That’s on top of the $551 million profit loss last quarter.
The 25-year-old executive has played a pivotal role bolstering the digital firepower of the brand.
The pandemic did not stop the upward trajectory of online sales for watch and jewelry, as both categories are thriving at Farfetch, Net-a-porter, Moda Operandi and Threads Styling.
The multicolored, limited-edition timepiece was originally planned to launch during the Summer Olympics.
China was a bright patch, with a 16.1 percent decline over the month.
Organizer MCH Group is considering new platforms for the smaller brands that remain.
Timepiece company Bulova expands its “Tune of Time” initiative and launches Spotify playlists.
The watch group also continues to focus on its fashion brands’ licenses with the addition of Missoni and Furla, said Paolo Marai, president and ceo of the Luxury Division.
Movado has canceled what would have been its third annual watch conference in Davos, Switzerland.
The cancellation adds to a fast-growing list of coronavirus-related event cancellations amid fears of its spread.
Since his arrival in 2013, Babin has focused on expanding the Rome-based company’s product offer, developing its manufacturing capabilities, global distribution and international footprint with the goal of creating new jobs.