Who owns Gucci now? A quick overview of the brand's history
Gucci is one of the oldest Italian fashion companies. At first, it manufactured luxury travel accessories and equestrian gear to attract the affluent upper class in Italy. However, they currently concentrate on product lines that include handbags, ready-to-wear, footwear, accessories, and home decoration. Below is a brief history of the brand as you learn who owns Gucci now.
Source: Getty Images
The brand has been in operation for more than a century. This high-fashion brand sold various goods such as cosmetics, fragrances, ready-to-wear clothes, and footwear.
Who owns Gucci now?
Who is the owner of Gucci? The French businessman François-Henri Pinault is the current owner of the brand. He is considered to be one of the wealthiest businesspeople in the world with a net worth of $50 billion.
He has been the current CEO of Kering, formerly known as Pinault, since 2005. He is the honorary chairman and has the most significant shares in the retail group Kering.
Who runs Gucci now?
Currently, Gucci's president and executive is Marco Bizzarri. He assumed the position in January 2015. He previously worked under one of Kering's luxury brands Bottega Veneta as the CEO.
Allesandro Michele was appointed as Gucci's creative director; he had been working in the company since 2002. Allesandro had an excellent vision for the brand in that he concentrated on building it with a modern approach and received the position positively.
In November 2022, he left his role as the brand's creative director, citing different perspectives as the reason for his departure. Marco Bizzarri thanked him for his devotion to the company. He also mentioned that the in-house design team would ensure that they carry on with the work till a new creative director is named.
The following is a list of CEOs and creative designers who have led the company since its takeover from the Gucci family:
CEOs
| Year | Name |
| Since 2014 | Marco Bizzarri |
| 2008-2014 | Patrizio di Marco |
| 2004-2014 | Mark Lee |
| 1994-2004 | Domenico De Sole |
Creative designers
| Year | Name |
| Since 2015 | Alessandro Michele |
| 2006-2015 | Frida Giannini |
| 1995-2004 | Tom Ford |
| 1989-1995 | Dawn Mello |
Who owns the majority shares of Gucci?
Kering is the biggest shareholder of the brand, owning almost 99% of the shares. They focus on luxury goods and own other high-end labels such as Alexander McQueen, Yves Saint Laurent, Balenciaga, and Bottega Veneta.
How much is the Gucci brand worth?
Source: Getty Images
In 2018, the company reported more than 65% of sales were geared toward younger consumers. In the same year, Gucci reached 8 billion euros in sales, the first time in history to report such huge sales.
As of 2022, the Gucci brand is valued at approximately $18.1 billion. Its net worth has significantly improved due to the brand's recent amazing expansion.
Gucci’s origin story
Who was the founder of Gucci? The founder of the brand was Guccio Gucci, a famous Italian fashion designer born on 26 March, 1881.
He opened his first fashion store in Florence, City in Italy where he sold items such as accessories, gloves, wallets, leather goods, and wallets. He had always wanted to keep the business small. Sadly, he died on 2 January 1953. Guccio's net worth was $200 million at the time of his death.
After the death of Guccio, three of his sons, namely Aldo, Rodolfo, and Vasco, received equal shares of the business. Aldo was actively involved in the family business. As a result, the family-owned business' reputation as a global brand can be attributed to Aldo.
Source: Getty Images
What happened after the death of Gucci? There was a huge dispute in the family after his death. Maurizio, the son of Rodolfo and the grandson of the company's founder, later took over the company.
As the last member of the family to control the business, he sold about 48% of the company to Investcorp. Finally, in 1993, the remainder of the company assets were sold to Investcorp for about $170 million.
After this sale, the Gucci family ceased being owners of the company. In 2004, Kering fully acquired the brand for around $8.8 billion. The company has opened over 501 operational stores and runs globally.
What's the meaning of the Gucci logo? The logo was designed by Aldo Gucci. The two Gs in the emblem signify Guccio Gucci's initials. This logo is a great way to convey the founder's significance classically and temporarily.
Who owns Gucci now is a question that many of the brand's customers keep asking. Maybe because its ownership has changed over time, leaving them curious. Gucci is one of the world's most wealthy fashion houses. The label continues to establish itself as one of the industry's top designers and brands.
READ ALSO: What is avant-garde fashion? Brands, designers, outfit ideas
Legit.ng recently published an article about avant-garde fashion. Avant-garde is a French term that refers to individuals or works that are innovative or experimental, questioning the status quo.
It is a forward-thinking movement fueled by innovative designers and artists who dare to question the status quo and propose novel ideas. Avant-garde clothing reshapes the human body and suggests new ways of relating it to its surroundings through constant dissection and redefinition.
Source: Legit.ng
