Morellato Group
{{Short description|Italian manufacturer of jewels and watches}}
{{Infobox company
| name = Morellato Group
| logo = Morellato_Group_Logo.svg
| type = Jewelry and watchmaker
| foundation = 1930
| founder = Giulio Morellato
| location = Fratte di Santa Giustina in Colle, Italy
| key_people = Massimo Carraro CEO
| area_served = Worldwide
| industry = Jewelry and watch manufacturing
| products = Jewelry and wristwatches
| caption =
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| homepage = {{URL|www.morellatogroup.com}}
| footnotes =
}}
Morellato Group is an Italian corporate group that designs and manufactures design jewellery and watches. The group's parent company was founded by Giulio Morellato initially in Bologna and later was moved to near Padova.
History
Morellato started operations in the 1930s, as a maker of watch straps.{{cite web |url=https://www.reuters.com/article/us-morellato-idUSBRE98703K20130908 |title=Italy's Morellato not for sale, eyes other domestic brands: CEO |website=Reuters.com |date=8 September 2013 |author=Agnieszka Flak |access-date=28 March 2017 }}
In 1990, Massimo Carraro bought the small family watchmaking business from his father and two partners.{{cite web |url=http://www.diamond2.ca/transformation-morellato-group-sector-watches/ |title=The Transformation of Morellato Group and Sector Watches |website=Diamond2.ca |date=9 June 2014 |access-date=28 March 2017 }} The company started to make jewelry bozes in 1986, and jewelry in 2000.
In 2005, Morellato acquired the licence for Miss Sixty jewelry. In 2006, Morellato acquired Sector Group (Sector, Philip Watch, several licences, and a foothold in the USA and the menswear market). The following year, the group changed its name to Morellato & Sector, bought the watch and jewelry store Bluespirit, and established itself in India and China.{{Cite web |date=2009-05-01 |title=Morellato & Sector Looks to U.S. Market - JCK |url=https://www.jckonline.com/magazine-article/morellato-sector-looks-to-us-market/ |access-date=2024-04-17 |language=en-US}}
In April 2014, Morellato signed an alliance with Spanish watchmaker Geresa, making the new joint-venture Spain's second-biggest watchmaker, after Rolex. The two companies invested $70 million in the new venture. Through that deal, Morellato got Geresa's distribution networks, but 50% of Morellato Group's holding company (Morellato &Sector S.A) became the property of Geresa.{{cite web |url=http://www.abc.es/catalunya/economia/20140409/abci-morellato-group-geresa-alian-201404092017.html |title=Morellato Group y Geresa se alían en el mercado español de relojería y joyas |website=Abc.es |date=9 April 2014 |language=es |access-date=28 March 2017 }} Morellato launched in the Philippines.{{Cite web |last=Velasco |first=Patricia |date=2014-07-29 |title=Morellato: Italy's Finest Jewelry Brand is Now Here in the Philippines! - When In Manila |url=https://www.wheninmanila.com/morellato-italy-finest-jewelry-brand-now-in-philippines/ |access-date=2024-04-17 |website=www.wheninmanila.com |language=en-US}}
The Morellato Group and Pepe Jeans London signed an agreement for the production and worldwide distribution of watches Pepe Jeans London branded that started during autumn 2014. In 2015, Morellato partnered with Trussardi to create the T01 collection.{{cite web |url=http://www.timesofmalta.com/articles/view/20150712/fashion-beauty/timeless-style-artisan-details.576460 |title=Timeless style, artisan details |website=Timesofmalta.com |date=12 July 2015 |access-date=28 March 2017 }} In February 2016, luxury brand Furla launched a new collection of watches designed by Morellato.{{cite web |url=http://www.fashiontimes.com/articles/24994/20160204/furla-to-launch-watch-line-after-signing-licensing-agreement-with-morellato-group.htm |title=Furla To Launch Watch Line After Signing Licensing Agreement With Morellato Group |website=Fashiontimes.com |date=4 February 2016 |author=Alexandra Suarez |access-date=28 March 2017 }} Morellato also chose Grenchen Time as its distributor for the UK.{{cite web |url=http://www.watchpro.com/new-distributor-for-morellato-watch-straps/ |title=New distributor for Morellato watch straps |website=Watchpro.com |date=24 February 2016 |author=Andrew Seymour |access-date=28 March 2017 }}
Over the following years, Morellato bought European jewellery retail chains Mister Watch (2019), Cleor (2019),Claudia Cristoferi (15 November 2019), [https://www.reuters.com/article/italy-morellato-acquisition-idUSL8N27V41R Italian jeweller Morellato buys French chain Cleor] Reuters. and Christ Group (2023).Federico Maccioni (17 January 2023), [https://www.reuters.com/markets/deals/italian-jeweller-morellato-double-turnover-with-german-acquisition-2023-01-17/ Italian jeweller Morellato to double turnover with German acquisition] Reuters.
Activities
The group is present on the Italian and international market with brands of property and brands in license such as Just Cavalli, Furla and Maserati. It is also one of the leading global manufacturer of watch straps and cases for jewelry, which constitute the original activity of Morellato since 1930.{{cite web |url=http://ricerca.repubblica.it/repubblica/archivio/repubblica/1994/10/16/il-giappone-italia-all-assalto-del.html |title=Il giappone D'Italia all' assalto del mondo |website=Repubblica.it |date=16 October 1994 |language=it |author=Giovanni Valentini |access-date=28 March 2017 }} Morellato’s focus markets are Europe, the Middle East and Asia, with a particular concentration on China.Agnieszka Flak (8 September 2013), [https://www.reuters.com/article/us-morellato-idUSBRE98703K20130908 Italy's Morellato not for sale, eyes other domestic brands: CEO] Reuters.
Besides headquarters in Fratte di Santa Giustina in Colle in the province of Padova with the design and marketing offices in Milan, the group is divided into a number of branches in the USA, Germany, France, Spain, Switzerland and Hong Kong; it is also present, through some joint ventures, in China, United Arab Emirates (Morellato Middle East) and India.
Since 1995, 5 million pieces were sold every year.{{cite web |url=http://ricerca.repubblica.it/repubblica/archivio/repubblica/1995/05/08/cinque-milioni-di-cinturini-per-gli-orologi.html |title=Cinque milioni di cinturini per gli orologi di mezzo modo |website=Repubblica.it |date=8 May 1995 |language=it |access-date=28 March 2017 }} In 2005, the group successfully started to expand its production in jewelry and watches.{{cite web |url=http://ricerca.repubblica.it/repubblica/archivio/repubblica/2006/01/23/morellato-il-lusso-accessibile-che-piace-ai.html |title=Morellato, il lusso accessibile che piace ai cinesi |website=Repubblica.it |date=23 January 2006 |language=it |access-date=28 March 2017 }}
In 2012, the group reported a $23 million profit margin on its sales of $250 million (up from $21 million the year before). In 2013, the group was ranked 17th in worldwide sales.{{cite web |url=http://www.ilsole24ore.com/art/impresa-e-territori/2013-11-29/l-alto-gamma-conferma-appeal-195733.shtml |title=L'alto di gamma conferma l'appeal |website=Ilsole24ore.com |date=3 November 2013 |author=Giulia Crivelli |language=it |access-date=28 March 2017 }}{{cite web |url=http://corrieredelveneto.corriere.it/veneto/notizie/economia/2012/2-luglio-2012/morellato-partner-cinesi-capitale-gioiello-padovano-si-espande-far-east-201841872409.shtml |title=Morellato, partner cinesi nel capitale Il gioiello padovano si espande al Far East |website=Corriere.it |date=2 July 2012 |language=it |access-date=28 March 2017 }}{{cite web |url=http://ricerca.repubblica.it/repubblica/archivio/repubblica/2007/09/10/morellato-unultima-acquisizione-per-completare-la-filiera.html |title=Morellato, un'ultima acquisizione per completare la filiera |website=Repubblica.it |date=10 September 2007 |author=Paolo Possamai Padova |language=it |access-date=28 March 2017 }}{{cite web |url=http://www.moda24.ilsole24ore.com/art/industria-finanza/2014-03-24/lo-sviluppo-morellato-passa-vendite-online--100834.php |title=Lo sviluppo di Morellato passa dalle vendite online |website=Ilsole24ore.com |date=24 March 2014 |author=Monica D'Ascenzo |language=it |access-date=28 March 2017 }}
Subsidiaries
The following companies are wholly owned subsidiaries of Morellato Group:
Partnerships
- Chiara Ferragni collection (since 2021){{Cite web |last=Corder |first=Rob |date=2021-06-21 |title=Italian Influencer Chiara Ferragni Creates A Watch Brand Under License With Morellato |url=https://www.watchpro.com/italian-influencer-chiara-ferragni-creates-a-watch-brand-under-license-with-morellato/ |access-date=2024-04-17 |language=en-GB}}
References
External links
- [http://www.morellato.com/morellato_en/ Official website]
Category:Companies based in Veneto
Category:Jewellery companies of Italy
Category:Jewellery retailers of Italy
Category:Watchmaking conglomerates
Category:Watch manufacturing companies of Italy
Category:Design companies established in 1930