Quick internet search - Louvic was known for making low cost costume jewelry and watches, typically with synthetic stones…

 

The sentimental value is the most precious.

 

Their slogan was „Unusual watches with the forward look“. Louvic Watch Co, N.Y., N.Y., Inc. 62 W 42 st.

 

Louvic was one of many brands back in the day that were not really watchmakers but they would buy cases and movements from elsewhere and sell it as their own. Because of this there are a whole lot of different styles of their watches and very few that would be considered iconic to the brand, making looking for information for any individual model difficult. Their 17 jewel movement was ubiquitous amongst their watches. So odds are the watch itself is nothing special, even though the watch itself is incredibly special. If you want to use it, it would be best to not wind it and let a watchmaker service it first to avoid damage to a movement that basically has no lubrication.