PARAMUS, N.J., Sept. 29 /PRNewswire-FirstCall/ -- Movado Group, Inc. (NYSE: MOV) -- InformationWeek announced the results of its 21st annual InformationWeek 500 ranking of the nation's most innovative users of business technology - and Movado Group Inc. (MGI), an industry leader in watch design and manufacturing recognized for its technological innovation and achievements, was named to this year's list. The InformationWeek 500 rankings and research results were revealed September 14, 2009.
"What defines the leaders in the InformationWeek 500 is an intense focus on customers and a relentless desire to innovate, even in a brutal economy," said Rob Preston, Editor-In-Chief of InformationWeek. "Year after year, InformationWeek 500 companies harness technology to improve efficiency, boost productivity, drive revenue, and establish a competitive advantage. We applaud this year's winners, and the CIOs and other executives whose ingenuity and risk taking are at the center of business technology innovation."
MGI embarked on one of its largest single investments in company history in 2007, going live with a Global end-to-end solution in February 2009: an IT initiative incorporating a full suite of applications designed to change every major process in the organization to enable sustainable change via technology. This initiative was truly innovative and viewed as a "game changing" endeavor that would provide unprecedented capabilities to MGI. It was an opportunity to shape the company for the future, providing a pathway for the organization to move from a collection of discrete operations to a Global enterprise. The initiative was designed to standardize processes, integrate them, globalize them and set the stage for margin improvement, taking the organization to a higher level. The entire organization was engaged in the initiative, and the Chairman, President & CEO Efraim Grinberg and MGI's Board of Directors referred to it as one of the 'largest and most important initiatives' the organization has ever undertaken.
"It is gratifying to see the hard work and efforts of all MGI employees who played a role in this initiative being recognized," said Dr. Frank Morelli, SVP Global Business Processes & CIO. "We are certainly proud to be included in the InformationWeek 500."
Movado Group, Inc. designs, manufactures, and distributes Movado, Ebel, Concord, ESQ by Movado, Coach, Hugo Boss, Lacoste, Juicy Couture and Tommy Hilfiger watches worldwide and operates Movado boutiques and Company Stores in the United States.
For more information www.informationweek.com/iw500/.
SOURCE Movado Group, Inc.
Heather Cohen, hcohen@movadogroup.com or +1-917-934-4978