89-year-old Luciano Benetton, Benetton clothing brand co-founder, resigns as chairman due to €100m losses under current management.
89-year-old Luciano Benetton, co-founder of the Benetton clothing brand, has announced his resignation as chairman, citing losses of €100m ($108.5m) under the current management team. Benetton, who returned to the company in 2018, blamed losses on a CEO hired in 2020 and his management team. The brand has faced challenges due to competition from fast fashion brands, reporting an estimated €1bn in losses since 2013.
May 25, 2024
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