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Movado localizes cross-border sales in eShopWorld switch as digital plan comes to fruition

GQ And Movado Host An Exclusive Dinner By Tom Colicchio’s Fowler And Wells At The Beekman

Movado has confirmed that it is moving its brands to eShopWorld, a platform which sets out to help merchants sell their products more easily across international markets.

It does so through providing local payment options along with help on customs and duties in said region.

The companies have jointly launched a partnership to provide Movado and MVMT shoppers in markets across the globe with a localized, familiar online shopping experience.

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ESW simplifies each aspect of the cross-border e-commerce process by removing the challenges brands encounter when trying to sell and ship product internationally.

The partnership will help prepare Movado and MVMT to meet early holiday demand due to the effects of COVID-19.

Tommy Kelly, CEO of ESW, said: “Movado timepieces, with their iconic single dot on the dial, are known worldwide for their innovative design, craftsmanship and quality.”

“Shoppers know they can expect a luxurious experience at every step of the shopping journey with Movado, and we’re excited to partner with the company ahead of the holidays to ensure that the experience is as seamless, simple and familiar as possible for them, wherever they reside.”

Movado Group’s most up to date annual financial report filed online, sales grew in the fiscal year ended 31 January, 2019 by 19.7% up to $679.6m.

In a statement, CEO and chairman, Efraim Grinberg explained how for the year operating cash flow grew to $86.2 million and ended the year with over $189.9m in cash after having completed two significant acquisitions in the last two years: Olivia Burton in fiscal 2018 and MVMT in the third quarter of fiscal 2019.

He explained: “The two acquisitions significantly increase our presence in growing brands with a younger target audience.

“As a company our teams have focused on executing against our four strategic priorities: 1) realizing our brands’ potential, 2) capturing the significant opportunities within our regions, 3) driving innovation in everything we do, and 4) connecting directly with our consumers in the digital world, which has been a key growth driver in our business.”

Point number four is now coming to fruition, as seen with the brand’s latest digital sales move.

Reflecting on this, Behzad Soltani, executive VP, commercial president and CTO at Movado Group, added: “We’re committed to protecting the luxury experience Movado watch shoppers have come to expect and to expanding our brand awareness worldwide.

“By partnering with ESW, we’re ensuring we provide the seamless local shopping experience that our customers deserve, while also gaining more flexibility in terms of controlling our global inventory.”

ESW’s configurable solution optimizes each element in the shopping journey, from local payments and checkout to delivery and returns, ensuring that brands protect and enhance their brand experience at every customer touchpoint.

The company’s powerful combination of technology and human ingenuity will ensure that the Movado and MVMT brands’ e-commerce customers in every geography feel as if they are receiving the same level of service and convenience they would enjoy if shopping at their local store.

 

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Alex Douglas

The author Alex Douglas