If you’re into fashion, you’ve probably heard of Gucci. The luxury brand is known for its high-end clothing, accessories, and fragrances.
But who owns Gucci? Is it part of LVMH, the conglomerate that owns other luxury brands like Louis Vuitton and Dior? Let’s dive into the history of Gucci and its ownership.
History of Gucci
Gucci was founded in 1921 by Italian businessman Guccio Gucci. The brand started as a small leather goods shop in Florence, but it quickly gained popularity thanks to its high-quality products. In the 1950s and 60s, Gucci became a status symbol among celebrities and wealthy individuals.
However, by the 1980s, Gucci was struggling financially due to poor management and family feuds. In 1990, Maurizio Gucci (the grandson of the founder) sold his stake in the company to an investment group. This led to a series of ownership changes over the next decade.
Gucci’s Current Owner
Today, Gucci is owned by French luxury conglomerate Kering. Kering (formerly known as PPR) acquired a majority stake in Gucci in 1999 and eventually bought out the remaining shares in 2004.
Kering is also the parent company of other luxury brands like Saint Laurent, Balenciaga, and Alexander McQueen. Unlike LVMH, which focuses on acquiring multiple fashion houses under one umbrella, Kering tends to own fewer but more exclusive brands.
Is Gucci Owned by LVMH?
So no, Gucci is not owned by LVMH. While both companies operate in the luxury fashion industry and have some overlapping brands (such as Fendi), they are separate entities with different ownership structures.
It’s worth noting that there has been some speculation over the years about a potential merger between LVMH and Kering. However, as of now, both companies remain independent.
Conclusion
In summary, Gucci is currently owned by Kering, a French luxury conglomerate that also owns other high-end fashion brands. While there has been talk of a possible merger with LVMH in the past, Gucci remains under the ownership of Kering.
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