SERBIA: Benetton to open garment factory in Nis
Benetton sells brands like United Colours of Benetton, Sisley and Playlife in 120 countries worldwide
Italian fashion firm Benetton is to open a factory in the southern Serbian city of Nis as part of a EUR43.2m (US$59.4m) investment that is being backed by the Serbian government.
The retailer is taking over the Nitex facility in March, and the plan is begin manufacturing in May with up to one million garments produced by the end of the year. Projected annual turnover at full capacity is EUR72m, with most of the garments being exported.
Benetton plans to hire 2,700 people in Nis over the next four years, with the government subsidising each new job with EUR9,000.
Deputy Prime Minister and Minister of Economy and Regional Development, Mladjan Dinkic, described the investment as “the greatest event for the Serbian textile industry in the last ten years,” adding that it will help the south of Serbia to become a centre for garment production.
Benetton is Italy’s largest clothing retailer, and sells brands like United Colours of Benetton, Sisley and Playlife in 120 countries worldwide.
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