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Gucci’s transformation over the years, was shaped by the combination of a series of extraordinary events, from a family’s tragic story to becoming the favorite brand of Hollywood
Gucci’s transformation over the years, was shaped by the combination of a series of extraordinary events, from a family’s tragic story to becoming the favorite brand of Hollywood stars. Are you ready to join us in discovering what happened at Gucci’s luxurious masquerade ball?
Behind Gucci’s original and iconic designs lay secrets, family intrigue and a complex family dynamic that developed over time. Gucci’s path full of successhas not only made a mark in the world of luxury clothing, but has also become a family saga.
Gucci’s father Guccio Gucci was born in 1881 in the fascinating city of Florence, Italy. His father was a craftsman and hatter, and Guccio followed this craft tradition and was introduced to leatherworking at an early age.
However, due to the family’s economic difficulties, Guccio had to move to London when he was only 16 years old. At the Savoy Hotel errand boy While working as a consultant, he had the opportunity to research the clothing styles of wealthy clients.
Some sources say he worked as an elevator operator at the hotel and Winston Churchill and Marilyn Monroe It is said that he met famous names such as. With the outbreak of World War I, Guccio returned to his country and went to work in Milan for a company called Franzi, which produced luxury leather bags and suitcases.
This experience Guccios The knowledge he gained about leather formed the basis of his first steps towards establishing his legendary brand in the future.
GucciIn the early days of the 1990s, leather bags and suitcases were sold instead of clothing. Although it made modest progress for a while, the brand soon began to make a name for itself, thanks to the talented craftsmen recruited into the workshop. Guccio founded the brand in 1932 first loafer shoe launched it.
Gucci made a major impact on the fashion world with the horse, ship and stirrup motifs he implemented in the mid-1930s. Guccio, changing customer requirements He was a visionary who adapted quickly and pioneered continuous innovation. When he observed the transition from horse-drawn carriages to motor vehicles, he turned to the sale of luxury suitcases and bags.
In 1938, his son On Aldo’s advice It added a new chapter to the brand’s growth story by opening a new store in Rome.
As a result of this embargo, leather became a scarce resource and this put great pressure on the brand. To deal with this difficult situation Guccio Guccihad to include alternative materials such as raffia, wicker, wood, linen and jute in the composition of the products.
Also II. Gucci during World War II He produced boots for the Italian infantry. Continuing leather production after the end of the war was also a priority for Gucci.
At the suggestion of his son Aldo After opening a new store in Rome in 1938 The stores in Milan were opened in 1951 and the stores in New York in 1953. However, after the death of Guccio Gucci in 1953, the company became; He had to continue under the leadership of his sons Aldo, Vasco and Rodolfo.
The brand gradually expanded its range and added luxury accessories such as glasses, watches and jewelry. This increased his success rate. London, Palm Beach, Paris and Monaco It has become a global brand by opening stores around the world such as. Gucci released its first perfume in 1975In addition to clothing, it also opened its first store in the 1970s.
That’s all well and good, but there were disagreements within the family, especially in 1969 when Aldo’s son Giorgio himself went on the rampage. Gucci BoutiqueThe creation of Aldo and Aldo’s attempt to launch the Gucci Plus brand also had a negative impact on the company. In 1982, to reduce tension within the family. The Gucci group has merged and became Guccio Gucci SpA, a publicly traded company.
However, during this period Aldo Gucci’s tax evasion His prison sentence on the charges caused the company to fall on hard times.
Why Maurizio Gucci makes these decisions His wife, Patrizia Reggiani, had a great influence. By showing an ambitious attitude towards Gucci’s management, Patrizia caused great moral damage to the company and the family.
Unfortunately, Maurizio was not as successful as his uncle and father. In 1988, Maurizio Gucci owned almost 50% of Gucci. It sold 47.8% of its shares to a Bahraini company. This company was Investcorp, which had owned Tiffany since 1984.
But from 1991 to 1993, Gucci’s finances were still struggling. Maurizio Gucci has been widely criticized for spending large sums of money on the company’s headquarters in Florence and Milan. Investcorp was acquired from Maurizio Gucci in 1993 Guccio Gucci SpA He ended the family’s influence in the company by purchasing the remaining 50%.
His wife, Patrizia, instructed her husband to rise to the top of Gucci’s management by imposing her own views. However, when his expectations were not met, he succumbed to his anger and He hired a hitman.
Maurizio Gucci in March 1995 He was shot dead in the lobby of Gucci’s Milan office. Aldo and his son Maurizio died while in financial difficulties. Patrizia explained the situation as follows in an interview she later gave:
“There was no hatred. I didn’t hate Maurizio, I never did. The problem was that I was annoyed by him. It made me angry. Go to the butcher shop and Do you know someone who would kill people? I was asking.”
Investcorp has hired Dawn Mello as “editor” and designer for Gucci. Mello brought Bergdorf’s greatest talents to Gucci, most notably by appointing Richard Lambertson, who previously oversaw Bergdorf’s accessories, as the brand’s design director. Mello and Lambertson’s most important decision came in 1990 when a young Texan designer, It came with the hiring of Tom Ford.
Tom Ford has achieved great success by combining men’s and women’s clothing in one collection. Tom FordGucci’s designs doubled Gucci’s revenues, especially between 1995 and 1997.
Gucci’s pricing policy was revised and its advertising budget was reduced to $6 million in 1993. for $70 million in 1997 DELETED. In 1995, the company was first incorporated in the US by adjusting its stock value. IPO on the New York Stock Exchange. Investcorp subsequently sold its shares in Gucci for approximately $1.9 billion.
Between 1995 and 1999, LVMH secretly acquired shares of Gucci. Tom Ford and Domenico De Sole, they wanted to sell Gucci to get out of this situation. Pinault Printemps Redoute’s Kering Group bought 40% of Gucci at a price of $75 per share, reducing LVMH’s shares to 20.7%.
However, in 2000 Gucci Alexander McQueen His purchase of 51% of the fashion house caused problems because McQueen was also the designer of LVMH’s Givenchy.
Tom Ford and Domenico De Sole at the end of 2003 Contracts with Gucci-PPR They announced that they would not be defeated in 2004. After Ford’s departure, the designers he trained were; so John Ray, Alessandra Facchinetti and Frida Giannini took over.
Due to stagnation in turnover in 2014 Giannini and DiMarco He was fired from the company and in 2015 Marco Bizzarri became CEO of Gucci and Alessandro Michele sat in the design chair. Gucci led by Michele; It has been redesigned by focusing on elements such as colorful prints, retro style and homewear.
In early 2017, Gucci achieved record sales under Michele’s leadership and Kering achieved an 11% profit increase explained. Today Gucci; While it remains a fashion leader with colorful prints, retro style and original designs, the company’s financial success and global influence show that the brand is in a strong position.
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Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
