Movado Group, Inc. Shareholders Approve Increase in Authorized Shares

Movado Group, Inc. Shareholders Approve Increase in Authorized
Shares 


PARAMUS, N.J., June 23  /PRNewswire-FirstCall/ -- Movado Group, Inc. (NYSE:
MOV), today announced that at its Annual Meeting of Shareholders held on June
17, 2004, the Company's shareholders approved an amendment to its articles of
incorporation providing for an increase in the authorized shares of common
stock and Class A common stock to 100 million shares and 30 million shares,
respectively.

As previously announced, the Company's Board of Directors declared a 2-for-1
stock split contingent upon approval by Movado Group shareholders of an
increase in the authorized shares.  The additional shares issued as a result of
the stock split will be distributed on June 25, 2004 to shareholders of record
on June 11, 2004.  Post-split trading is expected to commence on June 28, 2004.

Movado Group, Inc. designs, manufactures, and distributes Movado, Ebel,
Concord, ESQ, Coach and Tommy Hilfiger watches worldwide, and operates Movado
boutiques and Company stores in the United States.

This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The Company
has tried, whenever possible, to identify these forward-looking statements
using words such as "expects," "anticipates," "believes," "targets," "goals,"
"projects," "intends," "plans," "seeks," "estimates," "projects," "may,"
"will," "should" and similar expressions. Similarly, statements in this press
release that describe the Company's business strategy, outlook, objectives,
plans, intentions or goals are also forward-looking statements. Accordingly,
such forward-looking statements involve known and unknown risks, uncertainties
and other factors that could cause the Company's actual results, performance or
achievements and levels of future dividends to differ materially from those
expressed in, or implied by, these statements. These risks and uncertainties
may include, but are not limited to: the Company's ability to successfully
introduce and sell new products, the Company's ability to successfully
integrate the operations of Ebel without disruption to its other business
activities, changes in consumer demand for the Company's products, risks
relating to the retail industry, import restrictions, competition, seasonality
and the other factors discussed in the Company's Annual Report on Form 10-K and
other filings with the Securities and Exchange Commission. These statements
reflect the Company's current beliefs and are based upon information currently
available to it. Be advised that developments subsequent to this press release
are likely to cause these statements to become outdated with the passage of
time. 

DATASOURCE: Movado Group, Inc.



CONTACT:  Rick Cote, Executive Vice President and Chief Operating

Officer, [phone], Investor Relations, Suzanne Michalek, Director of

Corporate Communications, [phone], both of Movado Group, Inc.;

Investor Relations, Melissa Myron, Press, Stephanie Sampiere, both of

Financial Dynamics, [phone]

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