Why it belongs in ORBIS
Los Angeles watch and accessories brand founded in 2013 by Jacob Kassan and Kramer LaPlante, launched via two Indiegogo crowdfunding campaigns; grew into a direct-to-consumer business selling in 160+ countries before Movado Group acquired it in 2018.
MVMT was founded in Los Angeles in 2013 by Jacob Kassan and Kramer LaPlante, who raised roughly $300,000 through a pair of Indiegogo crowdfunding campaigns rather than traditional venture capital. The brand built its business almost entirely direct-to-consumer, selling minimalist watches and, from 2017, sunglasses online through heavy social-media marketing. By the mid-2010s MVMT reported annual sales near $71 million and distribution in more than 160 countries. In August 2018, Movado Group acquired MVMT for approximately $100 million plus contingent earn-out payments; Kassan and LaPlante stayed on to run the label.