MOVADO GROUP INC — Director's Dealing 2007

Nov 30, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2007-11-28

Reporting Person: GRINBERG GEDALIO (Director, Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-26	Class A Common Stock	$	G	5130	Disposed		Common Stock (5130)	Direct
2007-11-28	Class A Common Stock	$	J	987008	Disposed		Common Stock (987008)	Direct
2007-11-28	Class A Common Stock	$	J	442708	Disposed		Common Stock (442708)	Indirect

Holdings (Derivative)

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

Footnotes

F1: 1 for 1

F2: Immediately

F3: Not Applicable

F4: Transfer of shares to Grinberg Partners, L.P., a family limited partnership, in which the reporting person and his wife are
limited partners, in exchange for L.P. interests.

F5: Shares of Class A Common Stock owned by CAP I Partners, L.P in which the reporting person is deemed to have a pecuniary
interest by virtue of being the manager of CAP I, LLC, the general partner of 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.