Maurizio Gucci, the former head of the iconic Italian fashion house, Gucci, is a name that still lives on in the fashion industry. His life was full of twists and turns, including a family feud that led to his untimely death. One of the most debated questions about Maurizio Gucci is whether he sold his shares in the company or not.
What led to the sale of Gucci?
In the early 1980s, Gucci was facing financial difficulties due to poor management and family disputes. Maurizio’s uncle Rodolfo controlled 50% of the company’s shares, while Maurizio and his siblings owned only 20%. Rodolfo had been running the company for years and had become increasingly conservative in his approach.
Maurizio wanted to modernize Gucci and take it in a new direction. He decided to sell his shares to Investcorp, a Bahrain-based investment firm that purchased a controlling stake in Gucci in 1989. This move angered his uncle, who saw it as a betrayal of family ties.
Did Maurizio sell all his shares?
There is no clear answer to this question as there are conflicting reports about whether Maurizio sold all his shares or not. Some sources claim that he sold all of them while others suggest he retained some ownership.
It is known that after Investcorp took over, Maurizio remained involved with the company as chairman until he was ousted in 1993. During this time, he reportedly continued to hold some shares in Gucci.
The aftermath
The sale of Gucci proved to be a turning point for the brand. Under new leadership, it underwent a complete overhaul and repositioned itself as a luxury brand with global appeal. The brand flourished under Tom Ford’s creative direction from 1994-2004 before being acquired by French luxury conglomerate Kering in 2004.
As for Maurizio Gucci, his life took a tragic turn. He was eventually ousted from the company he had helped build and became embroiled in a bitter feud with his ex-wife Patrizia Reggiani. In 1995, he was shot dead by a hitman hired by Reggiani.
Conclusion
In conclusion, it is still unclear whether Maurizio Gucci sold all his shares or not. However, what is certain is that the sale of Gucci to Investcorp marked a significant turning point for the brand and paved the way for its success in the years to come. Despite the tragedy surrounding Maurizio’s death, his legacy lives on as part of one of the most iconic fashion brands in history.
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