Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Benetton chair to hand reigns to his son

The chairman of Italian fashion group Benetton will step down from the business tomorrow, handing the role to his son.

According to reports, Luciano Benetton who founded the business together with his brother and sister 47 years ago will pass the chairman’s role to his son and deputy chairman Alessandro from tomorrow.

This follows the news earlier this year that the Benetton group, which includes the Benetton, Sisley and Playlife brands, was looking to delist from the Italian stock exchange after the group issued a profit warning for 2011 forecasting that profit would slip 30%.

The company has 6,400 stores worldwide and said 2011 net profit was expected to be slightly more than €70m (£58m), compared with €102m (£85m) the year before. Benetton also warned that the year ahead would be difficult.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.