Morellato, an Italian jewelry company with an expected 2022 revenue of 370 million euros, has purchased Christ group, founded in Germany 160 years ago and now one of the most renowned German jewelry and timepiece brands, with 200 shops and an estimated 2022 revenue of 410 million euros. Together, the two firms will have a distribution network of over 620 outlets in Italy, France, Germany, and Austria, in addition to a comprehensive digital offering. In the following years, the retail and online channels, as well as the manufacturing structure and wholesale, will be extended, therefore boosting Morellato's position in other European nations. Massimo Carraro, the president of Morellato, said, "A 250 million operation made feasible by the good performance of 2021 and 2022, in addition to the plan we've had in place for some time already." At the end of 2021, his company's sales had increased by 49% to a total of 310 million; in 2022, with the acquisition of Pierre Roux, a French jewelry chain based on the Côte d'Azur, a further increase of roughly 20% is predicted, bringing total revenues to 370 million.
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