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

Fashion United

4 days ago

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 euros in 2023). The group's employees also increased, rising to over 100,000 in the last three years (from approximately 70,000), while the proportion of female managers stands at about a third of the management staff, according to a statement. Alessandro Benetton and Enrico Laghi confirmed as chairman and ceo of Edizione
The group's infrastructural activities confirm, in their ESG targets, the elimination of direct emissions by 2040. The consumption of green energy by all portfolio companies reached 73 percent.
Founded in 1981, Edizione is one of the leading European industrial holding companies, entirely controlled by the Benetton family. In addition to Benetton, its portfolio includes Mundys, Cellnex, Edizione Property, Maccarese, Compañía de Tierras Sud Argentino, Avolta, Olimpias, Assicurazioni Generali, Mediobanca, Verde Sport, and Benetton Rugby.
'Throughout 2024, we carried forward with deep commitment Edizione's journey of change and innovation. We further strengthened the group's economic results, expanding our scope of action; we profoundly reformed our governance, aligning it with the best international practices; we continued to invest concretely and tangibly in sustainability and innovation, which are strategic and fundamental values for us and for all our investee companies', said Benetton in his letter to stakeholders.
The meeting also appointed the board of directors in accordance with the new statutory provisions which, starting from this mandate, provide for the adoption of the monistic governance system. This is designed to make the company's decision-making process faster, more compact, and more efficient, in line with the most modern international governance rules, the statement continued.
Based on the new governance, the four family branches unanimously approved the names of the four independent board members. In addition to the reconfirmation of Vittorio Pignatti and Irene Boni, two new members joined: Laura Zanetti (director of the economics and finance degree course at Bocconi University, chartered accountant, and statutory auditor) and Annachiara Svelto (expert in corporate law, mergers and acquisitions, and corporate governance, formerly on the boards of Enel, Terna, and Credito Emiliano).
The meeting then appointed Alessandro Benetton as director, who will hold the position of chairman for the next three years; Enrico Laghi, who will hold the position of chief executive officer for three years; Carlo Bertagnin Benetton, Christian Benetton, and Ermanno Boffa. Alessandro Benetton Credits: Courtesy of Edizione
'In the coming years, we intend to continue growing in the industrial sectors where we already express leading expertise and to evaluate new ones, always bringing innovation and financial and industrial skills. At the same time, we will continue our 'experimentation of doing', contaminating the logic of the long-term investor with the spirit of those who, like start-ups, always try to create a product or service that did not exist before', concluded Benetton in his letter to stakeholders.
As announced in May, Benetton's losses were more than halved compared to the previous year, standing at just under 100 million euros, with a year-on-year improvement of 57.5% (in 2023 they were 235 million euros). The net financial position improved by about 50 million euros, decreasing from 460 million euros in 2023 to 411 million euros in 2024. This article was translated to English using an AI tool.
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