Gucci

Bringing Italian Fashion to the World, One Handbag at a Time

If you love fashion, you are already well aware of The House of Gucci. From their popular handbags to watches, fragrances, and haute couture garments, Gucci has become a household name the world over.

Guccio Gucci was the son of a leather craftsman. He spent many years Traveling, and worked for a while in London's swank Savoy Hotel where he gained an appreciation for the finer things in life. Gucci founded the Gucci label in 1906 in Florence, originally intended as a saddle shop. His talent for creating quality leather goods became well known, and he soon branched out into luxurious leather bags and high-priced luggage.

Guccio's sons, Rodolpho, Aldo, Ugo, and Vasco, all joined their father in the company, and things were going very well for them. Two more shops were opened in Italy, one in Milan and a second store in Rome. Guccio passed away in 1953, leaving the House of Gucci to Rodolpho and his brothers.

The Gucci label continued to grow and thrive, opening more boutiques in London, Paris, New York, Palm Beach, and Tokyo. Celebrities such as Audrey Hepburn, Grace Kelly, and even Jackie Kennedy were buying the Gucci brand, and more importantly, being photographed wearing it. The GG logo was born around this time, featuring the initials of Guccio Gucci. This was the heyday period for Gucci, and interest in their clothing, accessories, and shoes were at an all time high.

With all of their success came business disagreements and family battles. In the 1980's the company was resting with Rodolpho's son, Maurizio Gucci. By 1989, 50% of the company had been sold to a group out of Bahrain, called Investcorp. Things continued to go downhill for Gucci, as they were hastily expanding their product lines to include sunglasses, fragrances, and more. This rapid expansion led to a financial downfall for the Gucci brand, and in 1993 Maurizio Gucci sold the remaining 50% of the company to Investcorp.

Investcorp renamed the label "Gucci Group", and a designer by the name of Tom Ford was promoted to the position of Creative Director. Ford's task was not an easy one; he was responsible for turning the brand around and making it profitable once again. He united the brand and made it profitable once again.

Gucci's look was sexy, frilly, and flirty. Body-hugging outfits with sheer fabrics, sexy prints, and revealing hemlines became all the rage. Handbags, belts, shoes, and men's ties were also still very popular with fashion-conscious consumers.

In 1995, Gucci Group became a publicly traded company, listed in the Amsterdam and New York stock exchanges. They issued further shares up until 1999, when a group called Pinault-Printemps-Redoute (PPR) bought up 68% of the company.

Gucci Group has continued to thrive, in part by acquisitions of other companies. As of now, they own Gucci, Yves St. Laurent, Sergio Rossi, Bergeron, Roger & Gallet, Bottega Veneta, Bedat & Co, Alexander McQueen, Stella McCartney, and Balenciaga. Shares of PPR are currently traded on the Paris stock exchange.

In 2004, Tom Ford left Gucci and was replaced by three other designers, including Alessandra Facchinetti. Facchinetti has very recently left the group as well, and has been replaced by Frida Giannini, who is now head of design for the women's line as well as accessories for both men and women. John Ray is currently the head designer for the men's line.

Although the business end of things seems shaky at times, Gucci has continued to be a strong force in the world of fashion. They own boutiques in major cities across the world, and sell their lines through department and specialty stores everywhere. Gucci has always been at the forefront of fashion, and there are no signs of that ending any time soon.

By Carrie Grosvenor