MOVADO GROUP INC — Director's Dealing 2004

Jan 6, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2004-01-02

Reporting Person: GRINBERG EFRAIM (Director, President - CEO, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-02	Class A Common Stock	$0	J	4780	Acquired		Common Stock (4780)	Direct

Footnotes

F1: 1 for 1.

F2: Distribution by Grinberg Partners L.P. in which reporting person is a limited partner.

F3: Immediately

F4: Not Applicable

F5: The reporting person also has an indirect pecuniary interest in an additional 236,014 shares of Class A Common Stock, of which 143,836 are owned by a trust and 92,178 shares are owned by another trust, for both of which the reporting person is the beneficiary.