Latest news with #Edizione
Fashion United
25-06-2025
- Business
- Fashion United
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 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. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Asharq Al-Awsat
09-05-2025
- Business
- Asharq Al-Awsat
Italy's Benetton Group Trims Losses in 2024 amid Restructuring Plan
Italian fashion retailer Benetton more than halved its net loss to 100 million euros ($113 million) last year, its results showed on Friday, as the group reorganized its activities to relaunch the brand. Revenues at the clothing group, which is controlled by the Benetton family's holding Edizione, dropped to 917 million euros from just over a billion in 2023. The group, which has struggled to withstand growing competition from fast-fashion giants, has run up a long string of annual losses. Its restructuring plan, which started last year under new Chief Executive Claudio Sforza, focuses on cost reduction and the rationalization of its distribution and sales network, with a strengthening of e-commerce. The company is also focusing on expanding the percentage of its goods provided by external suppliers. Financial debt declined to 411 million euros at the end of last year from 460 million euros the year before.
Reuters
09-05-2025
- Business
- Reuters
Italy's Benetton Group trims losses in 2024 amid restructuring plan
MILAN, May 9 (Reuters) - Italian fashion retailer Benetton more than halved its net loss to 100 million euros ($113 million) last year, its results showed on Friday, as the group reorganised its activities to relaunch the brand. Revenues at the clothing group, which is controlled by the Benetton family's holding Edizione, dropped to 917 million euros from just over a billion in 2023. The group, which has struggled to withstand growing competition from fast-fashion giants, has run up a long string of annual losses. Its restructuring plan, which started last year under new Chief Executive Claudio Sforza, focuses on cost reduction and the rationalisation of its distribution and sales network, with a strengthening of e-commerce. The company is also focusing on expanding the percentage of its goods provided by external suppliers. Financial debt declined to 411 million euros at the end of last year from 460 million euros the year before. ($1 = 0.8879 euros)
Fashion United
23-04-2025
- Business
- Fashion United
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 reorganization which, by the end of the year, as reported a few months ago by Corriere della Sera, should lead to the closure of 400 stores, approximately 200 of which are in Italy, out of 3,500 worldwide. Over 100 have already been closed. The objectives are to halve losses by the end of 2024 compared to 2023, going from a deficit of 230 million euros to approximately 110 million. Loss reduction will continue into 2025, when the deficit is projected to reach 50 million. Breaking even is anticipated for 2026. Luciano Benetton founded the company in 1965 Credits: Benetton Working Hours Agreement Reached for E-commerce and Packaging Departments In recent months, the management, led by CEO Claudio Sforza, has also been engaged in negotiations with unions. On February 11th, as documented in the agreement reviewed by FashionUnited, Benetton Group srl and the territorial trade union organizations Filctem-Cgil, Femca Cisl, and Uiltec Uil, represented by Massimo Messina, Gianni Boato, and Francesca Mazzoli, together with the Workers' Representatives (RSU) of the production units in Ponzano Veneto and Castrette di Villorba, in the province of Treviso, agreed, among other things, that starting April 1st, 2025, in the packaging center and e-commerce departments, Benetton will adopt an 8-hour workday, five days a week, from Monday to Saturday (compared to the current 6-day work week with 6-hour shifts). "When e-commerce started, and especially with its growth, many young people joined, and temporary workers were also used, with poorly structured working hours. Thanks to the agreement, we have managed to regulate shifts and ensure that each worker is informed well in advance, enabling them to better balance work and life," explained Gianni Boato, General Secretary of Femca Cisl Belluno Treviso, to FashionUnited. Incentives for voluntary redundancy have also been extended until December 31st, 2025. Regarding international operations, last December, the Ponzano Veneto-based company initiated the divestiture of its Tunisian activities, and a dialogue has been initiated with the North African government to guarantee incentives for potential investors. Therefore, the intensive restructuring plan, which keeps Claudio Sforza and his team fully engaged, will continue in the coming months. The 2024 results will be released in May, providing an opportunity to assess the initial outcomes of the strategy, which is expected to lead to a break-even point by 2026. Benetton is part of Edizione, one of the leading European industrial holding companies, entirely controlled by the Benetton family. In 2023, Edizione achieved consolidated revenues of 9.5 billion euros, almost 80% of which were generated outside Italy. United Colors of Benetton Spring/Summer 2025 Campaign The company has just launched its Spring/Summer 2025 campaign for United Colors of Benetton, titled "Different Together." "Essential and colorful garments. A white limbo that contains and harmonizes everything else. The Spring/Summer 2025 campaign for United Colors of Benetton is an explicit tribute to the archetypes of the brand's communication," reads a statement. The photos were taken at Benetton Studios, the setting for many campaigns that have made advertising history. The photographer is Guilherme Vieira, a young creative who grew up in the company's communication research labs. The stylist is Anna Carraro, an emerging talent capable of enhancing an authentic casting and a contemporary, normcore style, where fashion becomes an extension of real life. The United Colors of Benetton SS25 campaign Credits: Benetton The models are a diverse mix of ages, ethnicities, styles, and faces. Alongside top model Lea T, there is a group of real people, scouted on the street or in the corridors of the company headquarters in Castrette. "What unites them all is their attitude: aware, collaborative, optimistic, sometimes ironic. Different Together, the title of the campaign, recalls a key value of Benetton's culture. A homogeneous, monochrome world is boring. To move forward together, it is essential to recognize and celebrate our differences," the statement continues.
