New York-based Movado watches maker Movado has made a few moves to boost its stock, including removing its logo from its flagship watch and relaunching its website.
The company said on Wednesday that it would begin removing the logo from the Movado 1.5-ounce quartz watch, replacing it with a simpler design.
It said it was removing the Movadis name from the company’s website, and that it will not be making watches for the new Movadid line of watches.
The Movadids were launched in February 2016 with the help of a crowdfunding campaign on Indiegogo.
Movado also said it would stop advertising the Movas brand, which it bought for $3 billion in 2014.
The first-generation Movadidas were launched at $1,499.
The new line of the Movos, which are sold in pairs of two or three, are more affordable.
They range in price from $739 to $1.4 million.
The brand also has some notable exclusives: the Movados Panozza, which is $1 million, and the Movades Giro, which has a price tag of $1 to $3 million.
But Movadista was acquired by Movado in 2014 and its products have since gone out of production.
“We have always wanted to keep Movado’s brand, and we have been doing that since its inception,” CEO Daniel Ojeda told CNBC.
“We believe that the brand is an important part of the brand and we are confident that Movado will continue to be a valued partner.”
In a statement, Movado said that it is “removing Movadises logo from all of its products and will be removing the name Movadís from our website and the website of Movado1.5” in an effort to make the brand more accessible to women and younger consumers.
Movadis logo is removed from the product packaging and on the product page.
The move to remove the logo will give women a new way to identify themselves, according to the statement.
“In the world of consumer brands, the brand itself should not be associated with a specific price point, or any specific brand image, which we believe will encourage more women to invest in the brands they love,” the company said.
Other companies that have announced that they will no longer be selling Movadoses include the Ralph Lauren, Fendi and Saks Fifth Avenue brands.
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