Agreement between Morellato Group and ILG

Morellato Group acquired by the Group ILG the 50% of its Italian subsidiary "The New Watch Company” (TNWC), of which takes over the management for the exclusive distribution of the Ice-Watch brand on the Italian market and Tmberland.
ILG-International Luxury Group, one of the leading top player in Europe in the field of watchmaking, born from the integration of Swiss and French, representing the maximum of the know-how of French couture and Swiss watchmaking, and the entry of private equity fund L Capital of the LVMH group.
Ice Watch, is an international phenomenon in recent years in watchmaking. A well-defined brand identity that is expressed in a single word: COLOUR, declined in watches attractive design and innovative use of materials revolutionaries. This success is rooted in the market through more than 9000 outlets in the world, 15 flagship store from the active 2011 and the opening of the first store in Italy, scheduled for 2015.
Timberland is a brand that needs no introduction, more than 20 years continued success. The strong repositioning of recent years, Timberland confirmed as one of the most recognized brands in Italy.
Through this strategic partnership Morellato Group therefore acquires control of TNWC, launching the Italian brand Ice-Watch and Timberland. The project includes a covenant by which time the group will also launch brand ILG in Italy, always distributed by TNWC.
"We are very pleased with this acquisition- states Massimo Carraro, AD di Morellato Group, – leading international brand in the Italian market of great prestige like Ice-Watch and Timberland, Thanks to this important partnership with ILG ".