The Gucci family is one of the most prominent Italian families in the fashion industry. The company was founded by Guccio Gucci in 1921, and since then, it has grown to become a global luxury brand.
Over the years, many members of the family have been involved in the management and ownership of the company. However, with a complicated history of power struggles and legal battles, it can be challenging to understand who exactly inherited the Gucci fortune.
In 1993, Maurizio Gucci, the grandson of Guccio Gucci and former head of the company, was assassinated by a hitman hired by his ex-wife Patrizia Reggiani. After his death, his two daughters inherited his 50% stake in the company. However, this did not give them control over the brand as there were other shareholders involved.
In 1999, French luxury goods conglomerate Pinault-Printemps-Redoute (PPR), now known as Kering SA, acquired a controlling stake in Gucci. This move was initiated by CEO Francois-Henri Pinault after he had a falling out with Maurizio’s cousin and then-CEO Domenico De Sole.
The acquisition sparked a legal battle between PPR and LVMH Moët Hennessy Louis Vuitton SE (LVMH), another luxury goods conglomerate that had also been eyeing Gucci. The dispute ended with PPR acquiring complete ownership of Gucci in 2004.
Today, Kering SA owns several luxury brands including Saint Laurent, Alexander McQueen, Balenciaga, and Bottega Veneta. The current CEO of Kering SA is Francois-Henri Pinault.
In conclusion, while Maurizio’s daughters did inherit part of the Gucci fortune after their father’s death, control over the company eventually went to French luxury goods conglomerate PPR (now Kering SA). Today, the company remains under the ownership of Kering SA and is run by CEO Francois-Henri Pinault.
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