2004 Annual Report - Benetton Group

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2004 net sales by brand [in %] Net sales by brand [in %] United Colors of Benetton 72.0 % United Colors of Benetton 67.5% Ricavi x settore di attività United Colors of Benetton 72.0% Other 6.4% Playlife 2.0% Killer Loop 0.7% Sisley 18.9% Revenues by activity [in %] Casual 89.2% Casual 84.9% Sisley 18.9% Sisley 19.0% Killer Loop 0.7% Playlife 1.4% Playlife 2.0% Sportswear and equipment 4.4% Sportswear and equipment 8.6% Other 6.4% Other 6.2% Rollerblade 3.3% Nordica 0.3% Prince and Ektelon 1.5% Killer Loop 0.8% Manufacturing and other 6.4% Manufacturing and other 6.5% 2004 2003 2004 2003 D I R EC TO R S’ R E P O RT 13
D I R EC TO R S’ R E P O RT 14 headquarters, dispatches of products according to required delivery date and geographic location of the customer, combining timeliness of information and better control of the business. The new Product Technical function was brought into operation, which, acting as a link between product, operations and commercial functions, focuses efforts and resources on the common objectives of innovation and programming, also working with research centers, universities and laboratories. Human resources During the year, Human Resources function concentrated on the development of an organization which is able to merge the innovative capacity of new resources with the company culture that encompasses the experience and strong managerial tradition of Benetton. “The human capital at the center of the company, a mix of innovative abilities and historical knowledge.” Andrea Negrin, Human Resources Officer One of the many projects under development to be implemented was Project Vivaio, aimed at identifying company resources of high-potential young people, to be integrated, in line with the company’s multicultural and international vision, with talents coming from all over the world, people with innovative abilities to be fitted into the three key areas of sales and marketing, product and operations. Another important project implemented in the year was the Product Technology Center, a center of excellence which cooperates with the most prestigious international institutes and universities [from the Massachusetts Institute of Technology to The Milan Politecnico], dedicated to the development of new and innovative materials, fabrics and products to be introduced into the production lines. Information technology The most significant initiative in the year was part of Project Phoenix, of which the main objective is to support the core business through total systems integration. A new production planning project was initiated which provides for a complete review of the process and for “Investments in Information Technologies are the new frontier of competition.” Adolfo Pastorelli, Chief Information Technology application and technological updating of the systems used. This project forms part of a complete review of the production and logistics structure in order to achieve a shorter time to market than at present, and with optimized and coordinated customer deliveries. The work related in particular to the merchandized products support system [from planning to production by the chosen supplier, from Benetton quality control to delivery to the customer] with high savings in terms of costs and time. IT support was also implemented for
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Notes to the consolidated financial
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Accounting principles and valuation
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Reserves for risks and charges. The
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Article 2423, paragraph 4, of the I
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N OTES TO TH E C O N SO LI DATE D F
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Reconciliation of the Shareholders
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[16] Reserve for employee terminati
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[19] Due to other lenders [thousand
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[23] Other payables Other payables
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Comments on principal items in the
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Production costs [29] Raw materials
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[33] Amortization, depreciation and
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[37] Interest and other financial e
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[41] Taxes on income for the year,
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Glossary
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G LOSSA RY 104 Net Financial Positi
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2005 financial calendar Date 2005 S
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2004 Annual Report - Benetton Group

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