Benetton news and archive

Edizione: Benetton holding company's value reaches 13.2 billion euros

Yesterday, in Treviso, the shareholders' meeting of Edizione (the holding company of the Italian brand Benetton), chaired by Alessandro Benetton, approved the 2024 financial results. These showed consolidated revenues increasing to 10.1 billion euros (from 9.5 billion euros in 2023) and a net asset value of 13.2 billion euros (from 11.7 billion...

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Benetton halves losses, focuses on digital restart and rationalises distribution network

Benetton’s losses were more than halved compared to the previous year, amounting to just under 100 million euros, an improvement of 57.5 percent year-over-year (YoY). In 2023, this was 235 million euros. The net financial position improved by approximately 50 million euros, from 460 million euros in 2023 to 411 million euros in 2024. Five...

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Benetton: Management continues restructuring plan

This year marks the 60th anniversary of one of Italy's most internationally recognized brands. However, given the ongoing crisis, there are no celebratory runway shows planned, unlike the 40th anniversary in 2005, when the company chose the Centre Pompidou in Paris for the occasion. The company is currently undergoing a significant...

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Oliviero Toscani and his successful campaigns for Benetton

The name Oliviero Toscani, who passed away today in Cecina, is inextricably linked to that of the Benetton family. For the Veneto brand (which is currently experiencing a deep crisis and is being restructured under the leadership of CEO Claudio Sforza), Toscani created the historic campaigns that established United Colors of Benetton's global...

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Italy's Benetton ad photographer Toscani dies: family

Oliviero Toscani, the Italian fashion photographer known for his work on Benetton's provocative advertising campaigns, died Monday aged 82, his family announced. "With great sadness we announce that today, January 13, 2025, our beloved Oliviero has embarked on his next journey," his family said in a statement on Instagram, asking for privacy.(AFP)

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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...

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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...

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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...

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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...

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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...

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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...

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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,...