United Colors of Benetton, the Italian fashion group, is poiosed to announce the appointment of You Nguyen as chief merchandising officer and creative director.
Nguyen, who is moving from Levi Strauss where he is design vice-president, will join Benetton as it looks to revamp the brand.
In a role similar to Tom Ford’s at Gucci, Nguyen will be responsible for all aspects of the brand from clothes design to in-store architecture.
Benetton profits for its full year to December 31 2010 were down on 2009 figures which it partially blamed on rising raw material costs.
The group, which has 35 stores in the UK, reported EBITDA from ordinary revenues was down at €311m (£270m), compared with €332m (£288m) in 2009.
Reported net income was €102m (£88.5m) for 2010 against €122m (£105.9m) in 2009.