The Benetton Group Board of Directors has approved a 2023 consultative budget project, which will be presented for approval at the Shareholders’ Meeting scheduled for June 18, 2024. Sources close to the group report that shareholder Edizione will support the reorganization and relaunch plan by allocating 260 million euros in the coming years. Over the past three years, Edizione has already allocated 350 million euros to the Benetton Group’s activities.
The company’s financial results for 2023 show that it achieved a turnover of 1,098 million euros, with an ebit of -113 million euros and a loss of 230 million euros (including 150 million in write-downs). Despite this, the net equity stood at a respectable 105 million euros.
In addition to its financial challenges, Benetton Group is also facing other issues related to its operations and strategy. These include ongoing legal disputes with competitors and regulatory bodies, as well as internal conflicts between management and employees. However, despite these challenges, the company remains committed to its long-term goals and continues to invest in innovation and growth opportunities.
