Have you ever wondered who owns the luxury fashion brand, Gucci? Well, wonder no more! Let’s dive into the history of this iconic brand and its ownership.
History of Gucci
Gucci was founded in 1921 by Italian businessman, Guccio Gucci, in Florence, Italy. The brand initially started as a small leather goods shop but quickly gained popularity and expanded to include clothing and accessories.
In the 1950s and 1960s, Gucci became known for its signature horsebit loafers and bamboo-handled bags, which were popular among Hollywood celebrities. However, after Guccio’s death in 1953, the brand faced financial struggles and family feuds over ownership.
Who Owns Gucci?
Today, Gucci is owned by French luxury conglomerate company Kering. Kering acquired the brand in 1999 when it purchased a 42% stake in Gucci Group NV. In subsequent years, Kering increased its ownership to 100%, making Gucci a wholly-owned subsidiary of Kering.
Kering
Kering was previously known as PPR (Pinault-Printemps-Redoute) until it changed its name in 2013. The company was founded by French billionaire François Pinault and originally focused on retail businesses such as department stores and mail order catalogs.
In the early 2000s, PPR shifted its focus to luxury brands and began acquiring companies such as Yves Saint Laurent, Bottega Veneta, Balenciaga, and Alexander McQueen. The acquisition of Gucci was a significant move for PPR/Kering as it solidified their position in the luxury fashion market.
The Impact of Ownership on Gucci
Under Kering’s ownership, Gucci has seen significant growth and success. The brand’s revenue has increased from €2.2 billion in 2009 to €9.6 billion in 2019.
Kering has also made efforts to make Gucci a more sustainable brand. In 2017, Gucci announced its 10-year sustainability plan, which includes a commitment to carbon neutrality and the use of sustainable materials.
Conclusion
In conclusion, Gucci is owned by French luxury conglomerate company Kering. This ownership has had a positive impact on the brand’s growth and sustainability efforts. It will be interesting to see how Gucci continues to evolve under Kering’s ownership in the future.
10 Related Question Answers Found
Gucci is a luxury fashion brand that has been around for nearly a century. Over the years, the ownership of the company has changed hands several times. In this article, we will take a closer look at who owns Gucci currently.
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Gucci is one of the most luxurious fashion brands in the world, known for its iconic designs and high-quality products. But have you ever wondered who actually owns this prestigious brand? Let’s dive into the history of Gucci and its ownership.
Gucci, one of the most recognized luxury fashion brands worldwide, has a fascinating history that dates back to 1921. The brand’s founder, Guccio Gucci, was born in Florence, Italy, in 1881. He worked as a porter in London before returning to his home country and opening his first shop selling leather goods.
Gucci is a luxury fashion brand that has been around since 1921. The company was founded by Guccio Gucci, an Italian businessman who started his career as a hotel worker in Paris. Today, Gucci is one of the most famous and valuable luxury brands in the world, with a net worth of over $15 billion.
Gucci is one of the most iconic and well-known luxury brands in the world. Founded in Florence, Italy in 1921 by Guccio Gucci, the company has grown to become a global fashion powerhouse. But who owns Gucci today?
