Does Gucci Family Still Own Gucci?

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Gucci is a luxury fashion brand that has been around for nearly a century. Founded in 1921 by Guccio Gucci, the brand has become synonymous with high-end fashion and sophistication.

However, over the years, there has been some confusion about who actually owns Gucci. In this article, we’ll take a closer look at the ownership of Gucci and answer the question: Does the Gucci family still own Gucci?

History of Gucci

Before we dive into the ownership of Gucci, let’s first take a brief look at the history of the brand. As mentioned earlier, Gucci was founded in 1921 by Guccio Gucci in Florence, Italy. Initially, the company specialized in leather goods such as handbags and luggage.

Over time, Gucci expanded its product line to include clothing, shoes, and accessories. The brand quickly became popular among high society and celebrities due to its high-quality craftsmanship and luxurious designs.

Changes in Ownership

In 1984, Maurizio Gucci – one of the grandsons of founder Guccio Gucci – took over as chairman of the company. However, he soon found himself embroiled in legal battles with other members of his family over control of the company.

In 1993, Maurizio was forced to sell his shares in the company to Investcorp – a Bahrain-based investment group. This marked the end of direct family ownership of Gucci.

Current Ownership

Since 1993, there have been several changes in ownership of Gucci. In 1999, French luxury conglomerate Kering (formerly known as PPR) acquired a 42% stake in the company. Over time, Kering increased its stake until it became the majority shareholder.

Today, Kering owns 100% of Gucci and controls all aspects of the brand’s operations. The Gucci family, on the other hand, no longer has any ownership stake in the company.

Conclusion

So, to answer the question – does the Gucci family still own Gucci? – the answer is no.

While the family played a significant role in the early days of the company, they have not had any ownership stake in Gucci since 1993. Today, Gucci is owned by Kering and continues to be one of the most iconic and recognizable luxury brands in the world.

  • Key Takeaways:
  • Gucci was founded in 1921 by Guccio Gucci in Florence, Italy.
  • The brand became popular for its high-quality craftsmanship and luxurious designs.
  • In 1993, Maurizio Gucci was forced to sell his shares in the company to Investcorp.
  • Kering (formerly known as PPR) acquired a majority stake in Gucci in 1999.
  • Today, Kering owns 100% of Gucci and controls all aspects of its operations.

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