Gucci (pronounced Guch-ie ), is a Florentine fashion and leather goods label, part of the Gucci Group, which is owned by French company Pinault-Printemps-Redoute (PPR). Gucci was founded by Guccio Gucci (1869 – 1953) in Florence in 1921.
Founded in Florence in 1921, Gucci is one of the world's leading luxury fashion brands. With a renowned reputation for quality and Italian craftsmanship, Gucci designs, manufactures and distributes highly desirable products such as leather goods (handbags, small leather goods, and luggage), shoes, ready-to-wear, silks, timepieces and fine jewellery. Eyewear and fragrances are manufactured and distributed under license by global industry leaders in these two sectors. Gucci products are sold exclusively through a network of directly operated boutiques (278 at September 2009) and a small number of selected department and specialty stores.
Gucci generated circa €2.2 billion worldwide of revenue in 2008 according to BusinessWeek magazine and climbed to 41st position in the magazine's annual 2009 "Top Global 100 Brands" chart created by Interbrand. Gucci is also the biggest-selling Italian brand in the world. Gucci operates about 278 directly operated stores worldwide (at September 2009) and it wholesales its products through franchisees and upscale department stores.
FROM GUCCIO TO GUCCI
1920s
Guccio Gucci opens a leather goods workshop and small luggage store in his native Florence. Having spent years working in London’s Savoy Hotel, he had absorbed the refined aesthetic of English nobility, and introduces this sensibility in Italy through exclusive leather goods created and produced by the master craftsmanship of Tuscan artisans.
1930sWithin a few years time, the label enjoys such success as it attracts a sophisticated international clientele, who seek out the equestrian-inspired collection of bags, trunks, gloves, shoes and belts. The horsebit and stirrup motifs were born of this world and become enduring symbols of the fashion house, and of an increasingly innovative design aesthetic.
1940sFaced with a shortage of standard materials during the difficult years of Fascist dictatorship in Italy, Gucci establishes itself as an enterprise synonymous with exceptional creativity and resourcefulness. The “Bamboo Bag” is introduced, becoming one of the first of Gucci’s many iconic products. A favourite of royalty and celebrity alike, the bag is still available today.
1950sDuring the 1950s, the trademark green - red - green web, which is derived from the saddle girth, becomes a great success and remains one of the most familiar identifiers of the brand. With stores opening in Milan, New York, London, Palm Beach, Paris and Beverly Hills, Gucci starts to build a global presence as a symbol of modern luxury. Guccio Gucci dies in 1953. His sons Aldo, Vasco, Ugo and Rodolfo take over the business.
1960sGucci introduces products that are cherished by the most iconic figures of the time and become renowned for timeless design. Jackie Kennedy carries the Gucci shoulder bag, which is known today as the “Jackie O”. Liz Taylor, Peter Sellers and Samuel Beckett wear the unstructured, unisex “Hobo Bag”. The classic moccasin with horsebit hardware becomes part of the permanent collection at the Costume Institute, Metropolitan Museum of Art in New York. The Flora silk print scarf is created by the renowned painter Vittorio Accornero expecially for Grace Kelly. At the end of the 60s, Gucci adopts the legendary interlocking double “G” logo.
1970sGucci continues its global expansion, true to the original aspirations of Aldo, now targeting the Far East. Stores open in Hong Kong and Tokyo. The company increases and diversifies production, carrying out significant research on new more luxurious materials and innovative approaches to design never tabling the legendary quality and craftsmanship synonymous with the brand. A new factory in Casellina, near Florence, is opened. This still represent today’s heart of Gucci’s research, development and production activities. The great classics are revamped in new shapes and colours, and new product categories are introduced. Gucci took an interest in developing watches in the early 1970’s, becoming soon after one of the world’s largest manufacturers and distributors of watches.
1980sIn 1982, Gucci becomes a public limited company, and leadership is passed to Rodolfo’s son, Maurizio Gucci, who holds 50 percent of the shares. Investcorp, a Bahrain-based investment company, purchases the remaining 50 percent belonging to Aldo Gucci and his descendants in the late 80s.
1990sGucci is relaunched to global renown through a groundbreaking mix of tradition and innovation. Tom Ford becomes creative director of Gucci in 1994 and infuses the luxury brand with a sense of daring and provocation that resonates with celebrity and accomplished elite. The stiletto, and silk cut-out jersey dresses with metallic hardware details become icons of Ford’s unique vision. Domenico De Sole is appointed CEO in 1995, and Gucci makes the highly successful transformation to a fully public company. Gucci is named “European Company of the year 1998” by the European Business Press Federation for its economic and financial performance, strategic vision and management quality. In 1999, Gucci enters into a strategic alliance with PPR-Pinault-Printemps-Redoute and transforms itself from a single brand company into a multibrand group.
2000sGucci achieves astounding global success and is named the most desirable luxury brand in the world. Frida Giannini, formerly Creative Director of accessories, is named sole Creative Director in 2006. Exploring Gucci’s rich heritage and its incomparable craftsmanship capabilities, Giannini creates a unique vision for Gucci that fuses past and present; history and modernity. Key house icons are reinvented in a fresh new guise, including Flora, La Pelle Guccissima, the New Jackie, and the New Bamboo. The company’s partnership with UNICEF, first started in 2005, gains traction each year, becoming a major corporate initiative that dovetails seamlessly with the Italian brand’s global reach. In 2009, Patrizio di Marco replaces Mark Lee as CEO of Gucci. Patrizio di Marco has an extensive knowledge of the global luxury market, having worked in several continents including Europe, US and Japan with important industry players. Under his direction the storied Italian brand's exclusive heritage and long-lasting values are emphasized in conjunction with its high fashion and aspirational style. Gucci continues its vibrancy and leadership on the global luxury stage. According to a 2007 study conducted by Nielsen, Gucci is considered the most desired luxury brand in the world. It has further once again been ranked as the most valuable brand in the world in any industry – with a raise of 5 positions, reaching the number 41th – as well as the highest ranked of all Italian brands, according to Interbrand 100 Best Global Brands 2009 Study.
History
Gucci was founded in 1921 by Guccio Gucci. In 1938, Gucci expanded and a boutique was opened in Rome. Guccio was responsible for designing many of the company's products. In 1947, Gucci introduced the bamboo handle handbag, which is still a company mainstay. During the 1950s, Gucci also developed the trademark striped webbing, which was derived from the saddle girth, and the suede moccasin with a metal horsebit. His wife Aida Calvelli had a large family, though only the sons—Vasco, Aldo, Ugo, and Rodolfo—would play a role in leading the company. After Guccio's death in 1953, Aldo helped lead the company to a position of International prominence, opening the company’s first boutique in New York. Rodolfo initially tried to start an acting career as a matinee idol but soon returned to help direct the company. Even in Gucci’s fledgling years, the family was notorious for its ferocious infighting. Disputes regarding inheritances, stock holdings, and day-to-day operations of the stores often divided the family and led to alliances. Gucci expanded overseas, board meetings about the company’s future often ended with tempers flaring and luggage and purses flying. Gucci targeted the Far East for further expansion in the late 1960s, opening stores in Hong Kong and Tokyo. At that time, the company also developed its famous GG logo (Guccio Gucci's initials), the Flora silk scarf (worn prominently by Hollywood actress Grace Kelly), and the Jackie O shoulder bag, made famous by Jackie Kennedy, the wife of U.S. President John F. Kennedy. Gucci remained one of the premier luxury goods establishments in the world until the late 1970s, when a series of disastrous business decisions and family quarrels brought the company to the verge of bankruptcy. At the time, brothers Aldo and Rodolfo controlled equal 50% shares of the company, though Rodolfo contributed less to the company than Aldo and his sons did. In 1979, Aldo developed the Gucci Accessories Collection, or GAC, intended to bolster the sales for the Gucci Parfumes sector, which his sons controlled. GAC consisted of small accessories, such as cosmetic bags, lighters, and pens, which were priced at considerably lower points than the other items in the company’s accessories catalogue. Aldo relegated control of Parfums to his son Roberto in an effort to weaken Rodolfo’s control of the overall operations of the company. Though the Gucci Accessories Colle
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