Carlo Benetton, co-founder of the Italian fashion brand United Colors of Benetton breathed his last at the age of 74 due to illness. Carlo passed away in his home in the northern Italian city of Treviso.
He was the youngest among siblings who created the famed United Colors of Benetton brand. The company was founded in 1965 as a simple knitting workshop.
The brand attained a global presence between 1982 and 2000. However, it has been witnessing decline in performance since 2010. In view of declining business, octogenarian Luciano Benetton, Carlo’s sibling had to make a comeback as its chairman last autumn, having left the position in 2012.
It reported a loss of 180 million euros, largest in its history, in fiscal 2017. Now, it is expecting some positive outcome due to strategical turnaround in 2019. Brand’s biggest mistake, according to its co-founder was having practically ‘stopped manufacturing jumpers’.
Fast fashion companies such as H&M, Zara, and Uniqlo are major competitors of the United Colors of Benetton. An online stir was created by the brand last month with a controversial campaign featuring images of migrants recently rescued from the Mediterranean.
Twitter users criticised Benetton’s ‘unacceptable and disrespectful’ use of the migrant photos for commercial gains.
