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Benetton names new clothing boss amid major restructure


Italy’s Benetton Group will appoint a new chief executive next month for its main clothing business as the fashion group prepares to split into three units.

Benetton has said it will split its clothing, manufacturing and retail businesses into three separate divisions by the beginning of 2015.

Edizione, the holding company of Italy’s Benetton family, will name Marco Airoldi, the senior partner of the Boston Consulting Group, as its fashion business boss.

Airoldi, who previously worked for roadside restaurant operator Autogrill, also owned by Edizione, will take over from Biagio Chiarolanza.

The company, which has 6,500 stores in 120 countries, has embarked on the restructuring in a bid to cut down losses and reaffirm its place amidst growing competition.

Benetton has already said it will close down around 25pc of its franchise stores because they are no longer strategic and focus on its two main clothing brands United Colors of Benetton and Sisley.

Benetton was a big fashion name 20 years ago and best known for its brightly coloured knitwear and provocative advertising campaigns.

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