ABT’s Sponsor-Loss – Disaster Or No Big Deal?

ABT watchers were buzzing Wednesday over long-time angel sponsor Movado pulling out of its support of the company. Major corporate sponsorships aren’t exactly easy to come by these days. “Movado has been a principal sponsor of Ballet Theater, one of New York’s premier troupes, for almost 20 years, giving what the watch company estimated was more than $400,000 annually. But Ballet Theater trustees said that Movado’s withdrawal would be only a dent in the company’s $35 million annual budget and that a substitute would not be difficult to find.”