Benetton fashion retailer 'plans restructuring as losses mount'

Board of the clothing group expected to meet on Tuesday to discuss a net loss of about €230m for 2023

The Benettons own the clothing group made famous by its colourful jumpers and provocative advertising campaigns.

Italy's Benetton family is readying plans to address mounting losses at its eponymous clothing retailer, including parting ways with chief executive Massimo Renon after four years, sources said. 

The board of the clothing group is expected to meet on Tuesday to discuss a net loss of about €230m for 2023, which includes impairments, a source with knowledge of the matter told Reuters. That compares with a net loss of €81m in 2022, when revenues totalled €1bn.