Movado has landed the honor of designing, producing and marketing a new watch line for Ferrari S.p.A., the iconic sports car manufacturer and race team. The agreement is a multi-year, worldwide license that will give Ferrari and Scuderia Ferrari brand a new partner and new outlets for distribution.
Ferrari chose to end their relationship with their previous partner, Panerai, in the hopes that the Movado Group will reach a wider audience with their more affordable luxury watches. Ferrari intends for the Scuderia Ferrari watch line to be more accessible by the general public which Movado should be able to help accommodate. Movado will use their wholesale distribution outlets to market the watches globally, as well as Ferrari stores and the Ferrari online store. The watches will also peak at $2,000 which is a dramatic decrease from the prior watch line.
Chief Executive and Chairman, Efraim Grinberg, of Movado Group, Inc. announced that the “Ferrari Formula 1 cars and Ferrari Road cars will provide great inspiration” to their design group. The watch collection is expected to include captivating, recognizable designs combined with the high quality expertise and skill that is part of Movado’s reputation. Grinberg stated that Movado “looks forward to collaborating with them to design an innovation collection and to satisfy the requests of Ferrari enthusiasts” all around the globe.
Movado has a history of partnering with well-known brands to create elegant and stylish watches. Founded in 1881, the Swiss company has formed a solid reputation as one of the world’s leading watchmakers and has earned 200 international awards for their watch design and time technology. Brands such as Tommy Hilfiger, Coach, ESQ, Lacoste, Ebel and Hugo Boss have learned that a partnership with Movado Group is a sure and successful method of broadening their accessory line.
What should fans expect? The new watch line will, no doubt, be of expert craftsmanship and innovative technology with an elegant design and distinction. With the inspiration of cars that reek of speed, grace and beauty, the partnership of Movado and Ferrari is sure to produce outstanding timepieces that will have fans eagerly waiting the unveiling next year.
When should we expect to see the new Movado-Scuderia Ferrari watch line? It was announced that the collection will be ready for launch at the 2013 Annual Watch & Jewelry Fair which is held in Basel, Switzerland in March of every year. The wait is sure to keep watch aficionados counting the days.