Have you ever wondered how much of Gucci does Kering own? Well, in this article, we will take a closer look at the ownership structure of one of the world’s most iconic fashion brands.
The History of Gucci and Kering
Founded in Florence, Italy in 1921 by Guccio Gucci, Gucci began as a small leather goods company. Over the years, it grew into a global luxury brand known for its high-end fashion and accessories. In 1999, French luxury conglomerate Kering (formerly known as Pinault-Printemps-Redoute or PPR) acquired a 42% stake in the company and later increased its ownership to 99.4%.
Kering’s Ownership Structure
Kering is a multinational holding company based in Paris, France. It owns several well-known luxury brands including Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta, and of course, Gucci. As of 2021, Kering owns 100% of Gucci’s shares.
The Importance of Kering’s Ownership
Kering’s acquisition of Gucci was a strategic move that helped the brand grow and reach new heights. Under the leadership of then-CEO Domenico De Sole and Creative Director Tom Ford, Gucci became one of the most successful luxury brands in the world. In fact, during their tenure from 1994 to 2004, sales grew from $230 million to over $3 billion.
Moreover, Kering’s ownership has allowed Gucci to focus on sustainability initiatives and ethical practices. As part of its commitment to reducing its environmental impact and promoting social responsibility, Gucci launched an initiative called “Gucci Equilibrium” in 2019.
Conclusion
In summary, Kering owns all of Gucci’s shares and has played a crucial role in the brand’s success over the years. With its commitment to sustainability and ethical practices, Gucci is not only a fashion icon but also a leader in promoting social responsibility. We hope this article has helped shed some light on the ownership structure of one of the world’s most beloved luxury brands.
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