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government-trade

In Brief

MOVADO’S NEW STATUS: Movado Group Inc. has been granted Foreign Trade Zone "subzone" status by the Port Authority of New York and New Jersey. This status allows the company to defer, reduce or possibly eliminate U.S. Custom duties on goods it...

MOVADO’S NEW STATUS: Movado Group Inc. has been granted Foreign Trade Zone “subzone” status by the Port Authority of New York and New Jersey. This status allows the company to defer, reduce or possibly eliminate U.S. Custom duties on goods it imports through the ports of New York and New Jersey. To achieve this designation, companies have to apply to the Foreign Trade Zone Board in Washington, D.C., which controls the job-stimulating program. Foreign Trade Zone 49, which handled more than $6 billion in commerce in 2001, encompasses the Port Newark/Elizabeth Port Authority Marine Terminal complex, the Port Authority Auto Marine Terminal, the Globus Marine Terminal and the Greenville Industrial Park, all in Jersey City, N.J. Movado’s facility is at the Port Newark terminal.

GEEK CHIC: What do Donna Karan and Tom Cruise have in common? AOL Version 8.0, apparently. They were among the 10 celebrities asked to design a disk to celebrate the software’s launch. Other star designers include: Enrique Iglesias, Elizabeth Hurley, Magic Johnson, Jason Giambi, Kate Spade, Nicole Kidman, Julianne Moore and Meryl Streep. Beginning Oct. 15, the original signed artwork will be auctioned on eBay to benefit the celebs’ chosen charity, and 1,000 of each design will be distributed at Bloomingdale’s.

CALVIN’S CAUSE: Calvin Klein threw a charity shopping benefit at its Madison Avenue flagship in honor of Linda Rizk, one of the store’s top customers, on Oct. 2, and earmarked 20 percent of sales to be donated to the the Strang Cancer Prevention Center of Cornell-Weil Hospital. About 40 customers attended the event and shopped Klein’s fall collection, with a long black shearling coat leading sales for the day. The event raised a contribution of more than $15,000 from the company.