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Olivia Burton, a roughly $25m business, and MVMT, a roughly $80m business, were added to this mix in FY2019 and FY2020 respectively. The effect on Owned Brands sales between FY2018, before link MVMT and Olivia Burton, and FY2020, after both were added to reporting, totals only $65.75m. And, outside of a COVID-impacted dip in FY2021, Owned Brands sales have remained relatively flat since.

The design link is done, and the prototype is ready, and really, I like it, Stern said at the Geneva Watches and Wonders fair. But he didn't share any hints about what direction the line will take. Whether or not it's a new sports watch, well, I've got a 50/50 chance of being right. I'm going to say no. I'm expecting something more complication-focused.