Gucci is a high-end, luxurious fashion house with its headquarters in Florence. Handbags, ready-to-wear, footwear, accessories, and home décor are among its product categories.
Gucci employed 17,157 people across 487 locations in 2019 and made €9.628 billion in revenue (up from €8.2 billion in 2018).
Who Owns Gucci?
Gucci is currently owned by French luxury group Kering.
Gucci’s holding company Guccio Gucci S.p.A. is a subsidiary of the French luxury group Kering. Kering aquired 40% stake in Gucci in 1999, to save Gucci from LVMH takeover.
LVMH had been discreetly buying shares of Gucci since 1995, and the company’s ownership reached almost 35% in 1999. As an emergency exit, financiers of Gucci sold 40% of the company to Kering.
Who founded Gucci?
Guccio Gucci established Gucci in Florence, Tuscany, in 1921. Under the leadership of Aldo Gucci (Guccio’s son), Gucci rose to become a household name and a symbol of the Italian Dolce Vita.
Family disputes in the 1980s led to the complete expulsion of the Gucci family from the company’s capital by 1993.
Following this disaster, the brand was resurrected with a seductive “Porno Chic” appearance. The French company Pinault Printemps Redoute, which later changed its name to Kering, bought Gucci in 1999. Gucci rose to fame as a legendary “geek-chic” brand in the 2010s.