Gucci is one of the most iconic and luxurious fashion brands in the world. Founded by Guccio Gucci in Florence, Italy in 1921, it has grown to become a household name synonymous with high-end fashion.
Over the years, Gucci has been passed down through several generations of the Gucci family. Today, we will explore who inherited Gucci and how the brand has evolved over time.
Early Years of Gucci
Guccio Gucci was born into a family of artisans in 1881. He worked as a hotel worker and gained experience working with high-end guests’ luggage.
His experience inspired him to create his own luxury luggage line. In 1921, he founded the House of Gucci in Florence, Italy.
Under his leadership, Gucci became known for its high-quality leather goods and quickly gained popularity among wealthy clientele. The brand’s signature products included handbags, shoes, and belts made from fine leather and adorned with the iconic double-G logo.
Gucci’s Succession Plans
After Guccio’s death in 1953, his sons Aldo, Vasco, Ugo, and Rodolfo took over the business. Together they expanded the brand’s offerings beyond leather goods into clothing and accessories.
However, this expansion led to tensions between the brothers that resulted in a power struggle for control of the company. In 1983 Maurizio Gucci (Aldo’s son) became CEO after purchasing his uncle Rodolfo’s shares in the company.
Maurizio’s Fall from Grace
Maurizio inherited a thriving business that was worth billions of dollars at the time but soon found himself unable to keep up with competitors like Louis Vuitton and Prada.
In 1995 he sold his shares to Investcorp for $170 million and stepped down as CEO. Investcorp then sold Gucci to Tom Ford and Domenico De Sole in 1999.
Current Owners of Gucci
Today, Gucci is owned by the French luxury conglomerate Kering. Kering acquired the brand in 2004 and has since overseen its resurgence as one of the most sought-after luxury brands in the world.
Under the leadership of creative director Alessandro Michele, Gucci has been reinvigorated with bold designs and a renewed focus on its heritage. The brand’s collections are known for their whimsical prints, vibrant colors, and unique accessories.
Conclusion
In conclusion, Gucci has had a tumultuous history with multiple changes in ownership over the years. However, it remains one of the most iconic and luxurious fashion brands in the world today. Its continued success is a testament to its enduring legacy and commitment to innovation and creativity.