26 July 2006
Italian Bencom S.r.l., a wholly-owned commercial unit of local clothing retailer Benetton, has acquired a unit of Italian clothing company Cina S.r.l., it was reported on July 26, 2006.
The unit subject to the acquisition already holds a licence to sell clothing of Benetton's Sisley brand and generates an annual turnover of between 400,000 euro ($503,100) and 700,000 euro ($880,500).
The acquisition of Cina's unit is part of Benetton strategy to gradually acquire some of its distribution partner companies. Benetton also recently agreed a deal to buy 50 pct of textile and clothing retail L'Innominato, a subsidiary of Italian property and retail franchise group Percassi, which is in charge of commercial activities for Benetton brands United Colors of Benetton, Sisley and Playlife in 48 outlets in northern Italy.
Cina is mainly active in the Venice province in northern Italy.
(Editor's note: In the beginning of 2006, Italy's Antitrust Authority gave the green light to Bencom to buy two units of Italian clothing retailer Sole S.r.l., and a unit of local clothing company Valbene, Italy's fashion website Fashionmagazine.it reported on January 23, 2006.)