Gucci

Gucci – high-end fashion

Gucci is an Italian fashion house based in Florence, Italy and known for producing luxury fashion items including ready-to-wear, shoes and footwear, accessories, home decor items and under the name Gucci Beauty, men’s and women’s fragrances and cosmetics.

The company was founded in 1921 by Giacinto Dario Maria Gucci who was born to Tuscan parents Gariello Gucci and Elena Santini on the 26th March 1881.

Unfortunately there is very little information about Guccio’s early life, however we do know that in 1899 he moved to London to work as a Bellhop in the prestigious Savoy Hotel. It was here he became inspired by the wealthy hotel guests and enjoyed learning about their fashion tastes as well as the quality and fabrics. All topics that would help him when he returned to his hometown of Florence to learn the leather manufacturing trade and begin his career making travel luggage and accessories.

The House of Gucci had a humble beginning compared to the world-wide known business it would become in future years. It was a small family-owned leather shop selling saddles and leather bags. The company grew in 1938, expanding on the advice of his son, Aldo by opening a second store in Rome. Aldo and his brothers Rodolfo and Vasco would eventually join the business.

Soon it became that any item adorned with the Gucci logo was a must-have and synonymous with celebrities, film stars and heiresses.

World War II

During the war the artisans made boots for the Italian infantry. Leather was in short supply and so the handbags became made of cotton canvas which was distinguished by a double G symbol and red and green bands. Once the war was over the crest which had a shield and knight surrounded by ribbon and inscribed with the Gucci name became synonymous with Florence.

The company stores

In 1951 their Milan store was opening, Guccio really wanted to keep the business small and for many years it remained only in Italy. It was just two weeks before Guccio’s death that Aldo, Rodolfo and Vasco opened the first store outside of their home country, the New York Boutique.

Aldo became the company director and it was under his guidance that the company thrived and became known as a world-wide brand as well as an icon of the Italian Dolce Vita.

Family Feuds

In 1974 Vasco Gucci died without having children, therefore the company was split equally between Aldo and Rodolfo. Aldo gave his three sons a percentage of the company which left him with 40% and Rodolfo 50% making it a third generation family run business. Despite Rodolfo owning a higher share Aldo remained in charge and continued with success.

The trouble started when Aldo’s son, Paolo decided he wanted to start his own fashion line, when his father and uncle disagreed he went ahead and started his own line behind their backs When it was discovered, Paolo was fired from the company and all ties were cut with the family and he became the black sheep.

In an act of revenge Paolo exposed Aldo’s tax evasion to the relevant authorities which resulted in Aldo serving time for his crimes in federal prison.

Rodolfo died nn 1983 leaving his stake of the company to his son Maurizio who would go on to take control of the company alongside Paolo. In what became a pattern the cousins did not see eye to eye and Maurizio also found himself in trouble with the authorities for similar reasons as his uncle. Instead of facing a prison sentence he fled to Switzerland.

Paolo did launch his own fashion line, as he had wished, however it was extremely unsuccessful. Maurizio led the company into a negative net worth, incurred millions of dollars of personal debt and was eventually forced out of the company by Investcorp who were able to rescue the company and restore it to its former glory and during the 2010’s it became an iconic ‘geek-sheek’ brand.

In 1995 Maurizio was the victim of a Mafia hit in Milan where he sadly died. His ex-wife was found guilty of the crime and received a prison sentence of twenty nine years.

The Company Now

By 2019 the brand was operating 478 stores and had 17,157 employees. It was generating £9.628 billion sales.

The CEO Is Marco Bizzarri who has been in post since December 2014 alongside Creative Director Alessandro Michele who has been in the role since January 2015.

Website: www.gucci.com Founder: Guccio Gucci Founded: 1921 Headquarters: Florence, Italy