Italy’s Benetton Plans Restructuring as Losses Mount, Sources Say

A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)
A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)
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Italy’s Benetton Plans Restructuring as Losses Mount, Sources Say

A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)
A logo of United Colors of Benetton is seen in front of a store in Rome, Italy, July 21, 2020. (Reuters)

Italy's Benetton family is readying plans to address mounting losses at its eponymous clothing retailer, including parting ways with CEO Massimo Renon after four years, two people close to the group said on Monday.

The board of the clothing group is expected to meet on Tuesday to discuss a net loss of around 230 million euros ($250 million) for 2023 which includes impairments, a source with knowledge of the matter told Reuters.

That compares with a net loss of 81 million euros in 2022, when revenues totaled 1 billion euros.

Benetton shareholders are then scheduled to meet on June 18, at which time Renon's CEO mandate will not be renewed, the two sources said.

Renon, who built his career in the eyewear industry working at Luxottica, Safilo and Marcolin, declined to comment.

The Benettons own the clothing group made famous by its colorful jumpers and provocative advertising campaigns through their Edizione holding company.

Edizione is preparing to back a restructuring of the clothing retailer and to inject 260 million euros, one of the sources said, adding that Edizione would exert closer control over the group.

Benetton has struggled to withstand growing competition from fast-fashion giants such as Zara owner Inditex which have developed a nimbler production and distribution model, able to more quickly respond to consumers' changing tastes.

In an interview with Italian newspaper Corriere della Sera on Saturday, Chairman Luciano Benetton, one of its founders, said the group had been expected to break even in 2023 under a three-year strategic plan, but a worse than expected financial situation had emerged in recent months.

Luciano Benetton told Corriere that current management, led by Renon, had surprised the board by unveiling a "dramatic" shortfall.

Founded in 1965 by Italy's Benetton family as a clothing manufacturer, Benetton expanded to trade through around 4,000 shops globally, according to its website. After listing the group in Milan in 1986, the Benettons took it private in 2012, the last year in which it made a profit.



Elie Saab Unveils Luxurious Safari Chic Spring Collection in Paris

 Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)
Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)
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Elie Saab Unveils Luxurious Safari Chic Spring Collection in Paris

 Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)
Models wear creations as part of the Elie Saab Spring/Summer 2025 collection presented Saturday, Sept. 28, 2024, in Paris. (AP)

Lebanese designer Elie Saab unveiled his spring collection on Saturday at Paris’ Palais de Tokyo, elevating the concept of safari chic to luxurious while keeping the camp firmly in check.

Here are some highlights of Saturday's ready-to-wear collections:

Elie Saab takes us on a sultry journey

Saab’s collection blew away any expectations of colonial nostalgia, just like the harmattan gusts he drew inspiration from. Instead, what we got was a mesmerizing journey through the African savannah that felt fresh, vibrant, and completely devoid of tired clichés. This was no ordinary safari chic—Saab took the concept and injected it with his signature luxury, letting it roar in all the right ways while keeping the camp firmly in check.

Right from the start, Saab showed he wasn’t afraid to play with the safari staples—but with a twist. Safari suits, reimagined as roomy linen separates and sleek crepe jumpsuits, traded their usual khaki for the blazing red of fireball lilies, moody elephant gray, and the ochre dust of West Africa. It was a palette that brought the raw, natural beauty of the continent to life without falling into the predictable tropes. These looks weren’t the romanticized garb of the intrepid explorer; they were effortlessly chic, perfectly fitted for today’s cosmopolitan adventurer.

Then came the raffia—oh, the raffia! Saab worked magic with this plant fiber, weaving it into low-slung skirts and minidresses with faint bubble hems that felt light and breezy, yet utterly luxurious. It also made an appearance as fern embroideries on floor-grazing tulle gowns, adding texture and depth that felt delightfully organic. It was these delicate, thoughtful touches that took this collection beyond just a thematic exercise and elevated it to something exquisite.

Hermes’ gentle geometry

Vanhee-Cybulski’s Hermes collection reimagined spring with a palette of warm golden beiges and earthy autumnal hues, a bold choice that immediately set the collection apart. Gentle geometry shaped the garments — myriad squares and architectural forms that fused seamlessly with Hermes signature minimalism. This interplay was reinforced by the striking wooden backdrop, enhancing the atmosphere of sophisticated restraint.

Vanhee-Cybulski leaned into a refined sensuality with sheer mesh trousers that transformed at a flick of a zip and featherweight leather jackets that seemed almost ethereal. These pieces paired athletic ease with luxury, demonstrating her skill in blending delicacy with bold, structured shapes. Utilitarian details, like buckled belts and boxy, pocket-laden shirts, underscored the collection’s grounding in practicality, even amid its more daring expressions of sensuality.

Throughout, Vanhee-Cybulski captured the lightness that spring calls for—luxurious reinterpretations of Hermes’ iconic silk scarves, transformed into breezy shirtdresses and rompers, embodied a carefree spirit ready for sunlit escapes. Warm neutrals dominated, echoing a feeling of being sun-soaked, while her activewear-inspired pieces conveyed a relaxed, summer-ready attitude without compromising on elegance.

The footwear, always a standout for Hermes, carried this ethos further. Sleek riding boots offered a solid foundation to the collection’s grounded luxury, while clog sandals brought a playful, modern twist.

Westwood's controlled chaos

Vivienne Westwood’s spirit lived on in Paris this season, as Andreas Kronthaler brought a masterful interplay of rebellion, history, and glam rock energy to the runway. The spring collection opened with sparkling pants paired with a silky blue bodice, a nod to the late designer’s love of bold, unexpected contrasts—a brilliant start that practically screamed rock ‘n’ roll chic. Kronthaler clearly hasn’t lost his taste for the dramatic, diving headfirst into the kind of fierce, confrontational style that made Westwood an icon.

A giant silver chain, dangling almost absurdly to the model’s knees, set the tone: a clear statement of raw, unapologetic power, in course with the punk ethos of the 80s that still courses through this house’s veins. And there, of course, were the signature Westwood suits and Grecian-style draped dresses—classic shapes that carried a dynamic energy and timeless rebellion, reminiscent of the archival references that have defined Kronthaler’s tenure. These silhouettes bore the same sense of timeless radicalism seen in Kronthaler’s reinterpretations of Westwood’s personal wardrobe last fall, where each garment seemed to transcend fleeting trends.

Clashing checks—a staple of the Westwood lexicon—made their mark, giving the collection an urban, gritty edge that felt distinctly true to the house’s rebellious spirit.

Whimsy had its moment in the shape of a giant tulle headpiece, soaring high and embodying an ’80s bridal punk vision—a dizzying height of contradiction that no one but Westwood’s house could make look so irreverently sophisticated. This playful chaos echoed past seasons, where Kronthaler has embraced an eclectic mishmash of themes—from historical doublets to modern macramé cloaks. This time, however, there was a sense of restraint. It was a more controlled affair, one that saw Kronthaler tightening his narrative, perhaps reflecting a shift toward emotional homage rather than spectacle alone.