Benetton seeks to cure ailing economy with ‘fresh’ ideas

The chairman of Italy’s Benetton clothing group launched a new campaign on Tuesday highlighting the global youth unemployment — a problem that he warned could spread from Europe to high-growth countries. Dipankar De Sarkar writes.

The chairman of Italy’s Benetton clothing group launched a new campaign on Tuesday highlighting the global youth unemployment — a problem that he warned could spread from Europe to high-growth countries.

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“This is a global campaign,” said Alessandro Benetton. “One of the elements of globalisation is that nobody is immune from somebody else’s problem. If the European Union and the US are linked, you will discover even Brazil and China can be affected. What is not a problem eventually will become a problem.”

Under the campaign, Benetton will award €5,000 ($6,600) each to a hundred 18-to-30-year-old unemployed youths from around the world to support their “ideas of change.” Participants at the ‘Unemployee Contest’ must create a Facebook profile and upload their proposal on the ‘Unhate Foundation’ website at www.unhatefoundation.org.

With 500 stores and sales touching €100 million, India is one of Benetton’s key growth markets. “India is, to a certain extent, almost like a home market,” said Benetton. “We’ve been around since the mid-90s and it’s a special feeling for that country.”