Luciano Benetton: Betrayed and Disappointed, founder Speaks Out on Company’s Financial Scandals

Recently, Luciano Benetton, the founder of the clothing group, spoke out about his feelings of betrayal and disappointment in an interview with Corriere della Sera. He revealed that he had trusted those in top management only to find out that the images they presented were not representative of the truth. The group photograph was not a reflection of reality, and this realization was a shocking blow to him.

Despite taking Benetton off the stock market to keep entrepreneurial risks within the family’s control, he acknowledges the impact of this betrayal on the company, its employees, and the customers who trust and support the brand worldwide. He feels a strong sense of responsibility to address the situation with transparency and honesty before exiting the group.

Last year, Benetton began to notice discrepancies in the financial numbers during board meetings where he expressed concerns about economic trends not adding up. By September 2023, these issues came to light with a significant budget shortfall that he describes as a bomb exploding. This revelation left everyone stunned and struggling to comprehend the gravity of the situation.

When pressed about financial losses, Benetton estimates them to be around 100 million but emphasizes that ongoing revelations since September 2023 have been nothing short of a disgrace. Despite personal and emotional toll it has taken on him, he remains committed to addressing issues head-on and taking responsibility for consequences.