Investcorp is a global asset management company that has been in operation for over 35 years. It is known for its investments in various industries, including real estate, private equity, and alternative investments.
However, one question that has often been asked is whether Investcorp owns Gucci. In this article, we will explore this question and provide an answer.
What is Investcorp?
Investcorp was founded in 1982 and is headquartered in Bahrain. The company has offices in various locations around the world, including New York, London, and Abu Dhabi. It manages over $22 billion worth of assets and has a reputation for investing in profitable businesses.
What is Gucci?
Gucci is an Italian luxury brand that was founded in 1921 by Guccio Gucci. The brand produces high-end fashion items such as clothing, accessories, and fragrances. Over the years, it has become one of the most well-known luxury brands globally.
Does Investcorp own Gucci?
The short answer is no; Investcorp does not own Gucci. However, there is some history between the two companies that may have led to this question being asked.
In 1993, Investcorp purchased a majority stake in Gucci for $120 million. At the time, Gucci was struggling financially and had lost its reputation as a luxury brand due to poor management. With Investcorp’s financial backing and strategic guidance, Gucci was able to turn its fortunes around.
Over the next few years, Gucci experienced significant growth under the leadership of CEO Domenico De Sole and creative director Tom Ford. The company became profitable again and regained its status as a leading luxury brand.
However, in 2004, Investcorp sold its remaining stake in Gucci to French conglomerate Pinault-Printemps-Redoute (PPR) for $3 billion. PPR later changed its name to Kering, which is the current owner of Gucci.
Conclusion
In summary, Investcorp does not own Gucci. While the company did have a significant stake in Gucci in the past, it sold its shares to PPR (now Kering) in 2004. Today, Gucci is still one of the world’s leading luxury brands and is owned by Kering.