024.
When was the Material Definitive Agreement entered into?
The Material Definitive Agreement was entered into on September 12, 2024.
Is there any information about the parties involved in this agreement?
No, the filing does not disclose the other parties involved in the Material Definitive Agreement.
What is the financial impact expected from this agreement?
The filing does not provide any details regarding the financial impact of this agreement.
Where is Movado Group, Inc. headquartered?
Movado Group, Inc.'s principal executive offices are located at 650 From Road, Suite 375, Paramus, NJ 07652-3556.
Filing Stats: 538 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-10-03 17:15:18
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share MOV New York Stock Exchan
Filing Documents
- eh240539919_8k.htm (8-K) — 25KB
- 0000950142-24-002514.txt ( ) — 194KB
- mov-20240912.xsd (EX-101.SCH) — 3KB
- mov-20240912_lab.xml (EX-101.LAB) — 33KB
- mov-20240912_pre.xml (EX-101.PRE) — 22KB
- eh240539919_8k_htm.xml (XML) — 4KB
01
Item 1.01 Entry into a Material Definitive Agreement. On September 12, 2024, Movado Group, Inc. (the "Company") and Swissam Products Limited, a wholly owned Hong Kong subsidiary of the Company ("SPL"), entered into the Fifth Amendment (the "Amendment") to the Amended and Restated License Agreement dated January 13, 2015 (as previously amended, the "Existing License Agreement") with Tapestry, Inc. (f/k/a Coach, Inc.). The Amendment amends the Existing License Agreement by, among other things, (1) extending the term of the agreement from June 30, 2025 to June 30, 2028 and (2) specifying or revising, as the case may be, the sales minima, royalty rates, minimum royalties and minimum advertising expenditures for the contract years ending June 30, 2024 through June 30, 2028. The other material provisions of the Existing License Agreement remain substantially unchanged. The Company intends to file the Amendment 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 Amendment at such time.
SIGNATURES
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: October 3, 2024 MOVADO GROUP, INC. By: /s/ Mitchell Sussis Name: Mitchell Sussis Title: Senior Vice President, General Counsel and Secretary