Diversification mastermind’s death a blow for Benetton
Co-founder Gilberto Benetton was the main architect of the family’s expansion beyond clothing to financial services and restaurants
Milan — The death of Gilberto Benetton, the mastermind of the family’s diversification beyond sweaters into infrastructures, restaurants and financial companies, poses a succession issue for the Italian billionaire clan. Benetton co-founded the namesake clothing more than 50 years ago with his siblings Luciano and Giuliana, as well as Carlo, who passed away in July. The four had equal stakes in its main holding company, Edizione Srl, and there is a lack of an obvious successor to Gilberto, who amassed a net worth of about $2.5bn, according to the Bloomberg Billionaires Index.
The 77-year-old executive died on Monday at his home in Treviso, Italy, following a brief illness, according to a statement from his family. While his older brother Luciano, 83, has always been directly involved with Benetton Group and returned last year at the helm of the fashion chain to revamp its struggling business, Gilberto was the main architect of the family’s expansion beyond the clothing industr...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.