Movado Group, Inc. and Swissam Products Limited Enters into Second Amendment to the Amended and Restated License Agreement with Tapestry, Inc
August 31, 2021 at 04:08 pm EDT
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Movado Group, Inc. and Swissam Products Limited, a wholly owned Hong Kong subsidiary of the Company, entered into the Second Amendment to the Amended and Restated License Agreement dated January 13, 2015 with Tapestry, Inc. The Amendment amends the Existing License Agreement by (1) revising the pricing for sales of licensed products to retail outlets controlled by Tapestry, Inc. and (2) revising the sales minima, including by combining the separate U.S. and international sales minima for each year into a single annual minimum. The other material provisions of the Existing License Agreement remain substantially unchanged.
Tapestry, Inc. is a global house of luxury accessories and lifestyle brands. The Company's brands include Coach, Kate spade New York, and Stuart Weitzman. The Company operates through three segments: Coach, Kate Spade and Stuart Weitzman. The Coach segment includes global sales of Coach products to customers through Coach operated stores, including e-commerce sites and concession shop-in-shops, and sales to wholesale customers and through independent third-party distributors. The Kate Spade segment includes global sales primarily of kate spade new york brand products to customers through Kate Spade operated stores, including e-commerce sites and concession shop-in-shops, sales to wholesale customers, and through independent third-party distributors. The Stuart Weitzman segment includes global sales of Stuart Weitzman brand products primarily through Stuart Weitzman operated stores, sales to wholesale customers, through e-commerce sites, and through independent third-party distributors.
TAPESTRY, INC. 
