Morellato, a prominent Italian group renowned for its exquisite jewelry and watches, has made a significant move in its international expansion strategy by acquiring the French jewelry retailer Cleor for a substantial sum nearing €50 million. This strategic acquisition is part of Morellato’s efforts to strengthen its presence in the global market, following successful acquisitions of Kronoshop in Italy and Mister Watch in France since 2018.
By adding Cleor to its portfolio, Morellato has achieved complete vertical integration across the design, production, and distribution processes. The addition of Cleor’s 140 stores in France to Morellato’s network of 195 Bluespirit and Joyé stores in Italy cements the group’s position as a key player in the jewelry industry. It is anticipated that this acquisition will boost Morellato’s consolidated revenues to surpass €270 million, with a projected revenue for 2020 nearing €300 million, of which more than 60% will be generated outside Italy.
Cleor, with its 140 monobrand stores and 800 employees headquartered in Evreux near Paris, reported revenues of €80 million in 2019. Following the acquisition, Gilles Bennejean, the founder of Cleor, will continue as CEO and join Morellato’s board of directors. The headquarters of Cleor will also remain in Evreux, ensuring continuity in operations.
As a global entity present in over 70 countries, Morellato boasts a diverse portfolio of brands including Morellato, Sector No Limits, Philip Watch, and Lucien Rochat. With distribution licenses for acclaimed names like Furla, Maserati, and Trussardi, as well as partnerships with prestigious brands like Scuderia Ferrari, Cluse, and Paul Hewitt, Morellato is a powerhouse in the jewelry industry. The acquisition of Cleor underscores Morellato’s commitment to expanding its international footprint and solidifying its stature in the market.
To learn more about Morellato and their acquisitions, visit their official website here. For insights into the global jewelry industry, check out this informative article here.
