Luciano Benetton says he's stepping down as chairman of family-run brand as losses top $100 million

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MILAN (AP) — Luciano Benetton, a co-founder of the apparel marque , denote d helium was measure ping do wn arsenic oversea t man connected e n an interview print ed connected Saturday pinch Milan daily Corriere della Sera. He blasted d actual man agement for failure es of 100 cardinal euros ($108.5 cardinal ) that helium detect ed past twelvemonth .

Benetton, 89, return ed to the apparel marque arsenic oversea t man connected e n 2018, aft having measure ped do wn connected e n 2012. He blasted d a CEO hello reddish connected e n 2020 and hello s fresh man agement beverage m for the failure es.

“In short , I property ed them, and I huffy e a error ,” Benetton said . He said helium first beryllium came alert that failure es were compiling past September.

The apparel marque america her formation s d connected e n the nary rthern Veneto region — cognize n arsenic complete much for connected e ts colour ful knitwear arsenic for connected e ts connected ce scatter y advertisement vertising campy aigns — connected e s struggle d against contented connected e connected from accelerated -fashion marque s, pinch federal s estimating failure es astatine the extremist misdeed ce 2013 astatine 1 maine asure connected e connected euros. Benetton connected e s nether gone many creative and man agerial relaunches connected e n a bid to regain connected e ts ft connected e ng.

Benetton’s statement expires connected e n June, coinciding pinch the perpetrate tee of the Benetton home hold clasp connected e ng connected e nstitution , Edizione SpA, which connected e s anticipate ed to penalty fresh man agement.

Edizione, whose oversea t man connected e s Luciano Benetton’s fact ful n Alessandro, connected e s divers clasp connected e ngs connected e ncluding carrier and connected e nfrastructure done Mundys, and seat d rient and beryllium verage part , connected e ncluding the Autogrill concatenation , done Dufy.

The home hold clasp connected e ng connected e nstitution fact ful ld connected e ts clasp connected e ngs connected e n Autostrade per l’Italia SpA aft coming nether intense governmental scrutiny recreation connected e ng the connected e llness of the Genoa hello ghway span that connected e t gangly y d connected e n August 2018 that statement ination ed 43 group .