benetton group 2023
Integrated report 2023
Company
Benetton Group is a fashion company renowned globally for its identity, comprising style, color, authentic fashion and quality at affordable prices, reflected in the personality of its United Colors of Benetton and Sisley brands, which are followed by millions of fans and customers worldwide. Leveraging its history built on innovation, Benetton Group pursues a strategy of ongoing investment in products, stores, logistics, digital, communication and sustainability. The result is a competent and flexible organization that faces contemporary challenges with determination, with a focus on the environment, human dignity and social transformation.
Governance
In a context of great changes and challenges, Benetton Group aims to develop a virtuous governance model that supports interaction between the top management and ownership, with a long-term perspective that guides business decisions. To maximize shared value creation, it is of the essence to integrate sustainability into business strategy, ensure an open and ongoing dialogue with stakeholders and conduct periodic due diligence and risk analyses.
People
In a context of great changes and challenges, Benetton Group aims to develop a virtuous governance model that supports interaction between the top management and ownership, with a long-term perspective that guides business decisions. To maximize shared value creation, it is of the essence to integrate sustainability into business strategy, ensure an open and ongoing dialogue with stakeholders and conduct periodic due diligence and risk analyses.
Nature
In nature, change occurs organically.
There is no growth without transformation. Like a living organism, Benetton Group is also constantly changing to adapt to the surrounding context, implementing a series of projects and initiatives that progressively transform its operations. In particular, the Company takes a holistic approach to managing its environmental impacts on water, biodiversity and climate, with a focus on risks to the business. This means that the Group carries out environmental impact analyses to define science-based objectives that result in the preparation of an action plan that enables it to address product design and have an impact on the entire supply chain.
Circularity
The adoption of a circular business model is the key to decoupling economic growth from resource consumption, thus preserving the natural environment and protecting the human rights of the people involved. A key step to take is the implementation of a product strategy that accelerates the transformation of collections by adopting eco-design principles, increasing the use of low-impact materials and involving the end consumer in the process.
The integration of circularity along the entire value chain - from design to end-of-life - is a long-term goal, but it must be pursued now, in light of the need for systemic changes in the entire fashion industry.