Mauricio Gucci, the former head of the Italian fashion company Gucci, was assassinated on March 27th, 1995. The murder sent shockwaves through the fashion industry and captivated the world’s attention.
The Rise of Gucci
Gucci was founded in Florence in 1921 by Guccio Gucci. The company quickly gained recognition for its high-quality leather goods and became a symbol of Italian luxury. Mauricio Gucci, the grandson of Guccio Gucci, took over as head of the company in 1983.
Under Mauricio’s leadership, Gucci underwent a major transformation. He brought in new designers and expanded the brand’s offerings to include clothing, accessories, and perfume. Mauricio also oversaw an aggressive international expansion that helped make Gucci one of the most recognizable luxury brands in the world.
The Downfall
Despite his success at revitalizing the brand, Mauricio’s tenure was marked by infighting with his family members over control of the company. In 1989, he sold a controlling stake in Gucci to Investcorp, a Bahrain-based investment firm.
Mauricio remained involved with the company after it was sold but his relationship with Investcorp soured over time. He accused them of mismanaging the company and diluting its brand image by licensing out its name to be used on lower-end products.
In 1993, Investcorp ousted Mauricio from his position at Gucci. He was replaced by Domenico De Sole, who had previously been brought on board by Mauricio to help turn around the struggling company.
The Assassination
Two years after he was ousted from his position at Gucci, Mauricio was gunned down outside his office building in Milan. His ex-wife Patrizia Reggiani was later convicted for arranging his murder. Reggiani had been dubbed the “Black Widow” by the Italian press for her alleged involvement in the murder.
Reggiani was sentenced to 29 years in prison for her role in the assassination. However, she was released early in 2016 after serving 18 years.
The Legacy of Gucci
Mauricio’s death marked the end of an era for Gucci. After a period of turmoil, the company was eventually acquired by French luxury conglomerate Kering (then known as PPR) in 2004. Under Kering’s ownership, Gucci has continued to be one of the world’s leading luxury brands.
Despite Mauricio’s tragic end, his legacy lives on through Gucci. The brand continues to be associated with Italian luxury and high fashion, and its products are beloved by fashionistas around the world.