Movado Group, Inc. (NYSE:MOV) Q1 2024 Earnings Call Transcript

Oliver Chen: Okay. Last question. I was a big fan of Movado Bold in the earlier innings of that. What’s happening with the lower price point innovation? And also, how are you thinking about that distribution footprint, if that’s a relevant of different driver? And what inning are you in terms of pivoting your portfolio to make sure you address opening price points as well?

Efraim Grinberg: Sure. Okay. So I like the baseball analogy. I think that we’re probably right now in the second or third inning, and we’ll get to the seventh or eighth inning in the second half of the year in terms of filling opening price points. So we’re excited about those opportunities. And we do have a lot of innovation coming in Bold. In fact, some of it reminiscent of some of our very early introductions. And so we’re quite excited about that. Our retailers are excited about it as well. And we’ve already rolled out our first new product family this quarter and expect that to continue throughout the year. Thank you, Oliver. I would like to thank all of you for participating on today’s call, and we look forward to talking to you after the second quarter. Thank you.

Operator: Thank you. This does conclude today’s teleconference. We appreciate your participation. You may disconnect your lines at this time. Enjoy the rest of your day.