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Tuesday, 18 May 2010 |
Italian clothing retailer Benetton announced its plans to expand presence in India as it reported
a forecast-beating rise in quarterly revenues, helped by growth in emerging markets. The company’s revenues rose by 1.8 per cent to 457 million euros ($580 million). This happened mainly because of the positive performance in emerging markets like Russia, India and Mexico, and a favorable exchange rate which raised their sales.
Signs of instability remain for the brand, however, in the markets of greatest relevance to the group, particularly in Europe. Growth in emerging markets more than offset a slowdown in Spain and Greece while sales remained stable in Italy. In the first quarter of 2010, the market was still influenced by the general uncertainty in the global economy which is progressively stabilizing. The firm reported net profits of 20 million euros in the quarter. The average of three analysts’ estimates pointed to revenues of 454.2 million euros and net profit of 18.7 million euros. Europe’s retailers are seeing only tentative signs of economic recovery.
The Benetton Group is present in 120 countries around the world. Its core business is fashion apparel. It’s a group with a strong Italian character whose style, quality and passion are clearly seen in its brands. Its network of around 6,000 contemporary stores around the world offers high quality customer services and generates a total turnover of over 2 billion euros. |
