Developing New Businesses 12 Movado Group, Inc. New store design – The Boutique in Riverside Square is one of the first Movado  stores to feature the inviting new store design.The interior space is divided into separate conversation/counter areas for watches, jewelry and giftware. Our Movado Boutique lifestyle concept stores  which offer consumers a range of Movado design  products from jewelry to home decor items  continued to grow in fiscal 2001. We enhanced our  selections at accessible price points and broadened  our tabletop, pen and accessory assortments.  The two new stores we opened in Boca Raton,  Florida, and Hackensack, New Jersey, were the  first to incorporate our new, brighter, more  consumer-friendly retail environment. The  warm, welcoming interior, featuring three distinct  “experience zones” for our watch, jewelry and  home collections, reinforces the concept of Movado  Boutiques as a lifestyle destination for gifts. Our  exclusive Heart, Ono and exciting new Radius  jewelry was featured in full color ads, and in  Holiday and Valentine’s Day catalogs mailed to  consumers. This year, we will continue to expand  our market presence, opening two new stores, one  in New York City’s trendy SoHo area, the other in  King of Prussia, Pennsylvania. Controlled product  licensing also remains a key growth initiative for  Movado, and initial results from the brand’s two  new licensed clock and eyewear businesses signal  their positive, long-term growth potential.