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Benetton. Measures to stop "budget hole" without impact on Portugal
Benetton assured Lusa today that the measures adopted to stop the company's "budget hole" of 100 million will not have an impact on Portugal and added that a new executive president will be appointed shortly.
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Economia Benetton
"The measure will have no impact in Portugal", assured an official source of the Italian clothing brand, in response to Lusa.
The founder of Benetton, Luciano Benetton, said on Saturday that the company has a "budget hole of around 100 million euros", adding that "sacrifices will have to be made", as he prepares to leave the position of president.
In an interview with the newspaper Corriere della Sera, which was published on Saturday, Luciano Benetton said that the company's accounts have a "budget hole of around 100 million euros", leaving criticism of the administration.
"I trusted and I was wrong. I was betrayed in the true sense of the word. A few months ago I realised that something was wrong. The picture that the group's senior management presented to us was not real", he lamented.
Benetton admitted that "sacrifices will have to be made", although he did not give details.
However, he showed himself to be confident about the future of the brand, adding that "all efforts will be made to rediscover the energy [...] and give a new life" to Benetton.
The founder of the Italian clothing brand also said that the company's CEO, Massimo Renon, and his team have a "completely different market vision and tradition" from Benetton.
Benetton also told Lusa that "the company continues" and that the family has already confirmed that "a new CEO will be appointed soon".
The company's Board of Directors' term ends in June, with a meeting scheduled for the 18th of the same month.
The group has a commercial network of around 5,000 stores.
Benetton is present from North to South of Portugal, with around 20 stores in Lisbon and Porto alone.
Read Also: Benetton founder announces "budget hole" of 100 million (Portuguese version)
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