Who else won't be familiar with the worldwide famous luxury fashion brand gucci and how it evolved through crisp and tough times but always re-emerged better than before.
A leading Italian fashion label, Gucci, was founded in 1921 by Guccio Gucci. Like many historic fashion houses, the brand produced luggage and equestrian equipment for Italy's upper classes in its early years.
To begin with, the brand primarily produced leather goods, shoes, handbags, as well as premium knitwear, and silk goods. In the second world war, cotton was the only material available to the label to work with due to material constraints. It was also the time when the brand introduced its distinctive “Double-G” monogram and the now-iconic Gucci stripe, consisting of green-red-green colour stripes.
Gucci's extravagant and opulent designs made it a favourite of wealthy travellers, Hollywood A-listers, and other well-heeled shoppers. aldo, Vasco, and Rodolfo Gucci continued the family business after Guccio died in 1953. From the mid-'60s onward, the brand branched out into luxury accessories, including eyewear, watches, and jewellery, which have since become the cornerstone of the brand.
Following the death of Rodolfo Gucci, his son Maurizio took over the family business in 1983. During this period, numerous problems plagued the brand, such as family disputes, assassinations, and foreign sales. American designer tom ford joined Gucci in 1990 as a ready-to-wear designer, rising to become its Creative Director four years later. Ford gets credit for restoring Gucci's reputation, streamlining its identity, product offerings, and exemplifying its opulence and extravagance once again.
From 2006 to 2014, Giannini led both men's and women's ready-to-wear design, replacing Ford. The brand announced Alessandro Michele, its next creative director, in 2015. Aside from attracting young and aspirational customers, Michele's style has proven to be highly successful, blending Gucci's classical penchant for extravagance with a kitsch theatricality. Under Michele's leadership, Gucci achieved record sales in early 2017, boosting profits for the brand's parent company, Kering, by 11%. This high performance of the brand continues today.
The journey of an inspirational family empire, full of ups and downs, has been filmed, ready to release on 24th November 2021, featuring title HOUSE OF GUCCI, A Sensational Story of Murder, Madness, Glamour, and Greed. This upcoming American epic biographical crime drama film is plotted around an outsider Patrizia Reggiani (lady gaga), who marries Maurizio Gucci, but her betrayal leads to vicious revenge, damage to the family legacy, and ultimately the murder of her ex-husband (Maurizio Gucci).
Now the wait is to see if this movie will be a fresh chapter in GUCCI's business success profile as its fashion collections.
We all know that a thriving family business not only generates income but also helps establish a market presence with a unique brand identity. It also helps in managing your finance after retirement building a legacy for the family. You'll see many examples of struggling family businesses turning into successful empires and you can read their stories on Pension Times.