Benetton sales down 10 percent in 2013

REPORT_ Though the Benetton Group was able to reduce its debt levels last financial

year, its sales decreased 10 percent compare to the year before. Company reported sales of 1.6 billion euros (Rs 13, 238 crores) for the financial year. The group plans to invest about 100 million euros (Rs 832.8 crores) a year, over the next three years.

The Italian retailer, having Sisley under its portfolio said that its same store sales based upon the sample taken from the group's most significant retail locations around the world were up 17.7 percent in the last quarter of 2013 as well as first quarter of 2014.

Moving ahead, the company has chalked out a strategy with a renewed business model centred around the end consumer and a focus exclusively on the main brands and on the markets with the biggest opportunities for their business. The group had earlier announced its three year restructuring plan in November last year.