Fashion giant Benetton said Thursday that 2019 was an important milestone in its relaunch as its “economic-financial indicators show significant recovery and a reduction in losses compared to previous years”.
Set to launch on Tmall, the Revlon Inc-owned cosmetics brand is gearing up to wield the power of celebrity as it re-enters the market, while its parent company continues to struggle with financial instability.
On Thursday, the Italian group announced the end of its collaboration with photographer Oliviero Toscani, following his controversial comments on the Genoa bridge collapse disaster, which killed 43 people in 2018.
As it continues to explore sale possibilities, the New York-based cosmetics company announced on Monday that it has named Coty alum Sergio Pedreiro as its new chief operating officer, effective immediately.
The pop-up selection will showcase Benetton's new approach to streetwear-inspired design and renewed commitment to sustainable fashion, including exclusive lines from the 2019 Milan Fall Fashion show, the brand said.
The Canadian apparel manufacturer has announced a significant cut to its full-year financial guidance, following a $50 million sales shortfall in its preliminary results for Q3 due to weaknesses in North America.