In 2010, Gucci is one of the top luxury fashion brands in the world. The official name of the company is “House Gucci”, as it is one of the famous Italian fashion houses. However, Gucci actually belongs to the French conglomerate Pinault-Printemps-Redoute (PPR). The founder of the brand was Guccio Gucci, who founded the brand in Florence, Italy, in 1921. This brand is best known for Italian fashion and leather goods. One thing that puts Gucci from other brands is that it’s the best-selling Italian brand in the world.
The history of the brand is interesting and stormy since its modest beginnings in 1921. Guccio Gucci in 1921, only in 1938 Gucci expanded from Florence and opened a new boutique in Rome. When Gucci died in 1953, he left his fashion empire to his 4 sons. His son Aldo was central to expanding brands to the global market, since he opened the first Gucci boutique in New York. Further expansion to Hong Kong and Tokyo occurred in the 1960s, where Gucci created his own trends through celebrities such as Jackie Kennedy, Grace Kelly, etc.
However, during this time the family was in constant combat. The reports at the time suggested that the family had succeeded in the succession in the meetings of the board of directors, in stocks and how to manage the company.
In the 1970s, the company got into a terrible rough patch and the early 1980s. At that time, the Rodolfo and Aldo brothers controlled the company in equal shares. This happened again, due to difficult family battles. The company launched a division for the production of accessories and perfumery and began to actively engage in wholesale trade in order to expand this division. Aldo developed this unit, and his intention was to focus on him in order to loosen control over his brother Rodolfo. The perfumery department was cheaper than other products, and aggressive wholesale sales made it available for sale in more than 1,000 stores. As a result, the image of the brand has faded dramatically. The public now sees Gucci as a cheap airport brand, rather than an exclusive luxury brand. In addition, at the same time, wide Gucci knockouts began to appear on the market, which further weakened the brand image.
In 1983, the company suffered financially and in the image of the brand. Paolo Gucci (son of Aldo) proposed the idea of launching a cheap version of Gucci called Gucci Plus, the idea was not well received by the family. During a meeting of the board of directors of Gucci on this issue, Paolo was beaten by an answering machine with the face of one of his brothers. For revenge, he informed his father of the United States authorities about tax evasion. His father was convicted of tax evasion and sent to prison after his son tested him in court. These stories sparked more interest in the Gucci family, then brand advertising could be achieved at that time.
Rodolfo died in 1983. This has changed in changing the power structure of the company (family). His son Maurizio Gucci inherited his 50% stake in Gucci. Son Aldo Paolo, together with the team Maurizio together took hold of control over the Board of Directors. Soon after, the rest of the family left the company. This prompted Maurizio to seek help and ideas from outside the company in order to strengthen the brand and the company and work peacefully.
Gucci Shoes has become one of the strengths of the company. Gucci found that after the disasters of the 1970s and 1980s, returning to his roots as an elite Italian fashion house was a must. They realized that it was impossible to be a mass-produced brand and a luxury brand. Leather products, such as Gucci shoes, were given the company name in the 1920s and 1930s, and they felt that they needed to focus their efforts on fashion innovations in these areas. In addition, in 1997, Gucci took Severin-Montre and renamed it as Gucci. The watchmaker was one of the most famous in Europe at that time and helped Guccis to achieve its prestige and prestige among fashionable and wealthy consumers.
