Benetton defies Brexit: opens store in Westfield London

Benetton defies Brexit. The Italian fashion company has opened a new store in one of the largest shopping malls in Europe, Westfield London. The store will add to the other 53 points of sale that the company has in the country.

United Colors of Benetton store will have the entire offer of the brand, womenswear, menswear and childrenswear and it opened on an extended schedule just before the Christmas season. Located in the ground floor of the shopping mall, it is next to brands like French Connection, Lacoste or Boss, amongst others.

The company, founded in 1965 by the Benetton family, is in the middle of a restructuring process that includes merging its retail strategy with its online business to return to profitability. The turn in strategy arrived after its founders, Luciano Benetton, returned to the company as chairman, in January 2018, six years after he left the group.

Benetton is already present in United Kingdom with 53 points of sale

The company has more than 5,000 points of sale worldwide and approximately 7,200 employees. Benetton ended 2017 with losses of 81 million euros, almost double that of the previous year, when it had a negative net result of 46 million euros. On the other hand, Benetton’s revenue decreased by 7% in its fiscal year, to 1.3 billion euros.

Westfield London is one of the largest shopping malls in Europe, with 240,000 square meters of commercial surface. Owned by the Unibail-Rodamco-Westfield group, the center has an offer of more than 250 stores, gastronomic offer, cinemas and a 24 hours Casino.