Gedalio Grinberg | Founded watchmaker, 77

Gedalio Grinberg, 77, founder and chairman of the luxury watchmaker Movado Group Inc., has died.

Mr. Grinberg died of natural causes Sunday, a company spokeswoman for the Paramus, N.J., company said.

Born in 1931 in Cuba, Mr. Grinberg came to the United States in 1960 after Fidel Castro took power in Cuba. He began building a career in the watch business at the helm of his North American Watch Co., which later took the Movado Group name after a series of acquisitions.

He also become a devotee of art and showed particular fondness for modern artwork, which he collected.

Today, his company markets nine watch brands, including Movado, Concord, Ebel and ESQ. - AP