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| Summary: Although Gucci no longer actually has any meaningful connection to the Gucci family, Gucci handbags and Gucci purses are still considered to be of top status. A Gucci handbag or Gucci purse on one's arm tells people that you appreciate quality and fine craftmanship. |
Gucci is perhaps one of the most globally recognized brands and logos ever.
The House of Gucci was founded in 1921 by Guccio Gucci. Guccio was born in 1881, and seemed born to work with leather. Having already gained a reputation as a fine leather craftsman, he opened his first leather goods shop in 1906. Guccio Gucci’s leather offerings initially were primarily saddles and related items.
After a period of moving around, living in both Paris and London, Guccio returned to Italy and opened what was to become the first real Gucci store in 1920, in Florence, where he crafted and offered quality luggage and accessories.
Guccio had four sons, Vasco, Aldo, Ugo, and Rodolfo, all who came into the business, and stores were opened in Milan and Rome. For more than thirty years, Guccio Gucci’s business puttered along in Italy. Then, in 1953, the same year that Guccio passed away, the Gucci sons opened the first Gucci store in New York City. Although this signaled Gucci’s arrival on the international market, it had been done over Guccio’s strong objections, and after his death the family descended into familial infighting so great that it created rifts which never healed.
The New York store was followed in 1961 with a London Gucci store, the first Gucci store in Europe outside of Italy. Eleven years later, in 1972, Gucci arrived in Japan.
By this point in time, Gucci had become one of the premiere status symbols, and purses with the iconic logo were seen on the arms and shoulders of all of the beautiful people and jet setters.
The Gucci empire remained in the hands of the Gucci family until the 1980s. The 80s were generally not kind to the Gucci family, and in the late 1980s an outside investment group, Investcorp, acquired a 50% interest in Gucci. In 1989 Guccio’s grandson Maurizio Gucci took the office of President of Gucci. However the company was in trouble, and Maurizio unable to turn it around, and in 1993 Maurizio stepped down. Investcorpt acquired the remaining interest in Gucci from Maurizio. Two years later Maurizio was killed by his wife.
Gucci is now a publicly traded company, owned entirely by investors. Gucci, which is presently headquartered in the Netherlands, has nearly 400 stores wordwide, and employs nearly 12,000 employees.
Despite all of the corporate turmoil, without the change of hands, it is entirely possible that the Gucci purse would not be around today, as many believe that the Gucci house was headed to oblivion due to lack of clear, strong leadership.
Today, the Gucci purse, while no longer being made by the Gucci family, retains its rank as a leading status symbol, and while perhaps not enjoying quite the cache which it did in the 60s, Gucci purses can still be seen on the most stylish of arms.
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