Benetton, an Italian fashion brand founded in 1965 and known for promoting diversity and inclusion, is facing a serious economic crisis. As a result, 420 stores worldwide will be closed. The company has not successfully adapted to market changes brought by fast fashion and competition from brands like Zara and H&M. The franchise business model has also contributed to financial problems, and poor management has further weakened the company. Despite the difficulties, Benetton plans to restructure and focus on…
Benetton faces crisis, closing stores worldwide.
