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Concord global president exits at Movado

June 12, 2009

Paramus, N.J.--Movado Group announced that Vincent Perriard, global president of Concord, will be leaving the company and that details on a new management team for the brand will be released in upcoming weeks.

The Swiss watch brand, which was re-envisioned in 2007 to put the focus on crafting high-end timepieces in limited quantities within a tighter distribution network, remains committed to the "successful brand strategy that has been in place for the past two years," the company said in a release issued on Friday. Concord will continue to develop its "C1 QuantumGravity" timepiece which was introduced at BaselWorld, as well as its "Concord C1" collection.

"We have an exciting product development schedule and the market has responded favorably to our innovative and cutting-edge new products," said Efraim Grinberg, Movado Group Inc. chairman, president and chief executive officer in the release. He added that the company's "excellent management team in Switzerland and around the world will support the Concord brand over the interim."

Perriard was brought on to oversee the brand's repositioning in 2006 after stints at luxury watch brand Audemars Piguet and Swatch Group's mid-priced Hamilton brand.

Movado Group also designs, manufactures and distributes Movado, Ebel, Concord, ESQ, Coach, Hugo Boss, Lacoste, Juicy Couture and Tommy Hilfiger watches worldwide and operates Movado boutiques and company stores in the United States.
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