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.



Kamali's Sophomore Show for Chloé in Paris Dazzled with Lightness

Models present creations by Chloe for the Women Ready-to-wear Spring-Summer 2025 collection as part of the Paris Fashion Week, in Paris on September 26, 2024. (Photo by Bertrand GUAY / AFP)
Models present creations by Chloe for the Women Ready-to-wear Spring-Summer 2025 collection as part of the Paris Fashion Week, in Paris on September 26, 2024. (Photo by Bertrand GUAY / AFP)
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Kamali's Sophomore Show for Chloé in Paris Dazzled with Lightness

Models present creations by Chloe for the Women Ready-to-wear Spring-Summer 2025 collection as part of the Paris Fashion Week, in Paris on September 26, 2024. (Photo by Bertrand GUAY / AFP)
Models present creations by Chloe for the Women Ready-to-wear Spring-Summer 2025 collection as part of the Paris Fashion Week, in Paris on September 26, 2024. (Photo by Bertrand GUAY / AFP)

Chemena Kamali’s sophomore collection for Chloé was a luminous exploration of femininity, blending the house’s heritage with a fresh, sensual energy for spring. Set against a backdrop of sun-faded apricots, blushes and soft whites, the Paris collection captured Kamali’s vision of a summer that she surmised as: “when you pause, escape, explore and recharge.” It celebrated Chloé’s free-spirited DNA, infused with a lightness that felt both nostalgic and forward-looking.
According to The Associated Press, here are some highlights of Thursday's shows at Paris Fashion Week, including a French honor for Naomi Campbell:
Kamali's joyful freedom “There’s a liberating expression of total freedom,” Kamali said of her spring display.
This freedom flowed through silk charmeuse gowns, lingerie-inspired crop tops and peek-a-boo designs.
Echoes of Karl Lagerfeld’s '70s Chloé lingered in exaggerated shoulders and standout pieces, like a loose-fitting, vivid blue coat. “Chloé is not a passing moment; it’s an eternal state of mind,” Kamali noted, grounding her collection in the house’s long-standing ethos of optimism and instinct.
Layering played a central role, but Kamali kept it light and intuitive, reflecting what she called a “very personal way of dressing.” Sheer fabrics and sun-worn lace mixed effortlessly with ribbed jerseys, creating looks that felt weightless and spontaneous, a signature of Kamali’s debut collection. “What matters to me is the feeling and intuition,” she said.
A standout moment came in the form of a dramatic trapeze-shaped silk gown, its dynamic silhouette swirling with movement. It epitomized Kamali’s ability to honor Chloé’s romantic roots while infusing a modern sensibility. “The mood is light, weightless, sensual and joyful,” she explained. That joyful freedom was a defining thread from start to finish.
With her second outing, Kamali proved she is the right designer to lead Chloé. She crafted a spring collection that balanced nostalgia and sensuality while pushing the house toward a bright, optimistic future.
Mugler’s Cadwallader takes a bite at fashion

Casey Cadwallader delivered a striking show for Mugler, equal parts theatrical and innovative. The hair, sculpted into harsh fringes like a viper’s fang, set the tone for a collection defined by sharp architectural lines. Curving lapels adorned tight jackets, while tendrils of latticed silk flowed into skirts that bled vibrant yellows, creating a visual spectacle.
The collection boldly embraced femininity, featuring a bust that echoed the form of seashells and a densely packed bustier resembling a diving whale. This daring aesthetic aligns with Cadwallader’s aim to infuse the brand with a fresh energy, moving away from the extravagance that some original Mugler fans long for.
Oversized tubular arms complemented a webbed skirt-coat, while a transparent loose trench evoked the look of a sea medusa, reinforcing Cadwallader’s commitment to pushing boundaries.
Naomi Campbell honored in France amid charity controversy

Iconic British model Naomi Campbell was awarded a prestigious honor in France, being named a knight in the Order of Arts and Letters at the culture ministry for her significant contributions to French culture.
However, this recognition comes as Campbell faces scrutiny back home, having been barred from serving as a charity trustee in England and Wales for five years. This decision follows a three-year investigation into the financial activities of her charity, “Fashion for Relief,” which was found to have been “poorly governed” and lacking in “adequate financial management.”
The Charity Commission, which oversees charities in England and Wales, reported multiple instances of misconduct, revealing that only 8.5% of the charity’s expenditures went to charitable grants over a six-year period from 2016. Notably, the inquiry uncovered that charity funds were misused for Campbell’s luxury hotel stays during events in Cannes, alongside personal expenses such as spa treatments and room service.
In response to a question from the AP, Campbell said, “I’ve just found out today about the findings and I am extremely concerned. We are investigating on our side. I was not in control of my charity; I put the control in the hands of a legal employer. We are investigating to find out what and how, and everything I do and every penny I ever raised goes to charity.”
Alongside Campbell, fellow trustee Bianka Hellmich has been disqualified for nine years after receiving unauthorized payments for consultancy services, while trustee Veronica Chou has been barred for four years. The charity, founded in 2005 to unite the fashion industry in addressing global poverty, was dissolved earlier this year, having raised over $15 million for various causes worldwide.
Despite the controversy, Campbell’s honor in France highlights her lasting impact on the cultural landscape.
Rick Owens enchants with gothic splendor

At Thursday’s show at the Palais de Tokyo, Rick Owens unleashed a captivating spectacle that felt like a dramatic descent into a realm inhabited by gothic aliens. The atmosphere was thick with smoke and suspense as an army of biblical figures marched out in impressive diagonal formations, their asymmetrical knee-high leather boots featuring translucent heels, making each step a statement.
Owens’ trademark angular, alien-like geometric shoulders dominated the runway, capturing the essence of his singular vision—one that merges dark romanticism with avant-garde aesthetics. The collection was a testament to his ability to blend his gothic instincts with a sense of reverent irreverence, reminiscent of the “delicate time” he referenced in previous collections, where beauty and horror coexist.
As the show unfolded, a billowing coven emerged, clad in oversized black priest-like hoods and flowing tulle cloaks that draped elegantly over their forms. Some models donned discreet headscarves, striking a balance between reverence and defiance, perfectly embodying Owens’ commentary on societal norms. This juxtaposition echoes his commitment to inclusivity, presenting a vision of fashion that celebrates diversity while challenging conventional beauty standards.
The intricate craftsmanship used in the collection exemplified Owens’ mastery. Each piece, from the cloaks to the striking silhouettes, invited viewers to appreciate humble fabrics. This aligns with his insistence that he presents “the most excellent aesthetics” possible, recognizing the nuanced interplay between the dark and the light in our world.
While some may find Owens’ aesthetic too avant-garde or even gloomy, this show reaffirmed his position as a provocative force in fashion. The theatricality and elaborate design remind us of his role as one of the last independent designers in Paris, navigating the complexities of the fashion landscape with fierce authenticity.