UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 1.01 | Entry into a Material Definitive Agreement. |
On November 12, 2024, Movado Group, Inc. (“MGI”) and its wholly owned subsidiary, Swissam Products Limited (“SPL” and together with MGI, the “Company”), entered into a letter agreement (the “Extension Letter”) pursuant to which the License Agreement between the Company and Tommy Hilfiger Licensing LLC (“THL”) dated January 1, 2020 (the “Existing Agreement”), was extended for an additional five years ending December 31, 2029. The Extension Letter specifies minimum sales of licensed products and an incremental marketing budget during the extension period. The remaining provisions of the Existing Agreement remain unchanged.
The Company intends to file the extension letter 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 letter 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: November 15, 2024
| MOVADO GROUP, INC. | |||
| By: | /s/ Mitchell Sussis | ||
| Name: | Mitchell Sussis | ||
| Title: | Senior Vice President, General Counsel and Secretary | ||