MVMT Watches Inc. (pronounced "movement") (or simply MVMT) is an American

watchmaker A watchmaker is an artisan who makes and repairs watches. Since a majority of watches are now factory-made, most modern watchmakers only repair watches. However, originally they were master craftsmen who built watches, including all their part ...

that sells

quartz Quartz is a hard, crystalline mineral composed of silica ( silicon dioxide). The atoms are linked in a continuous framework of SiO4 silicon-oxygen tetrahedra, with each oxygen being shared between two tetrahedra, giving an overall chemical ...

watches A watch is a portable timepiece intended to be carried or worn by a person. It is designed to keep a consistent movement despite the motions caused by the person's activities. A wristwatch is designed to be worn around the wrist, attached b ...

, as well as sunglasses and other accessories. The company was founded in June 2013 and was acquired by

Movado Movado is an American luxury watchmaker. It is best known for its Museum Watch. Movado means "movement" in Esperanto. The watches are known for their signature metallic dot at 12 o'clock and minimalist style. Movado traces its origins to La Ch ...

in August 2018.

Etymology

The word "MVMT" is a

play-on-words Word play or wordplay (also: play-on-words) is a literary technique and a form of wit in which words used become the main subject of the work, primarily for the purpose of intended effect or amusement. Examples of word play include puns, phonet ...

, denoting both the movement of time and people, as well as the movement component of a watch.

History

MVMT was co-founded in June 2013 by college dropouts Jake Kassan and Kramer LaPlante. They raised more than $290,000 for MVMT through two crowdfunding campaigns on Indiegogo. MVMT started selling sunglasses in 2016 and was acquired by watchmaker

in August 2018 for over $100 million, possibly reaching $200m depending on performance.

Userbase and sales

According to MVMT, in 2017, 88% of their users were under 34 years old and 45% were under 24. By December 2016, the company had sold over 600,000 watches and was estimated to have sold over 1 million watches by September 2018.{{Cite web, url=https://www.inc.com/marc-emmer/how-these-2-co-founders-dropped-out-of-college-started-an-iconic-watch-brand-sold-it-for-100-million.html, title=The 7 Strategies That Helped These 2 College Dropouts Build a $100 Million Millennial Brand, last=Emmer, first=Marc, date=2018-09-10, website= Inc.com, access-date=2019-04-02

References

Watch manufacturing companies of the United States Companies based in Los Angeles 2013 establishments in California