Benetton is not yet back on track but is pursuing its investment plan. The clothing group has struggled to take off despite its reorganization that began in 2015, which saw the company refocus on its two main brands, United Colors of Benetton and Sisley, by completely changing its structure.

Benetton nearly doubled its net loss from €46 million in 2015 to €81 million a year later, while it recorded an operating loss of €38 million compared to €19 million the previous year. The results were published in Edizione’s 2016 balance sheet, the holding company which controls 100 per cent of Benetton and the empire of the eponymous family. In 2016, Benetton Group suffered from continued economic stagnation in Europe, with a deterioration in sales and profitability which resulted in a weakening of its financial position. Cash flow went from €85 to €24 million in one year.

According to the textile group it has not slowed down its ongoing transformation projects or its investment plan, and is on track to achieve them as planned without falling into debt. Moreover, Benetton accelerated its investments last year, since they increased by 39.2 per cent compared to 2015, reaching €45 million. Nearly 330 outlets were opened or repositioned in 2016.