MILAN, March 23 (Reuters) - Italian clothes retaile
MILAN, March 23 (Reuters) – Italian clothes retailer Benetton Group has shut down its flagship retailer within the centre of Milan, it stated on Tuesday, with a purpose to concentrate on smaller outlets after the COVID-19 pandemic.
“The pandemic has led us to rethink our industrial technique and specifically the one concerning large-scale shops,” stated Benetton Group, when requested in regards to the causes for the closure.
The group added it had in the interim determined to prioritise outlets of round 160-250 sq. metres in dimension fairly than so-called mega-stores.
The Benetton flagship retailer, which overlooks the sq. of the Duomo cathedral in Italy’s trend capital, was 1,750 sq. metres in dimension, over three ranges, and was opened in 2003.
Benetton has 4,468 outlets worldwide, together with 1,200 in Italy, most of which function as franchises.
A 12 months in the past the loss-making group appointed Massimo Renon, the previous boss of eyewear group Marcolin, as chief govt to ramp up efforts to show the corporate round.
The group reported a internet lack of 250 million euros ($296.5 million) in 2020, Italian newspaper Repubblica’s Affari & Finanza reported earlier this 12 months.
($1 = 0.8432 euros)
(Reporting by Elisa Anzolin; Enhancing by Jan Harvey)
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