What Company Owns Gucci Stock?

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When it comes to luxury fashion, Gucci is undoubtedly one of the most iconic brands in the world. But have you ever wondered who actually owns Gucci stock? In this article, we’ll take a closer look at the company behind this fashion powerhouse.

Who owns Gucci?

Gucci is owned by Kering, a French luxury goods holding company. Kering was founded in 1963 by Francois Pinault and is headquartered in Paris, France. Today, Kering owns several other luxury fashion brands besides Gucci, including Alexander McQueen, Balenciaga, Bottega Veneta, and Saint Laurent.

A Brief History of Gucci

Before we dive into Kering’s ownership of Gucci, let’s take a brief look at the history of this iconic brand. Guccio Gucci founded the company in Florence, Italy in 1921. The brand quickly gained popularity for its high-quality leather goods and became known for its signature double-G logo.

In the decades that followed, Gucci expanded its offerings to include clothing and accessories for both men and women. However, by the 1980s and 1990s, the company had experienced financial struggles due to poor management decisions and increased competition from other luxury brands.

It wasn’t until 1994 that Gucci began to turn things around under new CEO Domenico De Sole. De Sole brought on designer Tom Ford to revamp the brand’s image with sleek modern designs that appealed to a younger generation of consumers.

By 1999, Gucci had become one of the most profitable luxury fashion brands in the world. It was at this point that French conglomerate Pinault-Printemps-Redoute (PPR), now known as Kering, acquired a controlling stake in the company.

Kering’s Acquisition of Gucci

In March 1999, Kering (then known as PPR) acquired a 40% stake in Gucci for $3 billion. This move was controversial at the time, as it was seen as a hostile takeover attempt by PPR.

However, Gucci’s management team, led by De Sole, fought back against the takeover and eventually reached a settlement with PPR. Under the terms of the agreement, PPR acquired a 42% stake in Gucci and gained control of the company’s board of directors.

Over the next few years, Kering continued to increase its ownership stake in Gucci. By 2011, Kering had acquired full ownership of the brand and began focusing on expanding its luxury fashion portfolio with other acquisitions.

Conclusion

So there you have it – Kering is the company that owns Gucci stock. While some may argue that Gucci has lost some of its independent spirit since becoming part of a larger conglomerate, there’s no denying that the brand continues to be one of the most iconic and influential in the world of fashion.

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