CEO Sforza changes the face of Benetton: the end of the Incontri era. Here are the new strategic directions
The revolution implemented by Claudio Sforza at Benetton is not about to stop. The spending review offensive launched by the CEO, charged by Edizione with bringing the historic brand of colored sweaters back to its former glory, is already producing its effects, with the imminent announcement of the exit of creative director Andrea Incontri, expected in the next two weeks.
Incontri, formerly Tod’s, was brought on board in July 2022 by predecessor Massimo Renon with the ambitious aim of regenerating the brand and attracting a younger clientele. However, his efforts ran aground. The centralization of activities in Ponzano Veneto, the historic headquarters of Benetton’s in-house creatives, made his stay untenable and the separation was in the air already in March, when the group once again failed to break even and all the financial problems emerged forcefully. Incontri’s absence from the Milan Fashion Week show in February had already raised the first suspicions, later confirmed by Sforza’s firm decision to terminate the creative’s contract.
But the changes do not stop there. As reported by Milanzo Finanza, Benetton has also decided not to renew key consultancy contracts, like that of Marco Picone, who had contributed to the success of the 0-12 line. Recalled by Luciano Benetton to relaunch the children’s sector and optimize the product, Picone, who had made a career in the company since 1987, was ousted after his return in 2023.
Sforza is implementing an aggressive strategic plan, focusing on the skills of the internal creative team and drastically reducing external costs. The top priority is to stop the financial hemorrhage and restore economic balance. Among the decisive actions taken: a 20% solidarity agreement with the unions to contain the labor costs, the appointment of a new CFO and the creation of a centralized purchasing department to rigorously monitor all expenditure. In the meantime, procedures have been started for 45 voluntary exits (incentivised exoduses), which will end in February, at the end of the solidarity agreement. After this phase, Benetton and the unions will have to address the issue of further social safety nets necessary to keep the company on the right track.
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