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Movado's Gedalio 'Gerry' Grinberg dies

January 05, 2009

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Movado Group founder and chairman Gedalio Grinberg.

Paramus, N.J.--Movado Group founder and chairman Gedalio "Gerry" Grinberg, widely considered a visionary in the watch industry, has died. He was 77.

Over a distinguished 60-year career, during which time he built a reputation as a leader, entrepreneur and patron of the arts, Grinberg became the first recipient of the Jewelry Information Center's Lifetime Achievement Award.

Grinberg, who said in a 2008 interview that "watches measure time, and I have always been fascinated by what a person does with their time," gained notice for his ability to recognize the potential cache of luxury watches and market them accordingly.

He was born in Cuba in 1931, and after arriving in the United States in 1960, became the exclusive distributor for Piaget and Corum watches in the Americas. With the two brands, he founded the North American Watch Co., today known as Movado Group.

After establishing a $30 million-plus business, Grinberg made the decision to shift the company's focus to designing, manufacturing, distributing and marketing its own brands.

The company's first acquisition was of watch brand Concord, with the Movado brand next up in 1983.

An avid enthusiast of the arts, Grinberg and the Movado Group have supported some of the country's most prestigious cultural institutions, including Lincoln Center, the John F. Kennedy Center for the Performing Arts, the American Ballet Theatre, Miami City Ballet and many others. The Movado brand, in particular, counts a strong link to the arts industry, with the brand's famed "Museum Watch" and its "Artists' Series," which has included limited-edition timepieces from pop art icon Andy Warhol and artists Arman, James Rosenquist, Max Bill and Romero Britto, among others.

Today, the Movado Group encompasses nine watch brands, including Movado, Concord, Ebel and ESQ. Through licensing agreements, the group's portfolio also includes Coach Watches, Tommy Hilfiger Watches, Hugo Boss Watches, Lacoste Watches and Juicy Couture Timepieces.

In September 2008, the group announced that Grinberg would be retiring at the end of the company's fiscal year 2009, and that his son Efraim Grinberg would take on the role of chairman while also continuing on as president and chief executive officer of the Movado Group.

"My father was a great man who touched many lives through his generosity as a business leader, a philanthropist and a patron of the arts," Efraim Grinberg said in a media release. "He will be sorely missed by his family, his friends, employees and customers."
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