If you’re a fashion enthusiast, then you’ve probably heard of the brand Gucci. It’s a luxury fashion house that produces high-end clothing, accessories, and beauty products.
Gucci is known for its iconic double G logo, which has become a symbol of luxury and status. But have you ever wondered who owns Gucci? In this article, we’ll delve into the ownership of this iconic fashion brand.
The Early Days of Gucci
Gucci was founded in 1921 by Italian businessman Guccio Gucci. The brand started as a small leather goods company in Florence, Italy.
Initially, it produced leather bags and luggage items for wealthy travelers. As the business grew, Guccio’s sons Aldo, Vasco, and Rodolfo joined him to expand the product line and open new stores in different parts of Italy.
Changes in Ownership
In 1989, the family-owned business encountered financial difficulties due to internal conflicts between family members over control of the company. As a result, they decided to sell their shares to Investcorp – an international investment group based in Bahrain.
Investcorp acquired 50% of the shares and took control of the company’s management. In 1993, Investcorp acquired additional shares from other shareholders and became the majority owner of Gucci.
The Tom Ford Era
In 1994, Investcorp hired American designer Tom Ford as Creative Director for Gucci. Under Ford’s leadership, Gucci experienced a renaissance and became one of the most influential fashion brands in the world.
In 1999, French luxury group Pinault-Printemps-Redoute (PPR) acquired a controlling stake (42%) in Gucci through one of its subsidiaries. PPR later changed its name to Kering in 2013.
Current Ownership
Today, Kering owns 100% of Gucci. The brand is one of Kering’s key assets and generates a significant amount of revenue for the company. In addition to Gucci, Kering owns several other luxury fashion brands, including Saint Laurent, Balenciaga, Bottega Veneta, and Alexander McQueen.
Conclusion
In summary, Gucci has undergone several changes in ownership over the years. Today, it’s owned by French luxury group Kering. Despite these changes in ownership and management, Gucci has remained true to its roots and continues to produce high-quality luxury goods that are loved by people all over the world.