Benetton news and archive

Benetton Group plans to close 500 stores

Benetton Group CEO Claudio Sforza is finalising the company's reorganisation plan, which he has been working on since this summer, when he took over the Venetian company. The strategy should reduce losses from 230 million to 110 million euros within a year. The break-even point is forecast for 2026. To achieve this goal, 500 store closures are...

Business

Benetton artistic director leaves as it seeks return to profit

Milan, Italy - Italian clothing retailer Benetton said Friday that its creative director Andrea Incontri is leaving the group as part of a wider management overhaul to stem its losses. In a statement, the company said it is "aiming to define a management team to support its new director general in a new phase of rationalisation and relaunch". It...

Business

Edizione accelerates the relaunch of Benetton

The Edizione Group, the holding company of the Benetton family, which controls, among other things, its 100 percent stake in the Italian fashion group, is accelerating the restructuring and relaunch of the chain after its balance sheets were severely affected by the deterioration of its business. After the appointment of Claudio Sforza as the...

Business

Benetton to undergo restructuring, attempts to protect jobs

Italian fashion retailer Benetton is believed to be undergoing a restructuring, with reports stating that the group is in contact with local trade unions in a bid to preserve jobs. According to WWD, Benetton Group, under the supervision of its new CEO Claudio Sforza, is looking into the implementation of wage support for its workforce, working...

People

Benetton's newly named CEO must turn the tide

The Italian fashion empire Benetton will recruit a new general director, Claudio Sforza, to straighten out its accounts and replace Massimo Renon, who had been publicly accused by his co-founder Luciano Benetton, sources close to the company said on Tuesday. Sforza, a "manager with recognised financial and industrial expertise" will be given the...

People

Luciano Benetton relinquishes presidency of family empire

Milan - Luciano Benetton, the 89-year-old co-founder of the eponymous textile empire, announced on Saturday his intention to step down as chairman of the family-owned Italian group, after accusing its chief executive Massimo Renon of wrecking the group's accounts. "I trusted him and I was wrong. I was betrayed in the truest sense of the word. A...

Business

Benetton steps into the metaverse

United Colors of Benetton is the next brand to step into the metaverse. The brand opens a store in the metaverse and even adapts the physical store on Corso Vittorio Emanuele in Milan to this, according to a press release. The store in the metaverse will open in a few weeks, according to the statement. Visitors will not be able to buy clothes,...

Business

Benetton family invests 300 million euros into business

The Benetton family, owners of the Benetton Group and its production assets, has injected 300 million euros to help save the struggling business. Benetton is best known for their brand United Colors of Benetton. The news was reported by Reuters. Last year, Benetton Srl’s losses quadrupled to 361 million euros last year. The company was hit...

People

Benetton appoints Martino Boselli as commercial and sales director

Benetton Group has appointed Martino Boselli as head of the commercial and sales department of United Colors of Benetton. In his new role, Boselli will be in charge of a new commercial and sales department, created to support the group’s strategic plan to become even more effective and profitable. He will report directly to CEO Massimo Renon....

Retail

Benetton to open “numerous” new stores around the world in 2019

Benetton has announced the opening of “numerous” new stores “in the main cities of the world” by the end of 2019 as part of its strategy to revive the brand. The first ones will be opened this Spring/Summer in Benetton’s native Italy, in the cities of Rome, Palermo and Naples, followed by stores in Bangalore, India, and Deauville, France. The...

FashionFeatured

Benetton's new French flair colours debut in Milan

Benetton took to the catwalk in Milan for the first time Tuesday with its debut collection by French designer Jean-Charles de Castelbajac in a bid to revive the historic Italian brand. The show, which kicked off Milan fashion week, opened with a homage to Karl Lagerfeld, who died Tuesday aged 85. "Thank you, Karl," Castelbajac said. Then the...