Lee's Watch Thread for MM'ers of Impeccable Taste

[JPolen01]

Movado acquires MVMT Watches Inc for $200million

The agreement to acquire MVMT Watches Inc., is expected to close around the first of October of 2018. According to the Movado Group’s announcement the purchase price consists of an initial $100 million payment, and two additional payments of $100 million in total. The payments are pre-taxes so the net benefit is expected to total about $85 million now and $85 million more as a result of those two pursuant payments that will be calculated based on MVMT’s financial performance until the buyout is complete.

I don't own one, but I really like the simplistic design on MVMT watches as well as the price point. Also, the two guys that started the company are 26 and 27 years old. Shout out to lazy millennials?