Italian fashion group Benetton eyes Serbian clothes factory Niteks.

By bne IntelliNews July 28, 2010
Representatives of Italian clothing manufacturer and retailer Benetton have shown interest in Serbian clothing producer Niteks, Serbian Blic news agency reported. Representatives of the Italian retailer have recently visited the company, however, it is not yet clear whether Benetton is planning to buy Niteks or use it as a production facility. A decision should be taken by mid-August, a source from the Nis city authorities told Blic. ,,We have no confirmation that Benetton is really interested in our company. We need to put things in order at Niteks before we start cooperating with Benetton or any other company," trade unions representatives Zoran Tosic said. Niteks currently employs 660 but they are all on paid leave. The Benetton Group is present in 120 countries across the world. Its core business is fashion apparel and its brands include United Colors of Benetton, Sisley and Playlife. The company has a network of around 6,000 stores around the world and an average annual turnover of around EUR 2bn.

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