Morellato group revenues rise 3 per cent in 2015

(AGI) Milan, Mar 7 - The entirely Italian-owned Morellato jewellery and watch manufacturer closed 2015 with revenues of 160 million euros, up 3 per cent on 2014. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose 23 per cent to 21.7 million euros, and the net financial position moved from 55.9 to 32 million. The five members of the board of directors - Chairman Massimo Carraro, Marco Carraro, Cristina de' Stefani and independent advisers Matteo Marzotto and Marina Salamon - remain unchanged. A statement said the group would focus on developing national and international wholesale activities in 2016, stepping up own-brand production - Morellato, Sector No Limits, Philip Watch, Chronostar and Bluespirit - and acquiring new brand licence and distribution rights. It also intends to integrate wholesale and retail by developing Bluespirit shops in Italy and retail activities in the Middle East and the Asia-Pacific region. Plans are for 20 new Bluespirit shops. (AGI). .