Morellato started operations in the 1930s as a maker of watch straps.
In 1990, Massimo Carraro bought the small family watchmaking business from his father and two partners.
In April 2014, Morellato signed an alliance with Spanish watchmaker Geresa, making the new joint-venture Spain's second biggest watchmaker, after Rolex. The two companies invested $70 million in the new venture. Through that deal, Morellato gots Geresa's distribution networks, but 50% of Morellato Group's holding company (Morellato &Sector S.A) became the property of Geresa The Morellato Group and Pepe Jeans London signed an agreement for the production and worldwide distribution of watches Pepe Jeans London branded that started during autumn 2014.
In February 2016, the luxury brand Furla launched a new collection of watches designed by Morellato. Morellato also chose Grenchen Time as its distributor for the UK zone.