Efraim Grinberg on accessible luxury
From How Movado Stays in Motion with Efraim and Margot Grinberg · · aBlogtoWatch
“I've never been embarrassed about kind of trying to democratize luxury for consumers and make it accessible for them while keeping our high standards, being Swiss-made and being relevant for consumers.”
On , Efraim Grinberg, Chairman & Chief Executive Officer at MOVADO GROUP INC, spoke about accessible luxury during How Movado Stays in Motion with Efraim and Margot Grinberg on aBlogtoWatch.
About Efraim Grinberg
Efraim Grinberg, Chairman and CEO of Movado Group, reported first-quarter fiscal 2026 sales of $131.8 million, a decrease of 1.9% from the prior year, and noted the company ended the quarter with $23 million in cash and no debt. He stated that the company is not providing an outlook due to macroeconomic and tariff-related uncertainty, and said that at current temporary US tariff rates, the company believes it can partially mitigate cost increases through levers including selective price increases. Grinberg also commented that a federal trade court ruling that found the current tariffs illegal, while potentially positive from a business perspective, creates even more uncertainty if it holds. In a podcast interview, Grinberg discussed Movado's design heritage and the democratization of luxury, stating he has "never been embarrassed about kind of trying to democratize luxury for consumers." He noted that one of the company's big focuses is on educating salespeople about the brand and its products, and that Movado has been utilizing social media campaigns on Instagram and TikTok to connect with consumers. Grinberg also reflected on his family's history, recounting that his father fled Cuba after the revolution and later built a watch business in the United States, and expressed his belief that "immigrants are what built this country."