Italy Clothing Group Benetton Continues To Restructure With A View To Further Expansion In The Asian Market.

Italy

Group Benetton Group Srl Benetton continued to restructure, and the group repurchased South Korea's business in order to stay in Asia.

Further expansion.

Benetton Group Srl Benetton has 300 stores in Korea, with annual sales of about 150 million euros. The market is also the second largest international market in the group except India.

It is learnt that the right to reclaim the right to operate will help the group to have unified management and strengthen the brand building of the retail network.

Benetton Group Srl Benetton has the same name in Korea's main operation.

Benetton Benetton and Sisley, the two top brands are also the focus of the group reorganization plan.

MarcoAiroldi, chief executive of Benetton Group Srl Benetton, who has just been in office for two years, said it hoped to consolidate its brand position in the Asian market.

The restructuring plan of Benetton Group Srl Benetton began at the end of 2013. Since the Group recorded its first loss in eleven years in the 2013 fiscal year, the group was determined to restructure and released the three year restructuring plan ending the end of this year. The core of the plan is to end the business of many brands such as PLAYLIFE, KillerLoop and Jean'West, and focus on the development of core brands UnitedColorsofBenetton and Sisley.

At the same time, the successor of the family successor, Alessandro Benetton, delivered to GianniMion, meaning that for the first time in the group's 50 year history, it was led by members of the non Benetton Benetton family, while the Group CEO changed from Biagio Chiarolanza to Marco Airoldi.

According to the data, after the reorganization, the profit of Benetton Group Srl Benetton in fiscal year 2015 has improved, but the overall revenue has not improved.

In the 2015 fiscal year, Benetton Group Srl Benetton group income fell 1.2% to 1 billion 529 million euros compared with the same period last year, and core profit EBITDA rose 34.5% to 54 million euros per year, 40 million euros a year earlier.

Benefited from comparable sales growth in direct channel 6%, operating profit reached 2 million euros, while operating loss in 2014 was 17 million euros.

The net loss has also shrunk by half to 46 million euros in the previous year of 91 million euros, including 18 million euros in taxes and 21 million euros in one-time expenditure.

The Group expects to turn around this year.

By the end of 2015, the Benetton Group Srl Benetton global store network still had 5000.