Benetton, the renowned Italian apparel group, has recently released its financial report for the year 2022, signaling a remarkable recovery after a downturn caused by the global pandemic. The company achieved a milestone revenue of €1 billion, showcasing its resilience and ability to adapt to challenging circumstances. Additionally, Benetton has made a significant announcement regarding the appointment of Micaela Le Divelec Lemmi, the former CEO of Ferragamo, to its board of directors.

According to the annual report, Benetton experienced an impressive sales growth of 19% in 2022 compared to the previous year, reaching €847 million. This achievement is particularly notable considering the adverse global context caused by the ongoing pandemic. The flagship brand of the Benetton group, United Colors of Benetton, reported net sales of €895 million, while the Sisley line achieved a turnover of €109 million.

In terms of profitability, Benetton has made substantial progress. The company’s gross operating profit (EBITDA) reached €103 million, representing a significant increase of almost 70% compared to the previous year. This remarkable performance stands in stark contrast to the gross operating loss of €258 million reported in 2020. However, despite these improvements, the company still reported a net loss of €81 million, although this signifies a decrease compared to previous years.

CEO Massimo Renon attributes these positive results to several projects undertaken in the past two years, including the vertical integration of the production platform and the establishment of a new automated warehouse. Additionally, the company streamlined its distribution network and implemented a new creative direction. Since July 2022, Benetton’s creative direction has been under the leadership of designer Andrea Incontri.

The company’s sales in 2022 were primarily driven by the performance of Benetton’s retail networks, which encompass both physical stores and e-commerce platforms. Under the United Colors of Benetton brand, the company owns and operates 3,383 branded stores, while the Sisley line has 376 stores. Benetton has witnessed an increase in the number of directly managed retail outlets, rising from 1,265 to 1,359 within a year. Furthermore, the company has adopted a strategy of opening pop-up stores, as exemplified by the temporary store in Milan during Design Week coinciding with the launch of Casa Benetton, its new home line.

Moreover, Benetton’s online sales platform has experienced significant growth, accounting for 12% of total revenue in 2022, amounting to €119 million. This represents an 11% increase compared to the previous year. CEO Massimo Renon has set an ambitious goal of reaching 30% of total revenue from online sales by 2025.

All in all, Benetton’s financial performance in 2022 showcases its remarkable ability to rebound from the challenges brought about by the pandemic. With strong sales growth, improved profitability, and a focus on creative direction and retail strategies, the company is well on track to achieve its industrial plan for 2026. The appointment of Micaela Le Divelec Lemmi to the board of directors further strengthens the company’s leadership team and positions Benetton for continued success in the future.

For more information on Benetton’s financial report for 2022, please visit https://www.benetton.com. To learn more about Micaela Le Divelec Lemmi’s appointment to the board of directors, please visit https://www.ferragamo.com.