Gucci is a luxury fashion brand that has gained immense popularity over the years. It is known for its exquisite designs, high-quality materials, and impeccable craftsmanship. The brand has become a status symbol for many people around the world, with its products being highly sought after by fashion enthusiasts.
But who actually owns Gucci? Is it an Italian company or does it belong to another country? In this article, we will explore the ownership of Gucci and shed light on the history of this iconic brand.
History of Gucci
Gucci was founded in 1921 by Guccio Gucci in Florence, Italy. Initially, the company specialized in leather goods such as bags and luggage. Over time, Gucci expanded its product offerings to include clothing, shoes, and accessories.
The brand became known for its signature motifs such as the double G logo and the horsebit detail. These design elements are still prevalent in Gucci’s products today and are instantly recognizable to fashion enthusiasts worldwide.
Ownership of Gucci
In 2001, Gucci was acquired by Kering (formerly known as PPR), a French luxury goods holding company. Kering also owns other high-end brands such as Saint Laurent, Alexander McQueen, and Balenciaga.
Despite being owned by a French company, Gucci remains headquartered in Florence and continues to produce its products in Italy. The brand’s creative director Alessandro Michele is also Italian.
The Impact of Ownership Changes
Gucci’s ownership has changed hands multiple times throughout its history. In the 1980s and early 1990s, the brand faced financial struggles due to internal conflict among family members who owned shares in the company.
To save the business from bankruptcy, Maurizio Gucci (the grandson of the founder) sold his shares to Investcorp – a Bahrain-based investment bank. Investcorp then sold the brand to the Gucci Group in 1993, which was led by Tom Ford.
Under Tom Ford’s leadership, Gucci experienced a resurgence in popularity and financial success. However, in 2004, Ford left the company due to a disagreement with management. This led to a decline in sales for Gucci until Alessandro Michele was appointed creative director in 2015.
In Conclusion
Gucci is currently owned by Kering, a French luxury goods holding company. Despite this change in ownership, the brand remains true to its Italian roots and continues to produce its products in Italy. The impact of ownership changes has been significant for Gucci throughout its history, but the brand has managed to come out stronger each time.
Whether you are a fashion enthusiast or simply appreciate high-quality products, Gucci’s rich history and iconic designs make it a brand worth knowing about.