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Benetton & Sears finalise strategic partnership

27
May '08
The Group will significantly extend its presence in Mexico, through this and other agreements, with a total of 250 points of sale in both Sears Mexico department stores and new stores by 2010.

Benetton Group and Sears Mexico, the leading retailer of the multinational holding Grupo Carso, have finalised a strategic partnership aimed at expanding the United Colors of Benetton brand in Mexico. An agreement was signed in Mexico City by Alessandro Benetton, executive deputy chairman of Benetton Group, and Carlos Slim Domit, chairman of the board of Sears Mexico.

Under the agreement, points of sale offering the quality and fashion identity of the UCB collections for women, men and children, will open in Sears department stores across Mexico. With the parallel opening of 50 new UCB stores, Benetton Group will reach a total of around 250 retail outlets in just three years, decisively expanding its presence in the country. With its rapid economic growth and young population (60% below 24 years of age), Mexico is considered one of the key markets on the American continent.

“Working in collaboration with such an important partner”, commented Alessandro Benetton, “will enable us to accelerate United Colors of Benetton's success and development in Mexico. We have established a solid alliance with Sears based not only on our shared objective regarding high quality products, retailing and customer service, but also on the common Latin spirit of our corporate identities and backgrounds.


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