Gucci is one of the top brands in the world. It is an Italian brand. They are popular for their designs in the fashion industry. Most of their designs are both timeless and innovative. They created so many social media trends through making revolutionary designs. This brand can turn the fashion industry upside down. There are so many unknown facts about Gucci.
Gucci brand is currently owned by Kering Group. It is a French luxury group. In 2019, the brand generated annual revenue of €9.63 billion. Gucci has 33th rank in the list of best global brands in 2019 prepared by Interbrand. They have ranked among in the list of top valuable brands prepared in each and every year since 2000.
Gucci is the favorite brand of many models, bloggers, and fashion influencers. The trends and their revolutionary designs attract the fashion enthusiasts. Also they considered as one of the most valuable brands in the world. It has a brand value of approximately $17.63 billion in 2020.
History of the brand
In 1921, Guccio Gucci founded the brand. He was a fashion designer and an Italian-British businessman. Their first products were luxurious handbags and leather goods. Guccio Gucci's designs were inspired by equestrian sports. After 1953, the brand got popularity. They didn't introduce a clothing line until 1970. After that, they released fragrances.
The brand faced a setback due to disagreements within the Guccio Gucci's family in 1980s. In 1990s, the creations of a designer named Tom Ford have shaped the character of the brand. Gucci became a coveted luxury brand under his creativity. His dandy style designing and daring cuts conquered the fashion industry. Gucci brand is the part of the Kering group since 2004.
In 2015, Alessandro Michele appointed as creative director of Gucci brand. The brand's image changed through him. His designs were shriller and androgynous. Eccentric patterns and intense colors became part of their new collections. In 2015, Alessandro won the International Fashion Designer of the Year award. The current CEO of the brand is Marco Bizzari. Now Gucci has unique brand identity.
Facts about Gucci
Some interesting and unknown facts about this brand are given below.
- Gucci started his company in Italy, a country popular for its fashion. But that style was inspired by people living in England.
- The first products manufactured by the company were leather luggage items such as briefcases and handbags. They are still some of the most popular items of the brand.
- The popular double G logo refers to Guccio Gucci.
- Gucci was an elevator operator in swanky Savoy Hotel situated in London. At that time, he met celebrities such as Marilyn Monroe and Winston Churchill. He inspired by their accessories and decided to start his own brand.
- In 1940’s, Benito Mussolini was the prime minister of Italy. At that time, it was difficult to acquire leather. So Gucci used silk to make products.
- Many of the celebrities are fans of Gucci brand. Once, the famous American rapper named "2 Chainz" said, ‘When I die, bury me inside the Gucci store.’
- The first items manufactured by Gucci include detachable leather bags for saddles. The keen horsemen from Italy bought that item.
- The horsebit logo was first seen in the 1950’s. It is still a key part of the brand.
- The brand name firstly appeared on saddle bags before he started to use in other products such as briefcases and jewelry.
- The brand was managed by Guccio Gucci until he dies in 1953.
- His 3 sons named Aldo Gucci, Vasco Gucci, and Rodolfo Gucci took over the business after the death of Guccio Gucci. They promoted the products of the brand through Hollywood celebrities.
- The famous English-American actress named Elizabeth Taylor had used the Gucci hobo bag.
- Princess of Monaco named Grace Kelly made a special request to print "Flora" on scarves. That was the print first appeared on scarves. One of Guccio's sons named Rudolph Gucci designed that Scarf.
- The GG logo was designed in 1960. It was created to honor Guccio Gucci after his death.
- In the 1980s, scandalous stories about the Gucci family appeared in the press. Because of this, Gucci went bankrupt.
- In 1994, Tom Ford was appointed as Creative Director of the Gucci brand in an effort to make some qualitative changes.
- The sales were increased by 90% within 5 years after the appointment of Tom Ford. He was the largest shareholder of the company at one point.
- The company has launched a new product named "Genius Jeans". It broke the Guinness World Record for the most expensive pair of jeans in the world. The jeans had a value of $ 3,134 in 1998.
- Many top designers work with Gucci, including Stella McCartney and Alexander McQueen.
- The company made a partnership with UNICEF in 2005. They decided to donate a percentage of all profits to the organization, for helping children to get clean water and better education in 3rd-world countries.
- The bamboo shopper is one of the items of Gucci. Once, the company faced problems with availability of leather. So designers used other materials such as bamboo to make products.
- The company conducted their first runway show in Florence, 60 years after founding the company.
- They improved and redesigned so many items. Flora scarf is an example. In 2015, they reinvented Flora scarf for the Cruise Collection.
- In 2004, Tom Ford left the company to start his own brand. Then in 2006 Frida Giannini was appointed as Creative Director of the company.
- Alessandro Michele appointed as the Creative Director of the company in 2015. After that, the sales increased by 12%. Also, Gucci has gained more prominence at world-class events such as Milan Fashion Week.
- The Gucci brand hosted a fashion show at Westminster Abbey, London in 2017. Gucci became the first brand that hosted a fashion show at Westminster Abbey.
- Gucci founded a global campaign named Chime for Change. They have successfully funded over 200 projects. The aim of Chime of Change project is to empower women and young girls.
Current situation in the market
The Covid-19 pandemic heavily impacted the operations of the company in 2020. According to first quarter report of Kering, Gucci faced a setback due to widespread store closures and decreased consumer spending across the globe. The company got a good start in January, before the Covid-19 started to spread. Kering group has revenue of $3.476 billion in the 1st three months of 2020.
It was 16.4% less than compared to the same quarter in the last year. Italian leather is handmade, expensive and durable. The Gucci brand has upheld this model for decades. They make products in highest quality. Also, the reputation of their products is solid.