Fashion is a statement that people choose to share with society. It is the style quotient that is defined by comfort and craftsmanship. There are brands that aware us with a nice collection of apparels and accessories that oozes luxury and enriches our social status.
The Italian brand Gucci is a fine example of class and design artistry in the modern world. The products offered by Gucci need no introduction in the fashion industry. Gucci creates designs that cannot be outdated with time and focuses on ample amounts of creativity and innovation.
The designs of Gucci have disrupted the latest trends on social media and soared the heartbeats of the enthusiasts. With decades of experience in the fashion industry, Gucci has a lot of interesting facts to share with us. If you are loving what you see, consider subscribing to our ‘Free Newsletter’ for all the latest news on business and industry.
The parent organization of Gucci is the Kering Group and Gucci generated about €9.63 billion in 2019. Gucci stands at the rank 33 in the global list of best brands set by Interbrand. Interbrand has been rating several top brands in the world for more than two decades, since 2000.
Several models, influencers and celebrities love Gucci. The brand is one of the biggest trendsetters in the fashion industry. In 2020, Gucci was valued at about $17.63 billion and is considered as one of the most valuable brands in the world.
What is Gucci?
Guccio Gucci founded the brand ‘Gucci’ in 1921. Guccio worked as a fashion designer and was also an Italian-British businessman. The first products being launched by Gucci were premium handbags and goods made out of leather.
The design inspiration of Guccio Gucci was from equestrian sports. With the passage of time, Gucci got more popular. It was during 1953 when Gucci witnessed massive profits. In 1970, Gucci launched their clothing line and later they also introduced fragrances into their collection.
In the 1980, there arose several disagreements in Guccio Gucci’s family. The period during the 1990s marked the existence of Tom Ford, a designer, who curated the essence of the brand, Gucci. Tom’s effort in Gucci made the brand portray further advancements towards luxury.
The designs and cuts by Tom Ford dominated the fashion industry during the time. In 2004, the Kering Group acquired Gucci. Alessandro Michele was also appointed as the creative director of Gucci in 2015. Alessandro also won the International Fashion Design award in 2015.
Latest reports also suggest that Alessandro is planning to step down from the position at Gucci. Marco Bizzarri is currently the CEO of Gucci.
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Let us look at some of the interesting facts about Gucci-
- The company Gucci started in Italy. Italy is very popular for its prominent fashion industry. Interestingly, the style of Gucci was inspired by the people residing in England.
- The first products launched by Gucci were items of leather such as briefcase along with designer handbags. These products are still very popular in the market.
- The double logo of Gucci stands for ‘Guccio Gucci’.
- Before creating Gucci, Guccio Gucci worked as an elevator operator in the high class Savoy Hotel, located in London. Gucci met several celebrities like Marilyn Monroe and also Winston Churchil. He got inspired from their accessories and thought of starting his own brand.
- Benito Mussolini was the Prime Minister of Italy during the 1940s. It was difficult to get leather at that time. Thus, Gucci made products out of silk during that period.
- Gucci is loved by several celebrities. Reports indicate that a rapper named ‘2 Chainz’ said, “When I die, bury me inside the Gucci store”.
- Gucci introduced detachable leather bags that were for saddles as some of their earlier products. The Italian horsemen bought these items and it became popular.
- The horsebit logo that was launched in the 1950s is still very popular till today.
- The name of the brand first appeared in saddlebags and then it was seen on products like briefcases and also jewelry.
- Guccio Gucci managed his company Gucci until his death in 1953.
- Aldo Gucci, Vasco Gucci and Rodolfo Gucci, Guccio Gucci’s three sons, took over the company after the death of Guccio.
- Elizabeth Taylor, a popular English-American actor used the hobo bag by Gucci.
- Grace Kelly, the Princess of Monaco, requested the design of ‘flora’ on scarves. Rodolfo Gucci designed it and it became very popular.
- The double G design of Gucci was launched in 1960 in order to honor Guccio Gucci’s death and his immense contributions to the brand Gucci.
- There were several scandals that were exposed by the press in the 1980s. This scenario tainted the reputation of the brand and the company also got bankrupt.
- Tom Ford, being appointed as the creative director of Gucci in 1994, brought innumerable positive changes in the company.
- The share price of Gucci increased about 90% in just 5 years of Tom Ford’s addition to the Gucci team. Tom was also one of the largest shareholders of Gucci at one point.
- Gucci introduced one of the most expensive pairs of jeans in the world called ‘Genius Jeans’. It was priced at about $3,134 in the year 1998.
- Top designers like Alexander McQuenn and also Stella McCartney have worked for Gucci.
- In 2005, Gucci partnered with the United Nations International Children’s Emergency Fund (UNICEF), where Gucci donated a portion of their profits to UNICEF for assisting children from third world countries to get cleaner water and good education.
- After almost 60 years being founded, Gucci conducted their debut runway show that was based in Florence.
- Over the years, Gucci improved their products and innovated constantly. The flora scarf was also redesigned in around 2015 and was added to the cruise collection.
- There was a time when Gucci was finding it difficult to source leather. Then the company used materials like bamboo to create products.
- After Tom Ford left Gucci in 2004 in order to start his own brand, Frida Giannina took over as the creative director of Gucci.
- In 2015, Alessandro Michele was appointed as Gucci’s creative director. Under his leadership, the brand’s sales increased to about 12%. In all this time, Gucci formed an immense reputation for itself in the Milan fashion week.
- In 2017, Gucci organized a show at Westminster Abbey in London. Gucci was the first brand to do a fashion show at Westminster Abbey.
- Gucci created a campaign called ‘Chime for Change’, where the company funded more than 200 projects. This campaign was started with the objective to empower women and girls.
For the last two years, Gucci has had several roadblocks in sales due to the COVID-19 pandemic. Several stores have shut down and people reassessed their spending habits. In the first three months of 2020, Kering Group recorded a revenue of about $3.476 billion. In 2021, Gucci was valued at about $15.6 billion. Although the leather from Italy is handmade and has enough durability, Gucci has been maintaining the quality standards for decades. Gucci is loved by many and the brand appreciates that a lot. The products are set at a higher price and demand a specific clientele. But the company has been one of the dominant faces in the fashion industry. With innovation and market valuation, Gucci is set for more growth in the coming years.
Frequently Asked Questions-
- Who founded Gucci?
Ans– Gucci was founded by Guccio Gucci in 1921.
- What are some of the products of Gucci?
Ans– Gucci is famous for leather handbags, fragrances, apparel and many more items.
- Describe the marketing model of Gucci.
Ans– Gucci creates products that are set at a higher price. The company offers top-quality material for their items. Gucci also provides several discounts to retain the customers.
