Overview

• Luciano Benetton, 89, returned as chairman in 2018 after initially stepping down in 2012.
• He attributes the losses to the CEO and management team appointed in 2020.
• The brand has faced intense competition from fast-fashion companies, leading to substantial financial difficulties.
• Benetton's term ends in June, and new management is expected to be appointed by the family holding company, Edizione SpA.
• The holding company, chaired by Luciano's son Alessandro, has diverse investments including transport, infrastructure, and retail.