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Movado Forays into Smartwatches, Partners Fullpower, HP Inc.

Luxury watch retailer, Movado Group, Inc.MOV is now venturing into the smartwatch market having collaborated with two Silicon Valley giants, Fullpower Technologies, Inc. and HP Inc. HPQ for enhancing its offerings.

The news was well received by investors as reflected in the gain of about 5.8% in yesterday's trading session.

These collaborations have allowed Movado to develop two separate ranges of smartwatches, Movado Motion and BOLD Motion. Movado has used the technology from Fullpower for its Swiss timepieces to offer the Movado Motion line, while, H-P's technological prowess has been deployed to create the BOLD Motion range.

The watches are compatible with both iOS and Android devices and function using apps that have been specifically designed for them. Both ranges of smartwatches have a slew of features including trackers for sleep and activity patterns among others. The basic versions of Movado Motion and BOLD Motion are priced from $995 and $695, respectively.

Movado Motion's distinct offerings for men (Movado Museum Sport) and women (Bellina) have already been made available on the company website while the unisex BOLD Motion range will likely take some more time to hit the shelves. Nonetheless, it is expected to be available before the holiday season.

We believe that these offerings will place Movado well in the booming smartwatch market (or rather the whole wearables industry). According to a Sep 2015 IDC report, the wearable market is projected to grow at a CAGR of 22.9% over the next 5 years, bringing the global units sold to about 173.4 million by 2019.

However, competition is rife with players like Apple AAPL , Fitbit FIT Samsung, Motorola and Pebble having already built market positions.

Nonetheless, this Zacks Rank #3 (Hold) company has an edge in terms of its popular designs and brands like Movado, EBEL, Concord, Coach, HUGO BOSS, Lacoste, Juicy Couture, Tommy Hilfiger, and Scuderia Ferrari.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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