Market Overview

Movado Group, Inc. Appoints Stephen Sadove to Its Board of Directors


Movado Group, Inc. (NYSE:MOV) today announced that Stephen I. Sadove has
been appointed to the Company's Board of Directors, effective August 23,

Mr. Sadove brings more than 25 years of leadership experience to Movado
Group. Prior to his retirement in November 2013, Stephen Sadove spent 11
years at Saks Incorporated and held positions of increasing
responsibility, serving most recently as Chief Executive Officer at Saks
from January 2006 to November 2013 with title of Chairman of the Board
added in May 2007. From 2004 to 2006, Mr. Sadove was Chief Operating
Officer of Saks Incorporated and in January 2002, Sadove joined the
management team of Saks Incorporated as Vice Chairman. Prior to joining
Saks, from 1991 to 2002, Mr. Sadove held various positions at
Bristol-Myers Squibb with his last position of President, Bristol-Myers
Squibb Worldwide Beauty Care and Nutritionals from 1997 to 2002. During
his tenure at Bristol-Myers Squibb, Mr. Sadove led Clairol to become the
number one hair care business in the United States, relaunched the
Herbal Essences brand into a $700 million business, and completed the
sale of the beauty care business to Procter & Gamble for approximately
$5 billion. Earlier in his career, he developed a distinguished
marketing and consumer products skillset from 1975 to 1991, during which
Mr. Sadove held various positions of increasing responsibility with
General Foods, now known as Kraft General Foods, including Executive
Vice President and General Manager of the Desserts and Meals divisions.

Mr. Sadove is a graduate of Hamilton College and holds an MBA with
distinction from Harvard Business School. Mr. Sadove currently serves on
the board for various non-profit organizations including Hamilton
College as Chairman of the Board of Trustees and on the Executive
Committee of the National Retail Federation representing retailers from
across the United States. He is on the board of Colgate-Palmolive as
lead director, Aramark, and Park Hotels and Resorts and is also a
Founding Partner of JW Levin Management Partners, a private equity firm.

Efraim Grinberg, Chairman and Chief Executive Officer, stated, "Movado
Group is excited to welcome Steve to our Board of Directors. The Board
will benefit from Steve's extensive retail knowledge, strong leadership
skills, and considerable business background, which will broaden our
board's collective capabilities. We look forward to working closely with
Steve as we continue to grow the business and deliver on our near and
long-term objectives."

Mr. Sadove commented, "I am honored to be joining Movado Group's Board
of Directors. I have long admired Movado Group's powerful portfolio of
owned and licensed brands and innovative product. I look forward to
working with Efraim and the Board to contribute to the Company's growth
opportunities that lie ahead."

Following this announcement, the Board will include ten members, each of
whom possesses significant professional experience, particularly in the
financial, retail and business services sectors both domestically and

Movado Group, Inc. designs, sources, and distributes MOVADO®, OLIVIA
and operates Movado company stores in the United States.

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