This research paper analyses the history, growth trends as well as the financial inclination of the Italian clothier Benetton. It mainly engages in boosting its products to adjust to the current fashion and design trends. It has an excellent business transaction past, which draws a majority of customers. The company has established a good reputation, and is popular in the textile sectors for the contributions it makes towards continual development. It contributes to several social initiatives as well as educational opportunities aimed at solving the existing social problems. For example, it has supported War Child, the global charity that assists children from unstable and war areas. Additionally, it engaged in India’s 1995 campaign to raise AIDS awareness. Similarly, the Food and Agricultural Organization of the United Nations asked the company to contribute towards the communications campaign for the world food summit that took place in Rome, Italy. Benetton has effectively made use of the existing information technology to smooth the progress of global business. It has an arts and communications research center not far from Treviso called Fabrica. Research indicates that scores of students travelled the world to study here. They learn the latest technologies that assist in the learning of communications which will be to the benefit of them and the Company in future (Fraser, Xiall 62).
Benetton’s General History The Benetton Clothing line began in 1965 with the help of three brothers and their sister. They started off in Ponzano Veneto, Italy as a small knitting shop and initially produced outstanding, colorful knitwear. The company eventually grew and is now one of the best networks in the world. For instance, it diversified its main operations in order to accelerate its growth. This involved the use of vast activities and products to boost their sales while applying aggressive advertising techniques that help it maintain its name. The founders split their responsibilities to enable them exploit their own talents to achieve success for the company. Giuliana Benetton acquired a vast amount of experience from knitting handicraft work for women during the ten years she worked in production. This meant that she was responsible for overseeing production activities in the company as well as streamlining various operations to meet its goals and objectives. The eldest brother, Luciano gained his experience from a textile store in Treviso. His main responsibilities were the development of commercial and promotional expertise that enabled him to gain experience in marketing. Thus, he is the group’s marketing director. His other two brothers, Gilberto Benetton and Carlo Benetton handle the company’s general running and technology-based production. Currently, Gilberto Benetton is the vice president and is quite influential. Luciano has also integrated his first born son into the business. Mauro joined the group in 1992 at the age of 30 as the group marketing director. By collectively utilizing each other’s talents, the business has been able to challenge its competitors in the textile industry. This is instrumental in the development of its prosperity because they make decisions with undue speed. They also launch new products that are compatible to the needs of their customers. The family working as a unit has enabled the business to grow on common principles as well as sound business practices and strategies. The company began by focusing its attention to the casual wear market where they used color to attract customers. They implemented this in their woolen products but eventually moved into cotton, as well. The company took advantage of the economic problems facing smaller textile companies in the region. They eventually bought out a majority of these plants and utilized their resources for the advantage of the Benetton Group.