What happened to the House of Gucci? The Rise, Fall and the Rise again. Watch the Videos to know more.
Gucci History
Gucci is an Italian high-end luxury fashion house based in Florence, Italy. Its product lines include handbags, ready-to-wear, footwear, and accessories, makeup, fragrances, and home decoration. Gucci was founded in 1921 by Guccio Gucci in Florence, Tuscany.
Under the direction of Aldo Gucci (son of Guccio), Gucci became a worldwide-known brand, an icon of the Italian Dolce Vita. Following family feuds during the 1980s, the Gucci family was entirely ousted from the capital of the company by 1993.
After this crisis, the brand was revived with a provocative ‘Porno Chic’ props. In 1999, Gucci was acquired by the French conglomerate Pinault Printemps Redoute, which later became Kering.
During the 2010s, Gucci became an iconic ‘geek-chic’ brand. In 2019, Gucci operated 487 stores for 17,157 employees, and generated €9.628 billion in sales (€8.2 billion in 2018). Marco Bizzarri is CEO of Gucci since December 2014, and Alessandro Michele creative director since January 2015. Gucci is a subsidiary of the French luxury group Kering.
The Rise and Fall of Gucci
The Gucci family claims its origins are rooted in the merchant city of Florence since around. Guccio Giovanbattista Giacinto Dario Maria Gucci (1881–1953) left Florence for Paris, and settled in London in 1897 to work at the high-end Savoy Hotel.
While working as a bellhop there, he would load/unload the luggage of the hotel’s wealthy clients, learning about their tastes in fashion, quality, fabrics, and traveling conditions. He later worked four years for a European rail company that specialised in upscale travel leisure, thus further enhancing his experience with luxurious traveling lifestyles. After World War I, he worked for the maker of fine luggage Franzi.
