Farewell to the famous clothing brand: more than 400 stores to close The iconic Italian brand faces its worst crisis with the massive closure of stores There are clothing brands that have always been there for us, beyond being simple brands. The shop windows with vibrant colours that showed us (or made us believe) that the world was much happier and more inclusive. Do we know which brand we are talking about? Well, like everything, there are times when due to circumstances things come to an unexpected . Today we have to say goodbye to many stores of a fashion icon that has marked several generations and that carried with it a great message of diversity and unity. That? right, Benetton is going to close more than 400 stores around the world, and this news has made us very sad, we are not going to deny it?The brand that always had good colours and inspiring messages for everyone is facing one of the strongest crises in its entire history, but how did they get to this point? We will tell you. What is Benetton? A turning point in the world of fashion. Founded in 1965 in Trevieso, Italy, it has been a benchmark for quality, sustainability and inclusion in its clothing line over the years with its slogan ?ll the colours of the world? a message that not only referred to the range of colours in its collections, but also to its commitment to social issues such as war, racism and AIDS. And what happened to them? It? not something that happened recently, but in the early 2000s, the brand began to lose strength. Changes in consumer habits and the rise of ?ast-fashion?have meant that Benetton has not been able to re-engage in the market, and although they have tried to reinvent themselves on several occasions, the damage was already done and it has been very difficult for them to adapt to the pace of the market?So how did the current crisis ? It all began in its golden years, when franchises were key to expanding the brand globally, but in the long run they became a burden for the brand?In southern Italy alone, the debts accumulated by franchisees reached up to 30 million euros, which made it clear that they were having serious management problems that ed up leading to divisions within the company? own leaders. Both Luciano Benetton (co-founder of the firm) and Massimo Ron (CEO) entered into a fight after accusing the latter of poor management that was leaving a hole of 100 million euros?What will happen now? For the moment, they have established a restructuring plan that is trying to save what is left of the brand from the embers, they have closed 180 stores in 2024 and it is expected that they will reach 420 closed stores before the of this year The Benetton family is trying to save the legacy of the brand by taking these drastic measures, although the future does not seem very colourful to be talking about this brand?But the recovery of Benetton will dep, not on them, but on their ability to adapt to this new market How does it affect the United States? The restructuring plan announces the closure of stores, but it has not been specified whether or not it includes stores in our country, so we will have to wait a bit to find out whether or not this plan will affect the United States. Will Benetton be able to reinvent itself? Let? hope so, but fashion is changing, like everything else. Now, the brand faces a tough road, but it would be a shame to let the Benetton concept, which has been so important in the social life of all of us, simply become a memory.
