Gilberto Benetton dead: United Colors of Benetton co-founder dies aged 77

Businessman passes away at his home in Italy after short illness, family say

Gilberto Benetton in Milan in 2007 (AP)

Gilberto Benetton, co-founder of Italian clothing retailer United Colors of Benetton, has died aged 77.

The businessman's family said on Monday he died at his home in the northern Italian city of Treviso, where the company is based, after a short illness.

Gilberto launched the company in 1965 with his siblings Carlo, Luciano and Giuliana, eventually turning it into a global brand and later masterminding the family empire's diversification into construction, transport and catering.

He was the former head of family holding company Edizione, which controls Italy's biggest infrastructure group Atlantia.

In a statement, the chairman of Atlantia, Fabio Cerchiai, and chief executive Giovanni Castellucci said they shared the family's pain at Mr Benetton's death.

With its brightly coloured sweaters and infamous ad campaigns, United Colors of Benetton rose to fame in the 1980s and 1990s, but faced headwinds in recent times as demand for its products fell.

Besides Atlantia, the Benettons, one of Italy's richest families, also control travel caterer Autogrill and Rome's airports.

As the only member of the family on the Atlantia board, Gilberto faced a major crisis when a bridge in Genoa operated by a unit of Atlantia collapsed in August, killing 43 people.

Earlier this year Atlantia agreed a deal with Spanish builder ACS to take control of motorway group Abertis .

Additional reporting by agencies