Currently, Morellato Group’s brands are present in over 40 countries, with a strong focus still centered in Europe. However, in the coming years, the company’s priority will shift towards the Middle East and further attention will be given to the United States and China.
The sales in the UK market specifically experienced a decline of 10%.
According to the report, Chinese high-spending consumers exhibit a willingness to spend that is 50% higher than the global average.
Over the past year (June 2022 to June 2023), a total of 351 dynamics were recorded for 38 niche fragrance brands in China. Among these brands, 19 opened 58 new stores, while 15 brands launched 39 pop-up shops.
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“We intend to maintain a growth rate of 100% in the coming years, achieve €10 million in EBITDA within four years, and consider listing on the stock exchange in 2024.”
Fenice’s revenue increased by 134% year-on-year to 61 million euros, while Tbs Crew’s revenue grew by 105% year-on-year to 14.6 million euros.