Morellato Seizes Control of Fossil Group’s Italian Operations

Morellato is gaining ground in its local market. The Italian jewelry and watch company has acquired the distribution operations of the U.S. Fossil group in Italy, which includes brands such as Fossil, Emporio Armani, Armani Exchange, Michael Kors and Diesel. The value of the transaction has not been disclosed.

The Italian group thus assumes the exclusive distribution of the brands that make up the Fossil group, which specializes in the design and manufacture of fashion accessories, such as jewelry and handbags, and will add to its portfolio of 22 brands, including Morellato, Bluespirit, Christ and Philip Whatch.

The objective of the acquisition for the U.S. group is to benefit from Morellato’s infrastructure, in addition to the creation of an exclusive sales network specialized in the retail sector.

Morellato has been immersed in an expansion plan for its store network, with 19 new openings in the last year

Morellato has implemented a growth strategy to expand its store network with 19 new openings in the past year. The group currently operates globally with 660 of its own stores, more than 7,000 multi-brand outlets and up to six e-commerce platforms.

The company ended the 2024 financial year with a slight contraction of 1.8% in turnover, to €723 million. Despite the decline in sales, the conglomerate increased its profitability, with an ebitda of 21.3%, practically stable compared to the previous year.

High-end jewelry accounted for 75% of the group’s turnover in 2024, a stable proportion compared to 74% in 2023. The international business also remained strong, accounting for 70% of the group’s total sales. The online channel, meanwhile, increased its weight to 20%, with a growth of three percentage points compared to 2023.