The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

BENETTON (BAHAMAS) is set to re-brand its stores and launch a new multi-branded clothing boutique this April, after the billion-dollar Italian clothing giant closed retail locations in North America, Canada and the Caribbean as part of a major restructuring to improve profitability.

In a statement sent to Tribune Business, Benetton (Bahamas) directors announced that United Colors of Benetton will be re-branding its local stores to make way for a new women’s, men’s and children’s boutique.

“The directors of Benetton Bahamas’ decision to re-brand comes after Benetton, Italy, announced in May 2014 that it will be closing its retail locations in North America, Canada and the Caribbean,” they said.

The statement continued: “Zarita will be a multi-branded women’s, men’s and children’s ready-to-wear fashion boutique, inspired and sourced from Spain, Italy and New York. The multi-branded fashion boutique will carry one of the hottest brands in the fashion scene. Direct from Barcelona, Spain, the bright, bold and colorful Desigual.”

Zarita will be launched in April 2015. Benetton has operated in the Bahamas for about 28 years with as many as four locations, which have now been reduced to three. The seven persons currently employed with Benetton are expected to continue their employment under Zarita.

The Benetton Group had as many as 6,500 stores in 120 countries. The company has undertaken a three-year restructuring programme to improve profitability, while slashing jobs and divesting some of its long-held brands.

Benetton has come under heavy criticism from human and labour rights activists for failing to compensate victims of the Rana Plaza collapse, which killed 1,134 and left thousands injured in Bangladesh back in April 2013. The incident has been described as one of the worst industrial accidents of the 21st century. It has been reported that at least 29 global clothing brands had recent or current orders with at least one of the five garment factories in the Rana Plaza building.