Gucci was established in Florence, Tuscany, in 1921 by Guccio Gucci. Gucci has become a global brand and a symbol of Italian Dolce Vita, under the leadership of Aldo Gucci (Guccio’s son). The Gucci family was forced to leave the company’s headquarters in 1993 after a series of family feuds in the 1980s.
How Much is Gucci Worth?
- Founded: 2 July 1962
- Founder: Guccio Gucci
- Industry: Fashion
- Net Worth: $23 Billion
- CEO: Marco Bizzarri
How it Started
Guccio Gucci opened his own store, Azienda Individuale Guccio Gucci, on 7, Via della Vigna Nuova in Florence, in 1921, selling imported leather luggage. He also created a small workshop where local craftsmen could make their own leather products. To accommodate Gucci’s 60 craftspeople, a larger workshop was eventually needed.
Guccio Gucci’s stakes in the company were divided among his three sons after the war (Aldo, Vasco, Rodolfo). The Gucci Bamboo bag was first introduced in 1947. “Quality is remembered long after price is forgotten”, is the brand’s first global tagline. In 1952, Gucci introduced its distinctive moccasins (loafers). On January 2, 1953, Guccio Gucci passed away in Milan. Gucci’s first US store debuted on Fifth Avenue and 58th Street in New York in November 1953.
How it is Going
Gucci opened the Gucci Hub, its new Milan headquarters, in September 2016, in the old Caproni aircraft facility. Gucci announced the launch of Gucci Décor in July 2017, marking the brand’s first foray into the home décor market. Gucci opened the ArtLab, a 37,000-square-meter innovation centre outside of Florence, Italy, in April 2018.
The ArtLab is where innovative leather items, footwear, new materials, metal hardware, and packaging are produced and tested. Gucci established the Gucci Wooster Bookstore in New York in November 2018, a 2,000-book store curated by David Strettell, proprietor of Dashwood Books.
Gucci 9, a 500-employee network of 6 contact centres worldwide for high-end customer support, was established in April 2019. Gucci also reintroduced its beauty line and debuted its first fine jewellery line.
Gucci’s sales totalled 9.6 billion euros in 2019. Gucci established two stores (fashion and beauty) on Tmall in December 2020, following an agreement between Kering and Alibaba.
Who Owns Gucci?
Kering SA is a luxury conglomerate with headquarters in Paris, France. Saint Laurent, Gucci, Bottega Veneta, Alexander McQueen, Balenciaga, Boucheron, Brioni, Pomellato, Qeelin, and Ulysse Nardin, among others, are among the fashion houses it owns. The company makes and sells leather goods, garments, accessories, footwear, watches, and jewellery for men, women, and children, primarily through managed retail stores. The company operates all around the world.
Gucci Net Worth, Earnings and Revenue
Guссi has been the top brand seller for a long time now, and Guссi’s sales rose by up to 42% in 2018 compared to 33% in 2017. The company’s leather goods are the most popular fashion item, accounting for 57 per cent of total revenue.
As of 2022, Guссi has an estimated net worth of more than $23 billion. The company’s revenue has been steadily increasing, and it was estimated to be over $267 million euros in 2018, up from $214.28 million euros in 2017.
Kering, which currently owns Gucci has a market capitalization of $79.841 billion, with Gucci taking the second spot in the most valued brands, with a brand valuation of $23 billion.