Benetton lags as Levi’s, Pepe Jeans, Zara gain ground in India

Despite being an early entrant – almost 25 years ago – way ahead of many of global brands, Benetton has lost ground to late entrants and not been able to cash in on its early mover advantage. In fact, brands like Gap and Levi’s have grown much faster. Benetton India’s profits fell sharply by 79 per cent to Rs 2.3 crore in FY16 with sales rising just 2.2 per cent to Rs 735.3 crores, as per registrar of companies figures. In contrast, Levi Strauss reported a net profit of Rs 79.4 crores in 2015-16, up 64 per cent over previous year with sales growing at 18.5 per cent to touch Rs 752.7 crores.