MILAN — Benetton Group SpA has big plans for emerging markets.The Italian apparel retailer and manufacturer said it sees significant potential in India, China, the countries of the former Soviet Union, Turkey and Latin America. Benetton expects to reach sales of 300 million euros, or $438.4 million at current exchange rates, and a network of 1200 stores, compared with sales of 100 million euros, or $146.1 million, and 500 stores today. On Monday, executive vice president Alessandro Benetton said the company is evaluating joint ventures and sourcing deals in Central America. Benetton was presented Monday with Milan's prestigious Bocconi University fourth award "Entrepreneurs for Italy in the World" for his leadership, contribution to economic growth and social responsibility, among other criteria.A company spokesman said products manufactured in Central America would be "aimed at neighboring countries." Benetton's focus in this area is also underscored by the recent opening of new headquarters in Miami. A streamlined supply chain, which would help cut shipping costs and import duties, is as much a part of the reorganization of the group as the conversion of wholesale operations to retail in the U.S., where the company has taken control of about 50 wholesale distributors. The group currently counts 5,800 stores in 120 countries around the world.As reported, in the first quarter, Benetton registered net profits of 29 million euros, or $40.3 million, on sales of 465 million euros, or $646.3 million, in line with the full-year forecast. The company confirmed sales growth of between 6 and 8 percent is expected for 2008.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim