Benetton Co-Founder to step down as Chairman amid allegations of fraud

Featured image of the article Benetton Co-Founder to step down as Chairman amid allegations of fraud

An article by Morgane Monteiro

Publication

6 June 2024 à 17h36

Updated on 17 June 2024 à 10h32

Reading time

1 minute

Publication: 6 June 2024 à 17h36, Updated on 17 June 2024 à 10h32

Reading time: 1 minute

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An article by Morgane Monteiro

Publication

6 June 2024 à 17h36

Updated on 17 June 2024 à 10h32

Reading time

1 minute

Publication: 6 June 2024 à 17h36, Updated on 17 June 2024 à 10h32

Reading time: 1 minute

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On May 25, in Italy, Luciano Benetton, Co-Founder of the eponymous Italian fashion retailer (sales of €1.09 billion in 2023 up by 8.5%, after a 19%-uplift in 2022), announced his intention to step down as Chairman of the Group due to worse-than-expected results, allegedly hidden from him by Managing Director, Massimo Renon. The Co-Founder accused the Managing Director of having dug “a €100 million hole” in four years. “I trusted him and I was wrong. I was betrayed in the truest sense of the...

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Article authors
Featured image of the article Morgane Monteiro
Morgane Monteiro Journalist
Featured image of the article Morgane Monteiro

Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.

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