Benetton chairman steps down



PONZANO - After 47 years, Benetton Group's co-founder and chairman Luciano Benetton, 77 is handing the reins over to son Alessandro. First exploding on the world's stage in Eighties for its brash and dynamic ad campaigns, United Colours of Benetton has seen a dip in popularity over the past decade due to retail game-changers such as Zara and H&M.

The news of Benetton's retirement comes after a decision by the group to delist from the Milan Stock Exchange. Looking healthy and fit, Benetton seems to have some secret access to the fountain of youth sharing his retirement plans with the local media: "planning to continue sailing around the world." Bon voyage Luciano!