There is a widespread misconception that the Gucci family still owns and operates the luxury fashion brand, Gucci. However, this is not entirely true.
Who Founded Gucci?
Gucci was founded in 1921 by an Italian businessman named Guccio Gucci. He started the company as a small leather goods store in Florence, Italy. Over the years, the brand grew in popularity and expanded its product line to include clothing, accessories, and fragrances.
The Rise of Gucci
Under the leadership of Aldo Gucci, one of Guccio’s sons, the brand experienced exponential growth in the 1950s and 1960s. It became a symbol of luxury and was favored by celebrities such as Grace Kelly and Audrey Hepburn.
The Family Feud
However, internal family feuds led to a decline in the brand’s success in the 1980s. Maurizio Gucci, one of Aldo’s nephews, took control of the company but was eventually ousted by his own family members due to disagreements over management.
In 1993, Maurizio sold his stake in the company to an investment group which eventually led to a full takeover by French luxury conglomerate Kering (formerly known as PPR).
Current Ownership
Today, while no member of the Gucci family holds an ownership stake in the brand they founded, it still remains one of the world’s most iconic luxury fashion houses under Kering’s ownership.
In Conclusion
So does the Gucci family still own Gucci? No.
But their legacy lives on through the brand they created almost a century ago. While there may have been changes in ownership over time, what has remained constant is Gucci’s commitment to producing high-quality fashion items that continue to capture our imagination and inspire us.