Editing Benetton Group (section)

== History ==
In 1965, the [[Benetton family|Benettons]] opened their first store in [[Belluno]], in the [[Veneto]] region of northern Italy,<ref name="auto">{{Cite book|url=https://books.google.com/books?id=aU_fBQAAQBAJ&q=Luciano+Benetton&pg=PA279|title=Essentials of International Marketing|last=Brady|first=Donald L.|date=18 December 2014|publisher=Routledge|isbn=9781317471202|language=en}}</ref> and three years later, in [[Paris]]. The company's core business consists of clothing brands United Colors of Benetton<ref>{{cite web|url=http://benetton.com|title=United Colors of Benetton|access-date=10 June 2015|archive-url=https://web.archive.org/web/20190821193546/https://www.benetton.com/|archive-date=21 August 2019|url-status=dead}}</ref> and Sisley.<ref>{{cite web |url=http://sisley.com |title=Sisley |publisher=Sisley |date=21 February 2012 |access-date=28 June 2012 |archive-url=https://web.archive.org/web/20120629123148/http://sisley.com/ |archive-date=29 June 2012 |url-status=dead }}</ref>

Benetton was an iconic brand in the 1980s and 1990s, but has since struggled to regain this position. In 2000, it ranked 75th in Interbrand's ranking of the best global brands; however, by 2002, it had dropped out of the list.<ref>{{cite web|url=https://www.ft.com/content/ae196bec-d863-11e8-ab8e-6be0dcf18713 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/ae196bec-d863-11e8-ab8e-6be0dcf18713 |archive-date=10 December 2022 |url-access=subscription|title=From visionary to old hat: how Benetton fell out of fashion|last=Hill|first=Andrew|date=29 October 2018|website=www.ft.com|access-date=3 March 2020}}</ref>

In 2012, Benetton Group was [[Listing (finance)|delisted]] from the stock exchange and is now a fully owned subsidiary of the Benetton family company Edizione holding.<ref>{{cite news |title=Italy's Benetton group names new boss to help revive brand |url=https://www.reuters.com/article/benetton-management-idUSI6N1H002F |website=Reuters |date=5 April 2017 |agency=Reuters |access-date=4 December 2019}}</ref>

In 2017, the group posted a loss of €180 million.<ref>{{cite web |title=Benetton to Open Up Numerous Stores Around the World |url=https://fashionunited.com/news/retail/benetton-to-open-numerous-new-stores-around-the-world-in-2019/2019042927498 |website=Fashion United |date=29 April 2019 |access-date=4 December 2019}}</ref> Prompted by the heavy losses, [[Luciano Benetton]], who was then 83 years old, returned from retirement as [[executive chairman]] for the brand.<ref>{{cite web |title=Benetton more than just brightly coloured pullovers |url=https://www.france24.com/en/20180817-benetton-more-just-brightly-coloured-pullovers |website=France 24 |date=17 August 2018 |access-date=4 December 2019}}</ref>

Revival efforts also included  appointing French designer [[Jean-Charles de Castelbajac]] as artistic director and  re-appointing photographer [[Oliviero Toscani]].<ref>{{cite web |title=United Colors of Benetton Tests a US Comeback |url=https://fashionunited.com/executive/management/jean-charles-de-castelbajac-new-benetton-artistic-director/2018100823895 |website=Fashion United |date=8 October 2018 |access-date=4 December 2019}}</ref> As of 2020,  United Colors of Benetton had  1,500 employees and used 25,000 workers through [[subcontractor]]s.<ref>[https://www.theatlantic.com/ideas/archive/2020/02/how-mckinsey-destroyed-middle-class/605878/ How McKinsey Destroyed the Middle Class] ''[[The Atlantic]]'', Daniel Markovits, 3 February 2020</ref> In March 2020, [[Massimo Renon]] was named CEO of the company.<ref>{{Cite web |title=Benetton appoints new CEO three years after Luciano comeback |url=https://www.themds.com/companies/benetton-appoints-new-ceo-three-years-after-luciano-comeback.html |access-date=2022-08-30 |website=www.themds.com |language=en-US}}</ref>

On May 25, 2024, Luciano Benetton announced that the group had a loss of 
€100 million and accused Renon and other executives of mismanagement.<ref>{{cite news |title=Benetton in crisi: perdita operativa da 100 milioni e piano di rilancio |url=https://www.ilsole24ore.com/art/benetton-crisi-buco-100-milioni-AGX9JdF |access-date=28 May 2024 |agency=ilsole24ore.com |publisher=ilsole24ore.com |date=26 May 2024}}</ref>

Following Renon's departure, in 2024 Claudio Sforza was appointed CEO of Benetton Group while Christian Coco became president.

In 2025 it was announced that more than 418 stores will close.<ref>
[https://unionrayo.com/en/benetton-closes-418-stores-official/ Farewell to the famous clothing brand – more than 418 stores will close by 2025 – it’s official]  Unión Rayo, February 22, 2025
</ref> 180 of 418 were already closed since 2024.<ref>{{cite web|URL=https://www.corriere.it/economia/finanza/25_gennaio_02/benetton-verso-la-chiusura-di-419-negozi-nel-mondo-gia-100-in-italia-nel-2024-ma-i-grandi-store-crescono-del-7-5815d929-2658-436d-88d7-ddccf8d0cxlk.shtml|title=Benetton, la chiusura di 419 negozi nel mondo (100 già chiusi in Italia nel 2024). Ma i grandi store crescono del 7%|language=IT}}</ref>