Morellato Group, one of Italy’s top jewelry and watchmaking companies, ended its 2024/25 fiscal year with solid financial results, confirming its leadership in the Italian market.
The company, based in Fratte di Santa Giustina in Colle (Padua), reported €723 million in revenue for the year ending February 28, 2025. While this marks a slight decline from the previous year’s €737 million, profitability improved, with the EBITDA margin rising to 21.3%.
Morellato Group employs around 4,800 people and manages a portfolio of 22 brands. These include Morellato, Bluespirit, Christ, D’Amante, Cleor, Philip Watch, and Sector No Limits. Of the total turnover, 75% came from precious jewelry, 20% from e-commerce, and 70% from international markets.
The group distributes its products through 7,000 wholesale partners in 60 countries and operates 660 company-owned stores. It also runs six proprietary e-commerce platforms.
Expansion and Retail Growth
During the fiscal year, Morellato expanded its retail footprint by opening 19 new stores. It also launched a refurbishment program in four European markets, aiming to further grow its store network in 2025.
Focus on Sustainability
The company underlined its commitment to sustainability by producing all precious jewelry under the Morellato brand using 100% recycled silver. It also continues to support Live Diamond, a brand that creates sustainable jewelry from 100% recycled gold and lab-grown diamonds and gemstones.
Similarly, the German brand Christ now uses only 100% recycled silver in its collections.
Strategic Licensing and Brand Portfolio
In 2024, Morellato signed a key licensing deal with fashion house Karl Lagerfeld. Under this agreement, the group will produce and distribute watches and jewelry for the brand. With this addition, Morellato now manages a total of 22 brands, both owned and licensed.
President Massimo Carraro expressed satisfaction with the year’s performance.
“I am satisfied with the results achieved in 2024, a particularly challenging year for the market environment and for the group’s efforts, which allowed us to increase profitability and gain new market shares,” he said.
“We accomplished this by consistently implementing our corporate manifesto ‘Make It Precious,’ which serves as our guiding principle and decision-making framework, always focusing on the customer. This approach has proven effective, and I am even more convinced of the importance of continuing it.”
Brand Ownership and Licenses
The company owns 15 brands, including:
- Morellato, Sector No Limits, Philip Watch, Lucien Rochat, Live Diamond, Oui&Me, La Petite Story, Chronostar, FAVS
- Retail chains such as Bluespirit (18-karat gold), D’Amante (diamond and gemstone jewelry), Christ (Germany and Austria), Brinckmann & Lange, Cleor (France), and Noélie
Morellato also holds licensing rights for seven brands:
- Karl Lagerfeld, Maserati, Chiara Ferragni, Trussardi, Esprit, Jette, and Guido Maria Kretschmer
ESG and Certifications
The group has been a pioneer in adopting ESG principles. It began publishing its Sustainability Report in 2022 based on global GRI Standards. Since 2023, it has also been certified by the Responsible Jewellery Council (RJC), which sets high sustainability and ethical standards in the jewelry industry.
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