MVMT Watches
Watch company in California, US From Wikipedia, the free encyclopedia
MVMT Watches Inc. (pronounced "movement")[1] (or simply MVMT) is an American watchmaker that sells quartz watches,[2] as well as sunglasses and other accessories.[1] The company was founded in June 2013 and was acquired by Movado in August 2018.
 | |
| Type of business | Watches |
|---|---|
| Founded | June 2013 |
| Headquarters | 5454 Beethoven Street, Los Angeles, California[1] |
| Owner | Movado |
| URL | www |
Etymology
The word "MVMT" is a play-on-words, denoting both the movement of time and people, as well as the movement component of a watch.[3]
History
MVMT was co-founded in June 2013 by college dropouts Jake Kassan and Kramer LaPlante. They raised more than $290,000 for MVMT through two crowdfunding campaigns on Indiegogo.[4][5][6]
MVMT started selling sunglasses in 2016[4] and was acquired by watchmaker Movado in August 2018 for over $100 million, possibly reaching $200 million depending on performance.[6][7]
Userbase and sales
According to MVMT, in 2017, 88% of their users were under 34 years old and 45% were under 24.[8]
By December 2016, the company had sold over 600,000 watches[4] and was estimated to have sold over 1 million watches by September 2018.[3]
References
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