Gucci is both the world’s first luxury fashion house and a rather complex story regarding their road to ownership over time. The Kering Group stands as an international leader of luxury goods home to such luxury brands as Gucci, headquartered in France.
History
It was a small shop launched in 1921 by Guccio Gucci in Florence, Italy. It dealt with leather products and other luggage. The style, which he acquired from the luxurious hotels at which he had worked during his stint in London, reflected high quality craftsmanship with sleek designs that were vividly appealing to the luxury market.
The family continued gaining popularity among the elites, and it went on full roll.
The company remained in the ownership of the Gucci family for a couple of decades. In 1953, Guccio passed away, and the sons started taking up the management of the company and taking it further as well. However, the fight among the family members began to mar the identity of the company, and in the 1980s, it was on the decline curve, losing some of its valuable assets in terms of identity and financial performance as well.
Corporate Restructuring
The Gucci reported huge loss in the early 1990s and, along with other issues, its financial challenges and brand dilution. Tom Ford brought…
