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## Developing New Businesses 

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. 

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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. 

