Jewellery giant Morellato has announced its purchase of the French chain Cleor for £42m as part of its global expansion, Reuters has reported.
The Venice-based brand was founded in 1930 and has since expanded to become a global jewellery and watch brand.
Cleor currently has 140 retail locations in France and is expected to turn over £68m in sales by the end of the year.
Reuters reports that the new deal is set to increase Morellato’s revenues to more than £230m in 2019.
The brand is available in 45 countries worldwide, selling in department stores across Europe as well as through its own website online.
Their watches and jewellery are available to buy in the UK thought their website.
News Source: professionaljeweller