If you’re a fan of fashion, then you’ve probably heard of the iconic brand Gucci. The luxury brand is known for its high-end products, but do you know who owns Gucci? Many people assume that the brand is still owned by the Gucci family, but the truth might surprise you.
Who founded Gucci?
Before we dive into who currently owns Gucci, let’s take a quick look at its history. The brand was founded in 1921 by an Italian businessman named Guccio Gucci. At first, Gucci primarily sold leather goods like bags and luggage, but over time the brand expanded to include clothing, shoes, and accessories.
When did the Gucci family own Gucci?
For many years, the Gucci family did indeed own and run the company. After Guccio passed away in 1953, his sons took over and helped to grow the business even further. In fact, during the 1970s and 1980s, Gucci experienced a period of rapid expansion that turned it into one of the most recognizable luxury brands in the world.
However, things started to change in the 1990s. A series of family disputes led to several members selling their shares in the company. By 1999, none of Guccio’s direct descendants held any ownership stake in the brand.
Who owns Gucci now?
So if not the family, then who owns Gucci today? The answer is a bit complicated because it involves a larger parent company that also owns several other luxury brands.
In 1999, French multinational corporation Kering (then known as Pinault-Printemps-Redoute) acquired a controlling stake in Gucci Group NV. Over time, Kering increased its ownership until it became a majority shareholder in 2004.
Today, Kering still owns Gucci, as well as several other high-end brands like Saint Laurent, Bottega Veneta, and Balenciaga. However, it’s worth noting that Alessandro Michele, who has been the creative director of Gucci since 2015, has brought back many of the brand’s iconic design elements and helped to make it one of the most popular luxury labels once again.
Conclusion
In conclusion, while the Gucci family did once own and run the company, they haven’t had any ownership stake in it since 1999. Today, Gucci is owned by Kering, a parent company that also owns several other luxury brands. Regardless of who owns it though, there’s no denying that Gucci will always be an iconic name in the fashion world.