MOVADO GROUP INC — Director's Dealing 2008

May 1, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MOVADO GROUP INC (MOV)
CIK: 0000072573
Period of Report: 2008-04-28

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-04-28	Employee Stock Option	$22.04	A	58000	Acquired	2018-04-28	Common Stock (58000)	Direct

Footnotes

F1: The option vests in three equal annual installments beginning on April 28, 2009.