Guccio Gucci was born on 26 March 1881 in Florence, Italy. He is an Italian businessman and fashion designer famously known for being the founder of the renowned brand Gucci. The company has a product line that includes handbags, ready-to-wear, footwear and accessories, makeup, fragrances, and home decoration. Gucci is now a worldwide known brand with a net worth of more than $10 billion.
Guccio Giovanbattista Giacinto Dario Maria Gucci was an Italian businessman and fashion designer famously known for being the founder of Gucci.
Guccio was born on 26 March 1881 in Florence, Tuscany, Italy, to Gabriello Gucci, a leather craftsman from San Miniato, and Elena Santini, from Lastra a Signa. When he was a teenager, fascinated by the upper-class tourists with expensive luggage bags, he admired the luggage company H.J. Cave & Sons.
Guccio moved to London to work in Savoy Hotel. He came back to Florence and started working on making travel bags and accessories.
Opening of Gucci
In 1921, Guccio Gucci started the House of Gucci in Florence as a small family-owned leather shop. In the 1920s, he began his business by selling saddles, leather bags, and other accessories to horse riders.
Soon, Guccio’s one-person business turned into a family business when his five sons joined the company. In 1938, by the insistence of his son Aldo, Guccio expanded his business to another location in Rome.
In 1951, Gucci had its first store open in Milan. Guccio Gucci wanted to keep the business small. While he was alive, the company only had stores in Italy. His sons, Aldo, Rodolfo, and Vasco, opened the New York Gucci Boutique two weeks before Guccio’s death.
After the death of Guccio Gucci, the business was left to his five sons. Under their leadership, the brand achieved great heights and opened many international stores.
The Gucci Family Feud
In 1969, Giorgio, son of Aldo, sparked the feud in the family by launching Gucci Boutique alone. Paolo Gucci, son of Aldo, tried to launch the brand Gucci Plus alone. In 1982, to ease the tension in the family, the Gucci group consolidated and became a publicly-traded company, Guccio Gucci SpA.
In May 1983, Rodolfo passed away, and his son, Maurizio Gucci, who inherited the major stakes in the company, launched a legal complaint against his uncle, Aldo, to gain complete control of the company. Maurizio Gucci took over the company. A sentence of one year was given to Aldo Gucci, at 81 for tax invasion in 1986.
Despite the family feud, the sales of Gucci reached $400 million and $227 million alone in 1990.
In 1901, the marriage of Guccio Gucci and Aida Calvelli took place. The couple had six children, five sons, and one daughter. Aida Calvelli already had a son from her previous relationship, Ugo Calvelli Gucci, who Guccio Gucci later adopted.
Guccio’s son, Enzo, died at the young age of nine. His other four sons, Aldo, Rodolfo, Ugo, and Vasco, held significant roles in his company. The daughter had no position in the company.
The family feud of the 1980s and the sibling rivalry became a severe issue and divided the family.
Death and Legacy
He died on Jan 2nd 1953. After his death, his business was continued to looked after by his 5 sons. After the change of leadership from Gucci himself to his sons, the brand expanded massively and opened in various international locations. Gucci also diversified its product line after the leadership change. Gucci also has a museum dedicated to its fashion products. The name of the museum is Gucci Garden. The museum is located in Florence, Italy. The museum is centered around the history of the company and the founder Guccio Gucci himself.
How old is Gucci brand now?
The Gucci brand which was founded in 1921 is now 101 years old.
What is the net worth of Gucci?
In 2022, the Gucci brand was valued at approximately 18.1 billion U.S. dollars. This was approximately 2.5 billion dollars more than in the previous year.