Who Owns Gucci? Ceo, History And More

Gucci, the renowned Italian fashion brand, is owned by the French holding company Kering. Kering acquired a significant stake in Gucci in 2004, making it a part of its luxury brand portfolio. Kering’s leading shareholder is Artémis, an investment firm headed by François Pinault and his family. Artémis holds a majority share in Kering, which in turn owns Gucci.

Over the years, Gucci has evolved from its origins in producing luxury travel accessories and equestrian gear to becoming a global icon in the fashion industry. Today, Gucci is known for its diverse range of products, including handbags, ready-to-wear clothing, footwear, accessories, and even home décor items. The brand’s distinctive style and innovative designs have contributed to its immense popularity and recognition on a global scale.

As part of the Kering Group, Gucci has enjoyed significant success and financial growth. In 2022, Gucci generated impressive revenue of over €10.5 billion, contributing significantly to Kering’s overall revenue, which amounted to €20 billion in the same year. This success underscores Gucci’s position as one of the world’s leading luxury brands, symbolizing style, luxury, and craftsmanship.

Gucci History

Gucci’s origins can be traced back to 1921 when Guccio Gucci, the founder, established a small leather shop in Florence, Italy. Known for his dedication to quality craftsmanship, Guccio initially focused on creating handcrafted luggage and luxury items for the elite. His vision was carried forward by his son, Aldo Gucci, who expanded the brand’s operations and opened its first store in New York City shortly before his father’s passing.

Gucci’s reputation reached new heights in 1953 when Jacqueline Kennedy Onassis was spotted carrying a Gucci bag at her husband’s presidential inauguration, leading to the bag being renamed the “Jackie” and cementing its iconic status. This event marked the beginning of Gucci’s recognition not only in Europe but also in the United States.

The 1960s saw further successes for the brand, including the creation of the signature “Flora” print scarf designed for Princess Grace of Monaco. Gucci continued to expand its influence with the launch of its fragrance line in 1975 and the establishment of stores across Europe and Japan.

However, in the 1980s, ownership of the company shifted, with Investcorp acquiring the Gucci family’s shares. The brand faced challenges during this period until the appointment of Tom Ford as creative director in the mid-1990s. Ford’s innovative approach led to a remarkable revival, increasing sales from $206 million in 1995 to an impressive $624 million in 2000.

Gucci’s ownership underwent further changes when the Kering Group, formerly known as Pinault-Printemps-Redoute, acquired a significant stake in the company in 1999. Kering’s ownership stake in Gucci grew over the years, reaching 99.4% in 2004.

Under Kering’s guidance, Gucci’s fortunes soared, and its annual revenues exceeded €10.5 billion in 2022. The brand’s diverse range of designer apparel, accessories, and ready-to-wear collections, along with its iconic interlocking “G” logo, have contributed to its ongoing success. Kering Group has since expanded to include other luxury brands such as Bottega Veneta, Balenciaga, and Saint Laurent.

As of December 2022, Gucci maintains a global presence with 528 stores worldwide, solidifying its position as one of the most renowned and recognizable luxury brands in the world.

Ownership of Gucci

The ownership structure of Gucci has undergone several significant shifts since its inception. After the passing of founder Guccio Gucci in 1953, his sons Aldo, Rodolfo, and Vasco inherited shares in the company. However, Vasco’s and Rodolfo’s deaths in 1974 and 1983 respectively left only Aldo and Rodolfo’s son, Maurizio, as shareholders.

In the 1980s, a struggle for majority ownership emerged, culminating in Maurizio gaining control of the company after Rodolfo’s legal troubles. During a period of financial challenges, Maurizio sold around 48% of his stake to Investcorp, a Bahrain-based investment firm, in 1988. Another sale to Investcorp occurred in 1993, amounting to approximately $200 million.

In the 1990s, new developments in the ownership landscape took place. Prada acquired a 9.5% stake, while Bernard Arnault’s luxury conglomerate LVMH acquired 34%. Prada later sold its stake, and French financier François Pinault’s multinational corporation, Pinault Printemps Redoute, acquired 42% of Gucci. The ensuing legal battles between LVMH and Pinault’s group revolved around control of the company.

Ultimately, Kering, formerly known as Pinault Printemps Redoute, emerged as the dominant force. In 2004, Kering solidified its ownership by purchasing all remaining shares for $8.8 billion. This acquisition made Kering the official majority owner of Gucci, marking a pivotal moment in the brand’s ownership history.

Is Gucci still owned by the Gucci family?

No, the Gucci family no longer owns Gucci. The family’s ownership of the company ended when Maurizio Gucci sold his stake to Investcorp in 1993. Currently, Kering, which owns 99% of the company, is the owner and operator of Gucci.

How much is Gucci brand worth in 2023?

In terms of brand value, Gucci has experienced remarkable growth. In 2018, the brand achieved record sales of 8 billion euros. By 2020, Gucci was estimated to be worth around $11.36 billion (€10.78 billion). As of 2022, the brand’s estimated worth had further increased to an impressive $18.1 billion. This growth can be attributed to its popularity among millennials and Gen Z, its presence in luxury and streetwear cultures, and collaborations with well-known celebrities.

Who is the owner of Gucci right now?

The current president and CEO of Gucci is Marco Bizzarri, who assumed the position in January 2015. Prior to joining Gucci, he served as the CEO of Bottega Veneta and led Kering’s luxury couture and leather goods division. He succeeded Patrizio Di Marco, who stepped down after a period of declining sales for the company.

Under Bizzarri’s leadership, Alessandro Michele was promoted as the creative director of Gucci. Michele’s innovative and bold designs helped rejuvenate the brand’s image and solidified its position in the luxury fashion industry. However, a reported conflict of ideas between Bizzarri and Michele led to the end of their collaboration.

Conclusion

Since its establishment in Florence in 1921, the Gucci brand has undergone a remarkable transformation. Originally focused on crafting high-end travel accessories and equestrian gear, Gucci has evolved into a powerhouse of luxury fashion, earning widespread acclaim and global renown. Its products, ranging from ready-to-wear apparel to exquisite handbags and even home décor items, now reach customers across the globe. As a subsidiary of Kering, Gucci stands as an emblematic fashion house that transcends the boundaries of Italy, leaving an indelible mark on the world of style. With a legacy of excellence and innovation, Gucci’s influence is destined to extend far into the future, ensuring its enduring presence and continued impact on the fashion industry.

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