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Gilberto Benetton, co-founder of United Colors brand, dies at 77

Gilberto Benetton, co-founder of United Colors brand, dies at 77

Gilberto Benetton, one of four co-founders of the United Colors of Benetton, died at 77, the Benetton group said in a brief statement.

Benetton, the Italian group, lost another its c0-founder, Gilberto. Bennetons have lost in July the youngest brother, Carlo, three months after, Gilberto passed away. As of October, 22, the real-time net worth of Mr Benetton was 2.7 billion dollars, according to Forbes.

“Gilberto Benetton died at home today in Treviso following a brief illness,” the Benetton group said in a brief statement. “His wife Lalla, daughters Barbara and Sabrina and son-in-law Ermanno were with him in his final moments,” the official statement reads.

In 1965, Luciano, Carlo, Gilberto and their sister Giuliana have launched a homemade production line in the village in the vicinities of Venice. Ther knitting sweaters were bright, warm but thin – that allowed Benetton’s things to sit stylish and gorgeous. In fact, Benetton sweaters proved popular items in Italian stores, so a fashion brand was born.

The soft wool jumpers made in a variety of colours quickly seduced the masses and became the signatures of the family brand. In the 1980s, the Italian company became the world-famous mark. While the advertising campaigns with pictures made by photographer Oliviero Toscani added a uniqueness to the fashion brand, Gilberto Benetton with his strategic vision has expanded the power of UCB across the world.

Gilberto Benetton, a financial wizard of a family brand

At the time of his death, Gilberto Benetton was vice-president of Edizione, the family holding company. According to Forbes, Edizione last year booked annual revenue of €12.1 billion from a business empire that stretches far beyond trendy tops to include telecoms, toll roads, catering and agriculture.

He was considered to be the one behind Benetton’s diversification away from its original clothing base, Gilberto’s real-time net worth was 2.7 billion dollars.