Gucci, the iconic Italian luxury fashion brand, has a rich history dating back to its founding in 1921 by Guccio Gucci. Over the years, the brand has gone through various ownership changes and transformations, solidifying its position as a symbol of luxury, sophistication, and style. In recent years, Gucci has once again become an exclusive brand for the rich and affluent people, experiencing a remarkable turnaround that has captivated the fashion world. In this article, we will delve into the current ownership of Gucci in 2021, explore the brands owned by Gucci, discuss the current owner of Gucci, examine who bought out Gucci, investigate what happened to Gucci's previous owner, and answer the question of whether Gucci is still family-owned. Additionally, we will touch on the relationship between Gucci and Balenciaga, and ultimately reveal who owns Gucci today.
Who is Gucci Owned By?
As of 2021, Gucci is owned by the French luxury conglomerate Kering. Kering, formerly known as PPR (Pinault-Printemps-Redoute), acquired Gucci Group in 1999 after a highly publicized battle with LVMH (Louis Vuitton Moët Hennessy) for control of the brand. The acquisition marked a significant turning point for Gucci, as Kering's resources and strategic vision helped propel the brand to new heights of success and profitability.
Brands Owned by Gucci
Under the umbrella of Kering, Gucci is part of a prestigious portfolio of luxury fashion and lifestyle brands. Some of the other notable brands owned by Kering include Saint Laurent, Balenciaga, Bottega Veneta, Alexander McQueen, and Brioni. Each of these brands brings its own unique identity and design aesthetic to the table, contributing to Kering's status as one of the leading luxury conglomerates in the world.
Current Owner of Gucci
As previously mentioned, Gucci is currently owned by Kering. Kering is a global luxury group that manages a diverse portfolio of luxury brands across fashion, leather goods, jewelry, and watches. With a focus on sustainability and innovation, Kering has positioned itself as a leader in the luxury industry, driving growth and success for its brands through a combination of creativity, craftsmanship, and responsible business practices.
Who Bought Out Gucci?
The acquisition of Gucci by Kering in 1999 was a pivotal moment in the brand's history. Prior to Kering's takeover, Gucci had faced internal struggles and financial difficulties, prompting a fierce battle for control between Kering and LVMH. In the end, Kering emerged victorious and successfully acquired Gucci, setting the stage for a new chapter of growth and prosperity for the brand.
What Happened to Gucci's Previous Owner?
Before Kering took ownership of Gucci, the brand was controlled by Investcorp, a Bahrain-based investment firm. Investcorp acquired Gucci in 1993 after a period of turmoil and management challenges within the company. Under Investcorp's ownership, Gucci underwent a restructuring process and implemented strategic changes to revitalize the brand and restore its reputation as a leading luxury fashion house.
Is Gucci Still Family Owned?
Gucci is no longer a family-owned business, as it is now part of the Kering luxury group. The Gucci family's involvement in the brand's operations diminished over the years, particularly following the acquisition by Investcorp and later by Kering. While the Gucci family's legacy and contributions to the brand's heritage are still celebrated, the ownership and management of Gucci are now in the hands of Kering's executive team and board of directors.
Is Balenciaga Owned by Gucci?
Yes, Balenciaga is owned by Kering, the same luxury conglomerate that owns Gucci. Balenciaga, founded by Spanish designer Cristóbal Balenciaga, has become a prominent player in the fashion industry under Kering's ownership. Known for its avant-garde designs and innovative approach to fashion, Balenciaga has established itself as a key brand within Kering's portfolio, alongside Gucci and other prestigious labels.
Who Owns Gucci Today?
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