CUSIP No. 624580106                   13G/A                  Page 1 of 10 Pages


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                             ----------------------

                                 SCHEDULE 13G/A

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                               Movado Group, Inc.
                                (Name of Issuer)

                     Common Stock, $0.01 par value per share
                         (Title of Class of Securities)

                                    624580106
                                 (CUSIP Number)

                                December 31, 2006
             (Date of Event Which Requires Filing of this statement)


     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
     [ ]  Rule 13d-1(b)
     [X] Rule 13d-1(c)
     [ ] Rule 13d-1(d)




----------------
     *The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

     The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).







                               Page 1 of 10 Pages





CUSIP No. 624580106                   13G/A                  Page 2 of 10 Pages

----------------------------------------------------------------------
     (1)   NAMES OF REPORTING PERSONS
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

           GLG Partners LP
-----------------------------------------------------------------------
     (2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
           (SEE INSTRUCTIONS)
                                                               (a)  [X]
                                                               (b)  [ ]
-----------------------------------------------------------------------
     (3)   SEC USE ONLY
-----------------------------------------------------------------------
     (4)   CITIZENSHIP OR PLACE OF ORGANIZATION

           United Kingdom
-----------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         --------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    941,549 Shares
OWNED BY       --------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      --------------------------------------------------------

PERSON WITH:  (8)   SHARED DISPOSITIVE POWER
                    941,549 Shares
-----------------------------------------------------------------------
     (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                    941,549 Shares
-----------------------------------------------------------------------
     (10   CHECK BOX IF THE AGGREGATE AMOUNT
           IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
                                                                    [ ]
-----------------------------------------------------------------------
     (11)  PERCENT OF CLASS REPRESENTED
           BY AMOUNT IN ROW (9)
           4.94%
-----------------------------------------------------------------------
     (12)  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           PN
-----------------------------------------------------------------------





CUSIP No. 624580106                   13G/A                  Page 3 of 10 Pages

-----------------------------------------------------------------------
     (1)   NAMES OF REPORTING PERSONS
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

           GLG Partners Limited
-----------------------------------------------------------------------
     (2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
           (SEE INSTRUCTIONS)
                                                               (a)  [X]
                                                               (b)  [ ]
-----------------------------------------------------------------------
     (3)   SEC USE ONLY
-----------------------------------------------------------------------
     (4)   CITIZENSHIP OR PLACE OF ORGANIZATION

           United Kingdom
-----------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         --------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    941,549 Shares
OWNED BY       --------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      --------------------------------------------------------

PERSON WITH:   (8)  SHARED DISPOSITIVE POWER
                    941,549 Shares
-----------------------------------------------------------------------
     (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                    941,549 Shares
-----------------------------------------------------------------------
     (10)  CHECK BOX IF THE AGGREGATE AMOUNT
           IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
                                                                    [ ]
-----------------------------------------------------------------------
     (11)  PERCENT OF CLASS REPRESENTED
           BY AMOUNT IN ROW (9)
           4.94%
-----------------------------------------------------------------------
     (12)  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           IA, HC
-----------------------------------------------------------------------





CUSIP No. 624580106                   13G/A                  Page 4 of 10 Pages

-----------------------------------------------------------------------
     (1)   NAMES OF REPORTING PERSONS
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

           Noam Gottesman
-----------------------------------------------------------------------
     (2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
           (SEE INSTRUCTIONS)
                                                               (a)  [X]
                                                               (b)  [ ]
-----------------------------------------------------------------------
     (3)   SEC USE ONLY
-----------------------------------------------------------------------
     (4)   CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
-----------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         --------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    941,549 Shares
OWNED BY       --------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      --------------------------------------------------------

PERSON WITH:   (8)  SHARED DISPOSITIVE POWER
                    941,549 Shares
-----------------------------------------------------------------------
     (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                    941,549 Shares
-----------------------------------------------------------------------
     (10)  CHECK BOX IF THE AGGREGATE AMOUNT
           IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
                                                                    [ ]
-----------------------------------------------------------------------
     (11)  PERCENT OF CLASS REPRESENTED
           BY AMOUNT IN ROW (9)
           4.94%
-----------------------------------------------------------------------
     (12)  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           IN, HC
-----------------------------------------------------------------------





CUSIP No. 624580106                   13G/A                  Page 5 of 10 Pages

-----------------------------------------------------------------------
     (1)   NAMES OF REPORTING PERSONS
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

           Pierre Lagrange
-----------------------------------------------------------------------
     (2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
           (SEE INSTRUCTIONS)
                                                               (a)  [X]
                                                               (b)  [ ]
-----------------------------------------------------------------------
     (3)   SEC USE ONLY
-----------------------------------------------------------------------
     (4)   CITIZENSHIP OR PLACE OF ORGANIZATION

           Belgium
-----------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         --------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    941,549 Shares
OWNED BY       --------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      --------------------------------------------------------

PERSON WITH:   (8)  SHARED DISPOSITIVE POWER
                    941,549 Shares
-----------------------------------------------------------------------
     (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                    941,549 Shares
-----------------------------------------------------------------------
     (10)  CHECK BOX IF THE AGGREGATE AMOUNT
           IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
                                                                    [ ]
-----------------------------------------------------------------------
     (11)  PERCENT OF CLASS REPRESENTED
           BY AMOUNT IN ROW (9)
           4.94%
-----------------------------------------------------------------------
    (12)   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS
           IN, HC
-----------------------------------------------------------------------





CUSIP No. 624580106                   13G/A                  Page 6 of 10 Pages

     (1)   NAMES OF REPORTING PERSONS
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

           Emmanuel Roman
-----------------------------------------------------------------------
     (2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
           (SEE INSTRUCTIONS)
                                                               (a)  [X]
                                                               (b)  [ ]
-----------------------------------------------------------------------
     (3)   SEC USE ONLY
-----------------------------------------------------------------------
     (4)   CITIZENSHIP OR PLACE OF ORGANIZATION

           France
-----------------------------------------------------------------------
NUMBER OF      (5)  SOLE VOTING POWER
                    0
SHARES         --------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    941,549 Shares
OWNED BY       --------------------------------------------------------_

EACH           (7)  SOLE DISPOSITIVE POWER
                    0
REPORTING      --------------------------------------------------------

PERSON WITH:   (8)  SHARED DISPOSITIVE POWER
                    941,549 Shares
-----------------------------------------------------------------------
     (9)   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                    941,549 Shares
-----------------------------------------------------------------------
     (10)  CHECK BOX IF THE AGGREGATE AMOUNT
           IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
                                                                    [ ]
-----------------------------------------------------------------------
     (11)  PERCENT OF CLASS REPRESENTED
           BY AMOUNT IN ROW (9)
           4.94%
-----------------------------------------------------------------------
     (12)  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
           IN, HC
-----------------------------------------------------------------------





CUSIP No. 624580106                   13G/A                  Page 7 of 10 Pages


This Amendment No. 1 (this "Amendment") amends the statement on Schedule 13G
filed on December 15, 2006 (as amended, the "Schedule 13G") with respect to
shares of Common Stock, par value $0.01 per share ("Common Stock") of Movado
Group, Inc., a New York corporation (the "Company"). Capitalized terms used
herein and no otherwise defined in this Amendment have the meanings set forth in
the Schedule 13G. This Amendment amends and restates Items 2(a), 2(b), 2(c), 4,
5 and 8 in their entirety as set forth below.

Item 2(a).  Name of Person Filing

         This statement is filed by the entities and persons listed below, who
         are collectively referred to herein as "Reporting Persons," with
         respect to the shares of Common Stock of the Company, $0.01 par value
         per share (the "Shares"):

         INVESTMENT MANAGER
         ------------------

         (i)    GLG Partners LP (the "Investment Manager"), with respect to the
                Shares held by certain funds to which the Investment Manager
                serves as investment manager (collectively, the "GLG Funds").

         GENERAL PARTNER
         ---------------

         (ii)   GLG Partners Limited (the "General Partner"), which serves as
                the general partner of the Investment Manager, with respect to
                the Shares held by each of the GLG Funds.

         REPORTING INDIVIDUALS
         ---------------------

         (iii)  Mr. Noam Gottesman ("Mr. Gottesman"), with respect to the Shares
                held by each of the GLG Funds.

         (iv)   Mr. Pierre Lagrange ("Mr. Lagrange"), with respect to the Shares
                held by each of the GLG Funds.

         (v)    Mr. Emmanuel Roman ("Mr. Roman"), with respect to the Shares
                held by each of the GLG Funds.

         Mr. Gottesman, Mr. Lagrange and Mr. Roman are collectively referred to
         as the "Reporting Individuals."

         The Investment Manager serves as the investment manager to each of the
         GLG Funds. The General Partner serves as the general partner to the
         Investment Manager. Each of the Reporting Individuals is a Managing
         Director of the General Partner.

Item 2(b).  Address of Principal Business Office or, if none, Residence

         The address of the principal business office of each of the Reporting
Persons is:

         c/o GLG Partners LP
         1 Curzon Street
         London W1J 5HB
         United Kingdom




CUSIP No. 624580106                   13G/A                  Page 8 of 10 Pages

Item 2(c).  Citizenship

         Citizenship is set forth in Row 4 of the cover page for each Reporting
         Person hereto and is incorporated herein by reference for each such
         Reporting Person.

Item 4.     Ownership

         Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

         The information required by Items 4(a) - (c) is set forth in Rows 5 -
         11 of the cover page for each Reporting Person hereto and is
         incorporated herein by reference for each such Reporting Person. The
         Company's most recent Quarterly Report on Form 10-Q that was filed on
         December 7, 2006, indicates there were 19,077,906 Shares outstanding as
         of November 30, 2006.

         The Investment Manager, which serves as the investment manager to each
         of the GLG Funds, may be deemed to be the beneficial owner of all
         Shares owned by the GLG Funds. The General Partner, as general partner
         to the Investment Manager, may be deemed to be the beneficial owner of
         all Shares owned by the GLG Funds. Each of the Reporting Individuals,
         as a Managing Director of the General Partner with the power to
         exercise investment discretion, may be deemed to be the beneficial
         owner of all Shares owned by the GLG Funds. Each of the Investment
         Manager, the General Partner, and the Reporting Individuals hereby
         disclaims any beneficial ownership of any such Shares, except for their
         pecuniary interest therein.

Item 5.    Ownership of Five Percent or Less of a Class

         If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following: [X]

Item 8.    Identification and Classification of Members of the Group

         See Exhibit I.

Exhibits:

Exhibit I: Joint Filing Agreement, dated as of February 14, 2007, by and among
GLG Partners LP, GLG Partners Limited, Noam Gottesman, Pierre Lagrange and
Emmanuel Roman.





CUSIP No. 624580106                   13G/A                  Page 9 of 10 Pages

                                   SIGNATURES

         After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information with respect to it set
forth in this statement is true, complete, and correct.

Dated: February 14, 2007


GLG PARTNERS LIMITED                             GLG PARTNERS LP
                                                 By: GLG Partners Limited,
                                                 as its General Partner
/s/ Emmanuel Roman
-----------------------------
Name: Emmanuel Roman
Title: Managing Director
                                                 /s/ Emmanuel Roman
                                                 -----------------------------
                                                 Name: Emmanuel Roman
/s/ Victoria Parry                               Title: Managing Director
-----------------------------
Name: Victoria Parry
Title: Senior Legal Counsel

                                                 /s/ Victoria Parry
                                                 -----------------------------
                                                 Name: Victoria Parry
                                                 Title: Senior Legal Counsel




/s/ Emmanuel Roman
-----------------------------
EMMANUEL ROMAN, individually and
on behalf of Noam Gottesman and
Pierre Lagrange


The Powers of Attorney executed by Noam Gottesman and Pierre Lagrange,
authorizing Emmanuel Roman to sign and file this Schedule 13G/A on each person's
behalf, which were filed with the Schedule 13G filed with the Securities and
Exchange Commission on December 15, 2006 by such Reporting Persons with respect
to the common stock of Movado Group, Inc., are hereby incorporated by reference.







CUSIP No. 624580106                   13G/A                 Page 10 of 10 Pages


                                    EXHIBIT I

                             JOINT FILING AGREEMENT

This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Shares
is being filed, and all amendments thereto will be filed, on behalf of each of
the persons and entities named below in accordance with Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

Dated as of February 14, 2007


GLG PARTNERS LIMITED                             GLG PARTNERS LP
                                                 By: GLG Partners Limited,
                                                 as its General Partner
/s/ Emmanuel Roman
Name: Emmanuel Roman
Title: Managing Director
                                                 /s/ Emmanuel Roman
                                                 -----------------------------
                                                 Name: Emmanuel Roman
/s/ Victoria Parry                               Title: Managing Director
-----------------------------
Name: Victoria Parry
Title: Senior Legal Counsel
                                                 /s/ Victoria Parry
                                                 -----------------------------
                                                 Name: Victoria Parry
                                                 Title: Senior Legal Counsel




/s/ Emmanuel Roman
-----------------------------
EMMANUEL ROMAN, individually and
on behalf of Noam Gottesman and
Pierre Lagrange