Luciano Benetton states he's stepping down as chairman of spouse and children-run manufacturer as losses top rated $100 million (adsbygoogle = window.adsbygoogle || []).push({}); MILAN — Luciano Benetton, a co-founder of the clothing manufacturer, announced he was stepping down as chairman in an job interview released on Saturday with Milan every day Corriere della Sera.
He blamed present administration for losses of 100 million euros ($108.5 million) that he found out very last calendar year. Benetton, 89, returned to the attire brand as chairman in 2018, following having stepped down in 2012.
He blamed a CEO hired in 2020 and his new administration workforce for the losses. “In brief, I dependable them, and I made a miscalculation,” Benetton said. He mentioned he initially grew to become knowledgeable that losses have been compiling last September.
The apparel manufacturer based in the northern Veneto area — acknowledged as much for its colorful knitwear as for its at the time splashy marketing campaigns — has struggled in opposition to competitors from quick-fashion brand names, with unions estimating losses at the group considering the fact that 2013 at 1 billion euros. Benetton has gone through numerous inventive and managerial relaunches in a bid to get back its footing. (adsbygoogle = window.
adsbygoogle || []).push({}); Benetton’s term expires in June, coinciding with the board of the Benetton relatives keeping firm, Edizione SpA, which is expected to appoi.