Morellato Group, Italy's leading jewelry and watchmaker, closes fiscal year with €723 million revenue and 21.3% EBITDA
Morellato Group, a prominent Italian jewelry and watchmaking company headquartered in Fratte di Santa Giustina in Colle, Padua, concluded its 2024/25 fiscal year (ending February 28, 2025) with positive financial results and improved profitability. The company maintained its leadership position in Italy, reporting revenues of €723 million, a slight decrease from €737 million the previous year, while its EBITDA margin rose to 21.3%.
Employing 4,800 people, Morellato Group oversees 22 brands, including Morellato, Bluespirit, Christ, D'Amante, Cleor, Philip Watch, and Sector No Limits. Precious jewelry accounted for 75% of its turnover, e-commerce contributed 20%, and international markets represented 70% of sales. The group's products are available through 7,000 wholesale retailers across 60 countries and 660 directly operated stores, complemented by six proprietary e-commerce platforms.
Morellato expanded its retail footprint in the last fiscal year with 19 new store openings. It initiated a store refurbishment program across four European markets, aiming to increase its retail presence in 2025.
The company emphasized its commitment to sustainability by producing all precious collections under the Morellato brand using 100% recycled silver. It continues to support the growth of Live Diamond, a brand offering fully sustainable precious jewelry made from 100% recycled gold and lab-grown diamonds and gemstones. The German brand Christ also utilizes only 100% recycled silver in its products.
In 2024, Morellato Group signed a significant licensing agreement with the Karl Lagerfeld fashion house to produce and distribute watches and jewelry, bringing the total number of brands it manages, including owned and licensed, to 22.
'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,' said Massimo Carraro, president of Morellato Group. '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.'
Morellato Group owns 15 brands: Morellato, Sector No Limits, Philip Watch, Lucien Rochat, Live Diamond, Oui&Me, La Petite Story, Chronostar, and FAVS, along with retail brands Bluespirit (specializing in 18-karat gold) and D'Amante (focused on diamond and gemstone jewelry) in Italy, and Christ (operating in Germany and Austria), Brinckmann & Lange, Cleor (based in Paris), and Noélie.
The group also holds licenses for seven brands: Karl Lagerfeld, Maserati, Chiara Ferragni, Trussardi, Esprit, Jette, and Guido Maria Kretschmer. A pioneer in the jewelry sector with ESG certification, Morellato began publishing its Sustainability Report in 2022 following international GRI Standards. Since 2023, the group has been certified by the Responsible Jewellery Council (RJC), the leading global organization for defining and monitoring sustainability criteria in the jewelry industry, adhering to the strictest environmental standards.
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