The Italian leader in jewelry and watchmaking is continuing its external growth strategy with the takeover of the exclusive distribution in Italy of the American group Fossil, including its eponymous brand and names such as Emporio Armani, Armani Exchange, Michael Kors, and Diesel. The latter is in difficulty, while Morellato has been making numerous acquisitions over the past two decades.
Italy’s leading jewelry and watchmaking group and world leader in watch straps, Morellato is strengthening its leadership in its home market.
The group, based in Veneto, in the province of Padua, has just announced that it has taken over exclusive distribution in Italy for the American group Fossil, which, in addition to the eponymous brand, includes big names such as Emporio Armani, Armani Exchange, Michael Kors, and Diesel, for which it develops watches, jewelry, and other accessories (handbags, etc.).
The amount of the transaction has not been disclosed.
The creation of an exclusive sales network
The American group will thus benefit from Morellato’s traditional retail infrastructure, still considered the historical pillar of transalpine commerce, as well as from the creation of an exclusive sales network with a high level of service and targeted commercial support.
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Featured photo: © Fossil
