Luciano Benetton
Billionaire Co-Founder of Benetton Group

Published on March 28 2014

Luciano Benetton is a 78 year old Italian and a co-founder of the Benetton Group (a fashion label) as well as a Director in Edizione Holding Company. With a net worth of $3.1 billion, he is 14th among Italy’s richest men and women. He has also served as a Senator under the Partito Repubblicano Italiano (Italy’s liberal political party) from 1992 to 1994.

Being the eldest among his four siblings, Luciano began his enterprising ways at a very early age due to the death of his father that forced him to work as a shop attendant in a clothes shop to support his family. As fate would have it, his sister Giuliana knit him a yellow jumper that people admired.

And thus began Luciano’s supplying of sweaters knit by Giuliana and her neighbors to the store where he worked. Consequently, in 1965, Luciano and his brothers Gilberto and Carlo together with their sister Giuliana founded the Benetton Group and opened their first factory.

Over the years, the siblings have grown this small franchise to the Benetton Group that now has over 6,500 stores in 120 countries. Moreover, the family has diversified into various sectors including duty free shops, sports and infrastructure under the management of Edizione Holding Company.

Notwithstanding, the older Benettons have handed over the reins of power at the Benetton Group to the younger ones and consequently Alessandro Benetton, Luciano’s son, is the current Chairman of the group. However, Luciano and his siblings remain on Edizione’s Board of Directors.

Luciano is an ardent fan of contemporary art; he created Imago Mundi a collection of more than 1,000 paintings each no larger than a postcard. The paintings were done by up-coming artists from around the word and were exhibited in Venice. He is married, has four children and resides in Treviso, Italy.

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References:

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