In the quickly moving world of fashion, famous brands like Gucci often have changes in who owns them. This shows that different things are happening constantly inside their industry too. When we move into 2024, let’s get a better look at who owns Gucci now. Also, see how this change in ownership has affected the brand and where it is going.
Gucci’s Storied History
Before we dive into the present, it’s important to understand Gucci’s long history. Started in 1921 by Guccio Gucci in Florence, Italy, the company soon became known for its great work and designs that last forever. In many years, Gucci changed into a big fashion boss all over the world. Now it’s like high class and smart style joined together in its famous name.
In the first part of this century, Gucci had a number of changes in ownership that greatly affected its course. In 1999, a big French company called LVMH tried to buy Gucci forcibly. But in the end, they were stopped because another group linked with Pinault-Printemps-Redoute (now Kering) and Gucci teamed up together as allies. This teamwork started a new story for Gucci, putting it under the protection of the Kering group.
Gucci War: How Gucci Family Lost Ownership of The Company?
The big boss battles in Gucci were at their height around the 1990s. First, they happened within the family itself which led to Aldo getting kicked out and then sadly finishing off Maurizio’s life too.
With family fights and people trying to take over, Prada’s boss Patrizio Bertelli bought a big share in Gucci. But he faced arguments from the new leaders of Gucci who are Domenico De Sole and Tom Ford. Bernard Arnault’s LVMH also joined the competition, wanting to take over control of Gucci. However, a clever plan by French billionaire François-Henri Pinault convinced De Sole and Ford to ally with his group PPR (later Kering), stopping LVMH’s goals. This started the strong competition between LVMH and Kering, with Gucci being very important in bringing together companies for luxury clothing. This changed how fancy fashion is today going into the next century from this event that began recently. In 2001, both sides agreed and created PPR (later called Kering). This also confirmed that Kering owned Gucci. In 2023, Kering is the only owner of the famous Gucci brand.
The Renaissance of Gucci Under Kering Era: Exciting Changes and Imaginative Successes in the New Time.
Kering is a high-end goods company from France. Founded by François Pinault in 1963, it created many different designer items for people who like luxury things to use and wear every day or special moments too! The business, which first focused on buying and selling wood, got bigger by buying other businesses. It began trading stocks on the Paris Stock Exchange way back in 1988. After two years, Kering joined a French company that was interested in furniture shops and department stores along with bookstores.
Gucci did well for more than 20 years under Kering’s control. Alessandro Michele, the person in charge of creativity was guiding and leading them. Under Kering’s ownership, the company has grown. It now makes over €10.5 billion (in 2022) every year due to its big selection of clothes for men and women created by famous designers from around the world like sweaters, sunglasses, or ready-to-wear collections shown on fashion shows everywhere each season.
Michele, the brand’s current creative director brought a new way to see things. That made the brand feel alive and able to connect with young people who are interested in fashion today. Gucci, under his command, became one of the most discussed luxury fashion brands. His brave creations and way of using colour for Gucci handbags made it easier for Gucci to get a spot on the world stage again.
Alessandro Michele’s Journey to Gucci’s Creative Directorship: A Quick Rise from Temporary Designer to Visionary Leader.
Alessandro Michele’s trip with Gucci started when he became a temporary creator for the menswear show in January 2015. This happened after Frida Giannini left the company. Michele had only one week to get ready, but he still did a great job. This led quickly to his appointment as the creative person in charge of Gucci just two days after the show ended on time efforts even with a short deadline were a hard task for him. Tim Blanks from Vogue called it the “new Gucci.” Michele’s influence changed how people saw the brand, making it a place for different looks and ideas that were both romantic and intellectual. Tom Ford’s ‘sexier Gucci time was left behind by Michele. His rule included a boyish, lots of excessive decoration style and an old-fashioned touch in every collection he made. Gucci’s catwalk outfits became connected with mysterious events under his art direction. He mixed design ideas from different times, like wide pants from the 70s and sunglasses fashion in the 80s together. Michele brought back Gucci’s Beauty line in 2019 and created the first-ever fine jewellery collection for the brand. This marked a time of change and creativity at this famous fashion company.
Conclusion: Who Owns Gucci Now
Knowing that Gucci has changed hands with many owners before. We found out that changes can happen fast in the fashion world. Right now some Rumours talk about another change in who owns Gucci and something happening soon in 2024. This has everyone wondering what’s going to happen next for the brand name.
Currently, Gucci belongs to the Kering Group. Marco Bizzarri is the CEO and Alessandro Michele holds Creative Director’s position there. They have introduced some fun new ideas that created a massive fan base of brand around the world. In 2022, Gucci had over 500 stores across the world and earned lots of money by selling clothes, jewellery, and perfumes. They have everything from shoes to tops, pants, and also fancy bags that are very popular. People go wild for them. Gucci is famous for its high-end Double G logo and Horsebit feel, which are the now considered main signs of wealth. It has been a major part of the fancy clothes business for many years and affects lots of places around the world.