Gucci is one of the world’s most iconic and recognizable fashion brands. Founded in 1921 by Guccio Gucci, who opened his first store in Florence, Italy, the company has grown to become a leader in luxury fashion. While Guccio passed away in 1953, his family has maintained ownership of the company for nearly a century and continues to control it today. This article will discuss who owns Gucci now.
What is Gucci?
Gucci is one of the most well-known and beloved luxury fashion houses in the world. It was founded in Florence, Italy, by Guccio Gucci in 1921. At the time, Gucci specialized in leather goods and accessories that combined traditional Italian craftsmanship with contemporary design. Over the following decades, it established itself as a leader within luxury fashion with its iconic designs and quality materials.
Change of ownership over the years
After the death of Guccio Gucci in 1953, his four sons took over ownership of the fashion house and continued to expand it globally. In 1983, the Gucci family sold a majority stake in the company to Investcorp S.A., an investment firm based in Bahrain. This sparked a period of rapid expansion and diversification as the company moved into new markets and opened more stores around the world.
Ownership from 1993 to 2004
Investcorp’s ownership of Gucci
Investcorp’s ownership of Gucci lasted from 1983 to 1993. During this time, the company experienced a period of rapid expansion as more stores opened around the world and the brand spread its influence in the fashion industry. In 1993, Investcorp sold its remaining stake in Gucci and it was taken over by Maurizio Gucci, one of Guccio’ s grandsons.
Frida Giannini’s appointment as creative director
In 2006, Frida Giannini was appointed as Gucci’s new creative director. Giannini had previously worked for the likes of Fendi and Valentino, before joining Gucci in 2002 as the brand’s head accessories designer. As creative director, she was tasked with reviving the brand’s luxurious designs and quality materials. During her tenure, Giannini was credited with revitalizing the Gucci brand and making it one of the most popular luxury fashion houses in the world.
Famous Tom Ford era
In 1994, Gucci was taken over by the famous American designer Tom Ford. Under his leadership, the company experienced a period of rapid growth and success as Ford modernized and revitalized Gucci’s image through innovative designs and marketing campaigns. His tenure at the company saw the introduction of iconic products such as sunglasses, handbags and ready-to -wear clothing lines, which helped to make Gucci a household name.
Economic growth of Gucci under Investcorp
Investcorp’s ownership of Gucci from 1983 to 1993 saw the company experience a period of rapid economic growth. During this time, the brand opened stores in major cities around the world, including New York, London and Tokyo. This expansion allowed for increased accessibility and visibility of Gucci products, leading to greater customer engagement and an increase in sales. In addition, Investcorp made strategic investments in infrastructure and technology, which allowed the company to remain competitive in a rapidly changing industry.
Ownership from 2004 to 2019
Acquisition of Gucci by Kering group
In 2004, the Gucci Group was acquired by the Kering Group, a multinational holding company based in France. Kering is one of the world’s leading luxury goods companies, owning several iconic fashion brands such as Alexander McQueen, Balenciaga and Yves Saint Laurent. Following the acquisition, Kering invested heavily in Gucci to ensure its continued success. This included the opening of new stores and launching new collections, as well as making strategic investments in technology and digital marketing.
Kering’s other luxury brands
Kering’s other luxury brands include Alexander McQueen, Balenciaga and Yves Saint Laurent. All of these brands are renowned for their high-quality craftsmanship, iconic designs and luxurious materials. Alexander McQueen is one of the most famous fashion houses in the world, known for its avant-garde silhouettes and bold statement pieces. Balenciaga is known for its innovative and modern designs, as well as its timeless classics. Finally, Yves Saint Laurent is renowned for its luxury ready-to-wear clothing and accessories.
Alessandro Michele’s creative direction
In 2015, Alessandro Michele was appointed as Gucci’s new creative director. He has since become one of the most influential figures in fashion and has been credited with transforming the brand into a modern powerhouse. His designs have introduced a sense of playfulness, combining traditional silhouettes with bold colors and patterns. Additionally, he often blends elements of vintage and contemporary styles, making Gucci products accessible to a broader audience.
Growth of Gucci under Kering’s guidance
Under Kering’s guidance, Gucci has experienced incredible growth since the acquisition in 2004. Kering invested heavily in the brand, allowing for increased accessibility and visibility of their products with new stores opening around the world and launching innovative collections. They also made strategic investments in technology and digital marketing to remain competitive in a rapidly changing industry. Additionally, they brought Alessandro Michele on board as creative director, who has been credited with transforming the brand into a modern powerhouse. As a result of these efforts, Gucci has become one of the world’s most recognizable luxury brands.
Gucci’s Recent Ownership in 2019
Acquired by Capri Holdings Limited
In 2019, Gucci was acquired by Capri Holdings Limited. Previously known as Michael Kors Holdings, the company is a luxury fashion conglomerate owned and led by John Idol. With this acquisition, Gucci became part of a collection of iconic brands that also include Michael Kors and Versace. Under the new ownership, the brand has seen increased investments in technology to ensure their continued success in a rapidly changing industry.
Capri Holdings’ history in the fashion industry
Capri Holdings is a luxury fashion conglomerate owned and led by John Idol. The company was formerly known as Michael Kors Holdings and owns iconic brands such as Gucci, Michael Kors and Versace. Capri’s history in the fashion industry dates back to 1981 when the company launched its namesake label, Michael Kors. Since then, the brand has grown significantly and now boasts a presence in over 95 countries. In 2019, the company acquired Gucci, adding the iconic fashion house to its portfolio of luxury brands.
Future of Gucci under Capri Holdings
Under the new ownership of Capri Holdings, Gucci has seen increased investments in technology to ensure their continued success in a rapidly changing industry. As part of a larger conglomerate, the brand has access to more resources and expertise that can be used to further develop their products and services. Additionally, they will benefit from the experience and knowledge of the other iconic brands in the group, such as Michael Kors and Versace. With this support, Gucci is well-positioned for future growth and success.
Conclusion
Since its inception, Gucci has experienced a number of changes in ownership. In 2004, the brand was acquired by Kering, an international luxury goods holding company. Under their guidance, the brand experienced significant growth and transformation with increased investments in technology and digital marketing as well as the appointment of Alessandro Michele as creative director. In 2019, Gucci was acquired by Capri Holdings Limited, a luxury fashion conglomerate owned and led by John Idol. With this acquisition, the brand became part of a larger portfolio that includes other iconic brands such as Michael Kors and Versace. Going forward, Gucci will benefit from increased investments in technology as well as the expertise of its new owners.
