MOVADO GROUP INC — Director's Dealing 2007

Mar 7, 2007

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2007-01-31

Reporting Person: GRINBERG GEDALIO (Director, Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-08	Class A Common Stock	$	G	4635	Disposed		Common Stock (4635)	Direct
2006-12-19	Class A Common Stock	$	G	10848	Disposed		Common Stock (10848)	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 (442708)	442708	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 peson disclaims beneficial ownership of all shares held by his wife.