Gucci is an Italian luxury brand that has been a prominent name in the fashion industry for decades. The brand was founded in 1921 by Guccio Gucci and has since then become a global sensation.
However, in 1993, the brand faced a major setback when it fell into financial troubles. This is when Investcorp stepped in and acquired a 50% stake in Gucci.
Investcorp is a global investment firm that specializes in alternative investments such as private equity, real estate, and hedge funds. The firm was founded in 1982 and has its headquarters in Bahrain.
Over the years, Investcorp worked closely with Gucci’s management team to turn the company’s fortunes around. Under their guidance, Gucci underwent a major transformation that saw the brand become one of the leading luxury brands in the world.
In 2004, after more than a decade of ownership, Investcorp decided to sell its stake in Gucci. The sale was completed for $2.3 billion and involved splitting up the shares between several buyers.
PPR (now known as Kering) was one of the buyers who acquired a significant stake in Gucci. PPR is a French multinational luxury goods conglomerate that owns several other luxury brands such as Saint Laurent, Bottega Veneta, and Balenciaga.
The other buyers included several institutional investors such as JPMorgan Chase & Co. and Deutsche Bank AG who acquired shares on behalf of their clients.
The sale of Investcorp’s stake marked the end of an era for Gucci but also signaled a new beginning for the brand under its new owners. Since then, Gucci has continued to thrive and evolve under Kering’s leadership.
In conclusion, Investcorp sold its stake in Gucci to multiple buyers including PPR (now known as Kering) and several institutional investors back in 2004 for $2.3 billion. This sale marked a significant turning point for Gucci and the luxury fashion industry as a whole.
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Gucci is one of the most recognized fashion brands in the world, known for its luxurious designs and high-end products. However, the story of how Gucci came to be what it is today is a fascinating one. One question that often comes up is who bought Gucci from the family?
