MOVADO GROUP INC — Director's Dealing 2005

Mar 25, 2005

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2006-01-31

Reporting Person: GRINBERG GEDALIO (Director, Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-07	Class A Common Stock	$	G	10000	Disposed		Common Stock (10000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class A Common Stock	$		Common Stock (38000)	38000	Indirect
Class A Common Stock	$		Common Stock (322684)	322684	Indirect

Footnotes

F1: 1 for 1.

F2: Immediately.

F3: Not applicable.

F4: By CAP I Partners, L.P. The reporting person disclaims beneficial ownership
of the shares held by CAP I Partners L.P. except to the extent of his pecuniary
interest therein.

F5: By wife. The reporting person disclaims beneficial
ownership of all shares held by his wife.