An exercise to be framed, that of Morellato Group , with a turnover of 310 million and a growth of 57% compared to the previous year. Not that the president Massimo Carraro (pictured above), by its nature, rest on its laurels. The consolidated financial statements just closed and relating to the period 1 March 2021-28 February 2022 is an important milestone, but the group is already projected into the future in the short and medium term and in the last three and a half months many new projects have been added to those that led to the excellent result of last year.
Healthy and sustainable growth
A very positive exercise also looking at the financial and profitability indicators: theebitda reached 87.2 million, equal to 26.7% of turnover and the net financial position as of February 28, 2022 was 17.5 million, in light of investments for approximately 23.5 million. The results confirm the leadership of Morellato Group in Italy (obviously excluding global players such as Bulgari and Pomellato, owned, respectively, by the French giants LVMH and Kering) and the leading role in Europe. Morellato can proudly define itself as the most important Italian capital group of jewelery and watches and manages a portfolio of proprietary brands including Morellato, Sector No Limits, Philip Watch, Lucien Rochat, Live Diamond, Bluespirit, La Petite Story, Oui & Me, Cleor, Noelie, D’Amante and Arca, brands to which are added brands for which the group is a worldwide licensee: Chiara Ferragni, Maserati and Trussardi (in the photos above, Riviera ring from the Live Diamond brand, in white gold with ecological diamonds, emeralds, rubies or sapphires and an Oui & Me watch from the Fleurette collection).
The enlargement of the portfolio
This result is the result of a process of targeted acquisitions started for years. In 2017 Morellato acquired Kronoshop.com, an Italian e-commerce specialized in jewelery and watches; in 2018 it was the turn of Mister Watcha French company that owns the brand Yes&Methe following year of Cleor and Noelie, French retailers of “prêt-à-porter” jewelery, as are the others in the group’s portfolio. Last but not least, in 2020 and “despite” the pandemic, Morellato has acquired Lover, an Italian chain of jewelers. “The goal is to continue on the path of growth and in the role of aggregator in the jewelry and watchmaking market in Europe, Asia and the Middle East – explains Massimo Carraro – through sustainable business activities that enhance the tradition of Italian manufacturing”. The Morellato group, in Italy and abroad, stands out for its integrated nature: it all started with the straps, which still today produces and also supplies to high-end jewelery houses.
Focus on sustainability (authentic)
Not green washing or short-term marketing and communication actions, but authentic sustainability, due to the deep conviction of the company, the owners and the managers, and to be in tune with the “spirit of the time” and the demands of end customers: « Together with the “main” budget this year we publish ours first Sustainability Report, in accordance with the international principles of the GRI standards (Global standars for sustainability reporting) – underlines Carraro -. The first activity was the “sustainability matrix”: through a benchmark analysis and the involvement of stakeholders (primarily customers and management), the most relevant ESG topics were identified: the issues were analyzed and measured and reported in the Sustainability report “.
Expansion abroad and retail
In 2022 a new company of the a group was inaugurated Dubai, United Arab Emirates, the nerve center for expansion into the Middle East and African markets. The new headquarters are located in the heart of the Dubai Design District, an international reference hub for fashion and design. «The data on tourism indicate a strong recovery in travel and traffic in airports and stations, while the recovery in business travel seems more moderate – concludes Carraro -. But travel retail remains an important investment line, together with the expansion of the direct online and offline distribution network. The goal is to reach 500 stores by 2024compared to 400 today: 260 are in Italy, 140 in France ».