Movado Group Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On September 12, 2024, Movado Group, Inc. (the “Company”) and Swissam Products Limited, a wholly owned Hong Kong subsidiary of the Company (“SPL”), entered into the Fifth Amendment (the “Amendment”) to the Amended and Restated License Agreement dated January 13, 2015 (as previously amended, the “Existing License Agreement”) with Tapestry, Inc. (f/k/a Coach, Inc.). The Amendment amends the Existing License Agreement by, among other things, (1) extending the term of the agreement from June 30, 2025 to June 30, 2028 and (2) specifying or revising, as the case may be, the sales minima, royalty rates, minimum royalties and minimum advertising expenditures for the contract years ending June 30, 2024 through June 30, 2028.
The other material provisions of the Existing License Agreement remain substantially unchanged.
The Company intends to file the Amendment as an exhibit to its quarterly report on Form 10-Q for the fiscal quarter ending October 31, 2024, and will seek confidential treatment of certain terms in the Amendment at such time.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 3, 2024
| MOVADO GROUP, INC. | |||
| By: | /s/ Mitchell Sussis | ||
| Name: | Mitchell Sussis | ||
| Title: | Senior Vice President, General Counsel and Secretary | ||