Luciano Benetton Resigns as Chairman Amid $100M Losses
Luciano Benetton announced he is stepping down as chairman of the family-run apparel brand after discovering losses of over $100 million, blaming the current management team. Benetton, who returned as chairman in 2018, will leave his position in June, coinciding with the board's term at the family holding company, Edizione SpA. The brand has struggled against fast-fashion competition and has seen significant losses since 2013.