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The Morellato Group closes the 2023 fiscal year with revenues of 737 million euros and an Ebitda margin of 21%, confirming itself as the largest Italian company in the jewelery and watchmaking sector. Present in over 60 countries around the world with 15 owned and six licensed brands, the group owes 75% of its business to five proprietary precious jewelery brands: Bluespirit, D’Amante, Christ, Cleor and Live Diamond. Added to these are watchmaking brands such as Sector, in the portfolio for almost 20 years, Philip Watch and Maserati.
«2023 was a particularly challenging year for the Group. It started with a big dimensional leap for our model of industrial integration and multi-brand development: Morellato Group has created the first aggregating platform for jewelery and watches in Europe – declared Massimo Carraro, president of Morellato Group -. We are pleased to be able to underline the important growth of the precious jewelery brands and the further added value of the Morellato, CHRIST and Live Diamond brands which use recycled precious raw materials. 2024 projects us towards ambitious growth results, thanks to a stable and highly international management team, capable of guaranteeing continuous development over time, Ebitda above 20%, financial solidity and employment growth. We are proud that an Italian company is setting these goals.”
Morellato Group leverages an integrated business model that goes from the purchase and processing of raw materials to the sale to the final consumer through a network of 650 owned jewelers in Italy, France, Germany and Austria and more than seven thousand wholesale points of sale . A model that has been built over the years also through a series of acquisitions, the last of which – the most important in terms of size and value of the deal: it led the group to double its revenues – took place in January 2023: Morellato took over the Christ brand, leader in jewelry in Germany and Austria, with over 200 directly managed jewelry stores and the leading e-commerce platform in the sector in Europe.
E-commerce itself has an important role in the group’s sales: it absorbs 17% of consolidated turnover. Overall, the group’s proprietary platforms are six and operate in synergy with physical retailers following an omnichannel sales model.
In addition to digital, the investments of the group – which has published the Sustainability Report according to GRI standards since 2022 and has been Responsible Jewelery Council (RJC) certified since 2023 – have also been oriented towards reducing environmental impact: in 2023 the the use of recycled silver and gold (+387% compared to 2022), as well as the use of lab-grown diamonds and precious stones (+81.6% compared to 2022).