Developing New Businesses Spring 2001 marks Movado Group’s entrée into the  fashion category of the watch industry, with the debut  of our newest brand, Tommy Hilfiger Watches. Working  in close collaboration with the Tommy Hilfiger organization,  we are manufacturing and distributing an exciting, diverse  collection of watches bearing the designer’s  name and signature “twists” on classic  styling. Tommy Hilfiger is celebrated  worldwide for the classic American style  and distinctive details of his sportswear  designs. Tommy’s fascination with watches  began in childhood. Recognizing that  beyond telling time, a watch is a reflection  of personal style, he conceived his new  line of watches to be fashionable,  functional, affordable ($55 to $195 retail)  and fun. The collection includes classic  and sport elegant watches under the  Tommy Hilfiger label and a Tommy line  of bold sport and playful fashion designs  with features like luminous hands,  unidirectional bezels, custom crowns and logo details.  Multi-function analog, digital and ana-digi models, as well as  aluminum and titanium models are offered. Launched in  major U.S. department stores in March, Tommy Hilfiger watches  will also be introduced in Canada and the Caribbean this year. New advertising – Utilizing fresh faces and  sportswear familiar from Tommy Hilfiger apparel campaigns, advertising for Tommy Hilfiger Watches is carefully tied into the designer brand’s crisp, clean and casual American image. 10 Movado Group, Inc.