Gucci is one of the most popular luxury fashion brands in the world. However, there has been some confusion around who actually owns Gucci. In this article, we will answer the question – does Kering own Gucci?
Who is Kering?
Kering is a French multinational corporation that specializes in luxury goods. It was founded in 1963 by Francois Pinault and has since become a major player in the fashion industry. The company owns several high-end fashion and lifestyle brands, including Saint Laurent, Bottega Veneta, Balenciaga, and Alexander McQueen.
The History of Gucci
Gucci was founded by Guccio Gucci in Florence, Italy, in 1921. The brand quickly became known for its high-quality leather goods and accessories, such as handbags and shoes. Over time, Gucci expanded into clothing and other luxury items and became one of the most recognizable fashion brands in the world.
Kering’s Acquisition of Gucci
In 1999, Kering (then known as Pinault-Printemps-Redoute) acquired a 42% stake in Gucci after a bitter legal battle between Gucci and LVMH (another major luxury goods company). Over time, Kering increased its stake in Gucci until it owned 100% of the company’s shares.
What does this Mean for Gucci?
Since becoming a wholly-owned subsidiary of Kering, Gucci has continued to thrive as one of the world’s leading luxury fashion brands. Under Kering’s ownership, Gucci has undergone a significant transformation under creative director Alessandro Michele. From his debut collection for the brand in 2015 onwards, Michele has reinvigorated the brand with his bold and eclectic designs that have proved popular with consumers around the world.
Conclusion
So, does Kering own Gucci? Yes, Kering is the current owner of Gucci.
However, this hasn’t stopped Gucci from continuing to thrive as one of the most iconic fashion brands in the world. With Kering’s support and guidance, Gucci remains at the forefront of luxury fashion and is sure to continue to captivate audiences for years to come.