On Tuesday, Benetton’s board of directors approved the Italian fashion group’s preliminary results for 2006. Consolidated revenues rose 8.4 percent to €1.913 million, up from €1.765 million in 2005. Net income growth was in line with expectations, at around 6.5 percent of revenues.

The trends for this year’s revenues are “decidedly positive”. The company has estimated that the growth rate for the next few years should be at least 6 to 8 percent. Orders for 2007 were in line with the new structure of the product offering, which is more spread out over the year. However, the first months have already made it possible to pinpoint a trend for the year. Growth in 2007 will result from an increase in volume and product mix in all clothing areas, especially in accessories and shirts. Growth is also expected in foreign markets, particularly in the Mediterranean region, Eastern Europe, China and India. Greater segmentation of the product offering is expected to drive results in Italy. Gross earnings are expected to increase by 20 percent. The group will also continue to develop, with investments to be between €250 and €300 million, mainly in the logistics, IT and production side of the business. “The positive trend in 2006 is confirmation of the effectiveness of commercial policies launched in previous years and of the continuous improvement in service to the client, both in terms of speed and richness of the product offering, in which we are continuing to invest in 2007,” group chairman Luciano Benetton said in a statement. “As from this year, we can confidently dedicate our resources to supporting growth in strategic and fast developing areas, assisted by the professionalism and enthusiasm of our partners”.

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