Gucci, one of the most iconic luxury fashion brands in the world, has a long and storied history. Founded in Florence, Italy in 1921 by Guccio Gucci, the brand has become synonymous with high-end fashion and luxury goods.
Over the years, Gucci has changed hands multiple times, with ownership passing from the Gucci family to various conglomerates and holding companies. So, who owns Gucci now? Let’s take a closer look.
The Early Years of Gucci
Guccio Gucci started his eponymous brand as a small leather goods store in Florence. The company slowly expanded its offerings to include luggage, clothing, and accessories. In the 1950s and 1960s, Gucci became a favorite of Hollywood stars like Grace Kelly and Audrey Hepburn, solidifying its reputation as a high-end brand.
Changes in Ownership
In the 1980s, Maurizio Gucci, the grandson of Guccio Gucci, took over as head of the company. However, he was forced out by his own family members in a bitter battle for control of the brand. Maurizio sold his shares to Investcorp and an Italian investment group in 1993.
In 1999, French luxury conglomerate LVMH attempted to take over Gucci but was ultimately unsuccessful. Instead, Pinault-Printemps-Redoute (PPR) – now known as Kering – purchased a controlling stake in the company.
Kering’s Ownership
Kering currently owns 100% of Gucci after gradually acquiring more shares over time. Under Kering’s ownership, Gucci has seen significant growth and success thanks to creative director Alessandro Michele’s innovative designs and marketing strategies.
Conclusion
In conclusion, while ownership of Gucci has changed hands several times over the years, the brand is currently owned by Kering. With its rich history and continued success, Gucci remains one of the most iconic luxury fashion brands in the world today.