Morellato, company founded in Venice in 1930, acquires Christ Group and brings into its portfolio the three brands of the group that boasts 160 years of history: CHRIST since 1863, VALMANO and BRINCKMANN & LANGE, elements that have made Christ Group the market leader in jewellery and watchmaking in Germany.
“Negotiations started about ten months ago and were carried out confidentially” said Massimo Carraro, President of Morellato Group. “We have wonderful brands, but the control of the distribution chain sometimes prevents us from valorizing them abroad. With the acquisition we enhance our manufacturing and create a European leader that speaks Italian.”
With an estimated 2022 turnover of 370 million euros, Morellato Group currently has over 2,500 employees while Christ Group estimates a 2022 turnover of 410 million and employs more than 2,000 people but if the ebitda of the first starts from 19%, that of the latter starts from 7%. “Our first challenge is the integration of Christ into our production structure and the achievement of profitability in line with market standards“, concluded Carraro.
With this important acquisition, which will take effect from February 2023, Morellato Group becomes the European leader in multi-brand jewelry and watch retailing, bringing its turnover to €800 million with over 620 shops and a unique digital presence in Europe. The operation is part of a precise industrial integration project undertaken by the Group that aims to combine the Morellato Group’s tradition and expertise in manufacturing with Christ’s excellent e-commerce platform, to accelerate the Morellato Group’s digital development at an international level.
