After two years as its creative director, Andrea Incontri is exiting Benetton Group.
said the decision was made in mutual agreement as “part of the rearrangement of the organization that is taking place, aimed at defining the team of managers that will flank” newly appointed chief executive officer, Incontri’s exit is not surprising as he had been named creative director in charge of the women’s, men’s and children’s collections by former CEO Massimo Renon.
Benetton decided to leave the company once again after returning in January 2018 as its executive president to spearhead yet another turnaround. He had retired in April 2012, the same year that the company delisted from the Milan Stock Exchange. Luciano Benetton founded the fashion group with his siblings Carlo, Giuliana and Gilberto., where he was men’s creative director. His first collection bowed for spring 2023 during Milan Fashion Week.
Benetton Group revenues last year amounted to 1.1 billion euros, with a net loss of 230 million euros, also due to a devaluation of 150 million euros. Losses before interest and taxes amounted to 113 million euros.Despite Luciano Benetton’s exit, controlling shareholder Edizione, a Benetton family holding, is said to plan to continue its support of the reorganization and relaunch plan of the fashion group, earmarking 260 million euros to this end over the next few years.
Edizione’s diversified investments include stakes in telecom masts group Cellnex, insurer Generali and investment bank Mediobanca, among others.
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