Italy Brand Benetton Repurchases Korea Business To Expand Asian Market

There are 300 stores in South Korea, with annual sales of about 150 million euros. The market is also the second largest international market outside 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 has the same brand in Korea.

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

Marco Airoldi, chief executive of 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 started at the end of 2013. Since the Group recorded its first loss in eleven years in fiscal year 2013, the group was determined to restructure and release the three year restructuring plan ending the end of this year. The core of the plan is to end the business of PLAYLIFE, Killer Loop and JeanWest, and focus on development.

United Colors of Benetton and Sisley.

At the same time, the family heir, Alessandro Benetton, was outgoing chairman to Gianni Mion, meaning that the group was the first for the first time since the 50 year history of the group.

Family members are leading, and Group CEO is also changed from Biagio Chiarolanza to Marco Airoldi.

According to the no fashion Chinese network data, after restructuring, fiscal year 2015

Profits have improved, but overall revenue has not improved.

2015 fiscal year,

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, up 40 million euros in the same period last year.

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 global store network still has 5000 rooms.