MILAN (AP) — Luciano Benetton, a co-founder of the attire emblem, introduced he used to be stepping down as chairman in an interview printed on Saturday with Milan day-to-day Corriere della Sera. He blamed present control for losses of 100 million euros ($108.5 million) that he came upon ultimate 12 months.Benetton, 89, returned to the attire emblem as chairman in 2018, after having stepped down in 2012. He blamed a CEO employed in 2020 and his new control staff for the losses.“In brief, I relied on them, and I made a mistake,” Benetton mentioned. He mentioned he first changed into mindful that losses have been compiling ultimate September.The attire emblem based totally within the northern Veneto area — referred to as a lot for its colourful knitwear as for its as soon as splashy promoting campaigns — has struggled towards festival from fast-fashion manufacturers, with unions estimating losses on the staff since 2013 at 1 billion euros. Benetton has passed through a lot of ingenious and managerial relaunches in a bid to regain its footing.
Benetton’s time period expires in June, coinciding with the board of the Benetton relatives maintaining corporate, Edizione SpA, which is anticipated to nominate new control.
Edizione, whose chairman is Luciano Benetton’s son Alessandro, has numerous holdings together with shipping and infrastructure thru Mundys, and meals and beverage retail, together with the Autogrill chain, thru Dufy.The relatives maintaining corporate bought its holdings in Autostrade consistent with l’Italia SpA after coming below intense political scrutiny following the cave in of the Genoa freeway bridge that it operated in August 2018 that killed 43 folks.
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