If you are a fashion enthusiast, you must be familiar with the iconic Italian luxury brand Gucci. But do you know who owns it now? Let’s take a closer look.
Gucci’s Early Days
Guccio Gucci founded Gucci in Florence, Italy, in 1921. Initially, the brand focused on producing leather goods such as handbags and luggage. However, over the years, Gucci expanded to include clothing, shoes, and accessories.
The Evolution of Ownership
In 1994, Maurizio Gucci sold his stake in the company to Investcorp. In 1999, Investcorp sold Gucci to French luxury conglomerate Kering (formerly known as PPR) for $7 billion.
Kering is home to several other luxury brands such as Balenciaga, Alexander McQueen, and Saint Laurent. Under Kering’s ownership, Gucci has undergone a significant transformation from a struggling brand to one of the most successful luxury fashion houses globally.
The Current Owner of Gucci – Kering
As mentioned earlier, Kering is the current owner of Gucci. The company is listed on Euronext Paris and operates globally with its headquarters based in Paris.
Kering doesn’t just own high-end fashion labels; it also has a commitment to sustainability and social responsibility. In 2018, Kering launched its sustainability strategy called “Crafting Tomorrow’s Luxury,” which outlines its goals for reducing environmental impact and improving social conditions throughout its supply chain.
Conclusion
In conclusion, while Maurizio Gucci may have founded the brand in 1921 and his family retained ownership for many years after that – today it is owned by French conglomerate Kering. However, this change of hands hasn’t stopped Gucci from continuing to be one of the most iconic and recognizable luxury brands in the world.