Morellato Group, growing performance for precious and sustainable jewelery brands
In Venice, Piazza San Marco, there is the Morellato flagship store where, in 1930, a Venetian craftsman, Giulio Morellato, started his business. Almost 100 years later, the Morellato Group is the largest Italian company in the jewelery and watchmaking sector, present in over 60 countries around the world with its 15 owned and 6 licensed brands. A solid and dynamic entrepreneurial reality, capable of innovating and always looking to the future, Morellato Group wants to be the point of reference for the contemporary consumer, offering an unforgettable shopping experience. The Morellato Group closes the 2023 fiscal year with revenues for 737 million euros and Ebitda margin at 21%.
The Group’s core business is precious jewelry, which in 2023 with the brand properties Bluespirit, D’Amante, CHRIST, Cleor and Live Diamond reached 75% of the overall turnover, interpreter of the tradition of Italian excellence, combining style and refinement, with a complete product offering ranging from From gold, to diamonds and natural gemstones to lab-grown ones. The uniqueness of Morellato Group is a fully integrated business model, from the purchase and processing of raw materials, directly to the final consumer, with a network of 650 owned jewelers in the main European markets – Italy, France, Germany and Austria – and over 7,000 wholesale points of sale. The focus on the consumer has also inspired growth in e-commerce, with major investments in business digitalization and the creation of platforms integrated with company-owned stores. An omnichannel strategy with ever-increasing synergy between the online and offline world, to offer customers shopping experiences with the highest levels of service. The weight of thee-commerce is constantly growingwith the 6 proprietary platforms reaching 17% of turnover in 2023: a record in the sector.
The Group’s strategy, industrial integration and multi-brand development, has made constant organic and self-financed growth possible over the last 20 years, accompanied by a successful M&A track record, to become the first aggregating platform for jewelery and watches in Europe. The latest acquisition, in January 2023, was also the most important in terms of size and value: CHRIST the leading jewelry brand in Germany and Austria, with 160 years of history, over 200 directly managed jewelry stores and the leading e-commerce platform of the sector in Europe.
A diversified brand portfolio that has expanded over time, thanks to investments and resources dedicated to the development and continuous innovation of both proprietary brands and licenses. The precious jewelery brands stand out Bluespirit, D’Amante, CHRIST and Cleor with collections in gold, silver, diamonds and colored gemsalongside Morellato, the Gioielli da Vivere brand synonymous with contemporary elegance, focused today on silver jewelery and Live Diamond, the precious and sustainable jewelery brand with diamonds and lab-grown precious stones, a novelty that the Morellato Group has presented among the first players on the market in 2020. Iconic watch brands that joined the Group with the first, strategic acquisition in 2006: Sector the Italian brand that created the concept of No Limits still expressed today in increasingly high-performance watch collections and Philip Watch which for over 160 years has represented the perfect combination of Swiss Made Technology and Italian Design.
Maserati, Italian excellence and emblem of cutting-edge design and mechanical perfection, is licensed worldwide to the Morellato Group for jewelery and watches. Always attentive to sustainability, understood as a 360° vision, Morellato Group is actively committed to respecting and promoting environmental, ethical and social issues. The Group has been promoting the concept of circular economy for some time and for this reason the use of recycled silver and gold further increased in 2023 (+387% vs ’22), as well as the use of diamonds and lab-grown precious stones (+81.6% vs ’22). An early mover in jewelery with ESG certification, the Group has been publishing the Sustainability Report since 2022 in accordance with the international principles of the GRI Standards (Global Standard for Sustainability Reporting). Since 2023, the Morellato Group has also been certified by the Responsible Jewelery Council (RJC), the most important global organization in the definition and control of sustainability criteria for jewellery, complying with the most rigorous environmental standards.
“Following the important leap in size and the consequent growth in complexity, it was necessary to strengthen the Group’s managerial organization, following the best practices of large international groups. We also continue to invest in corporate welfare and develop wellbeing projects, to improve working environments and relationships between colleagues, with the aim of increasing the motivation and well-being of our collaborators. Sharing and implementing best practices not only optimizes operations, but also enables a collaborative and success-oriented work environment, preparing the company for future challenges and new growth opportunities.” – Cristina de’ Stefani, CEO Finance & Corporate Affairs Morellato Group.
“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.” – declares 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. “Precious is sustainable” is our guiding value, so much so that it is also the claim of the next CHRIST advertising campaign. 2024″ – continues Carraro – “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.”
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