Some Good Sweater News!

Tuesday 18th of November 2008 10:06:36 PM

Some Good Sweater News!

It can seem right now as if there is not any good news in the fashion world given the current economic conditions. But not every retailer is struggling to survive in difficult financial times. For example, the Benetton Group SpA is a company founded in 1965 by the Italian brothers and sisters in the Benetton family. Since then the Benetton stores have been expanded into many other countries including the USA and Japan.

Recently, the Benetton Group announced that the company’s revenue actually grew for the first 3 quarters of the 2008. The company revenues are right on target despite tight credit and declining consumer spending. The Benetton company is well managed and consumer oriented, and those two qualities have kept the clothing company viable even through tough times.

The Benetton Group clothing lines include fashions for men, women and children. The designs are often trendy but practical, and the colors and/or patterns are bright and unusual. You can find t-shirts, dresses, trousers, and sweaters among many other items all in the signature designs. The company has added clothing lines in order to keep customer interest and the result has been a significant increase in sales. Because the company stores can be found in multiple countries, it also has benefited from the appreciation of the euro against many of the global currencies, especially in emerging markets.

Benetton has opened many stores in markets that are just now expanding in the fashion industry. For example, new openings were made in Kazakhstan and India. This marketing and growth strategy has served the company by keeping it financially healthy through the most difficult global financial conditions. The CEO of the Benetton Group, Gerolamo Caccia Dominioni, said, “The results achieved in the nine months are satisfactory and the capacity of the company to channel its energies into achieving the operational choices undertaken should be emphasized. It is now essential for the Group to act with even more rapidity in view of the economic situation the markets will be facing in the coming months.”

(c ) Image by Marja Flick-Buijs, www.sxc.hu/