The company was founded in 1921, this year marks the Guccio Gucci just return home from overseas work experience in the Italian lessons, and in the opening of its first shop in Florence. Mainly to the sale of handicrafts made with superior leather goods in Florence. In a few years, Florence shop attracted many international customers with unique tastes, driven by the unprecedented success of Gucci's rapid expansion, and in 1938 opened in Rome's Via Condotti store. At the same time, Guccio Gucci founded the Azienda Individuale Gucci, 1939 was transferred to named Società Anonima Guccio Gucci. At first, Guccio's son Aldo, Ugo, and Vasco have a small portion of the company's shares. The fourth son Rodolfo was later to give up their career to join the family business. Guccio Gucci's death in 1953 coincided with the most prominent companies in the era of stores all over overseas, Gucci products have become global celebrities favorite. Sixties and seventies, the company began to experience difficult times, the situation is worse in the early eighties. Rodolfo Gucci as the company's chairman just put the business for a short time transferred to his son Maurizio, and Maurizio also started to restructure the company's business plan.
In 1989, Investcorp SA Bahrain as a base, but also business located in London and New York banks, Aldo Gucci and its descendants acquired 50% Gucci shares held, and Maurizio Gucci continued to own the remaining 50 % of the shares and continue to manage the company's operations. Four years later, in August 1993 when Gucci's business is in high-risk period, Maurizio Gucci decided to all of the remaining 50% stake sold to Investcorp, and officially left the company. As good at using internal resources, Gucci in a short period of three years begins with the face of adversity to recover. Domenico De Sole and Tom Ford is the company an important transitionfigure. De Sole in 1984 began managing Gucci American Inc., He is very familiar with the internal operation of the company, and in 1995, Gucci Group NV has been appointed as Chairman and Chief Executive Officer of operation. Tom Ford were appointed as Creative Director, Gucci and re-positioning.
Since the 1994 and 1995 financial data show strong revenue growth and future financial expectations, in October 1995, Investcorp decided to Gucci's 48.2% stake in New York and Amsterdam Stock Exchange, first degree offering a great success. Investcorp in 5 months 51.8% of the remaining shares will be listed, complete reduction to the hands of the Gucci shares, the ownership of Gucci into a decentralized company. November 24, 1997, Gucci Group acquired the leading internationalwatchmanufacturer and distributor of Severin Montres (now known as the Gucci Timepieces). Severin Montres Gucci franchise with over 23 years.
Gucci's success has finally been officially affirmed in 1998, the company received from the European Business Press Federation (UPEFE) selected from the 4,000 companies in the "European Company of the Year". Gucci This award reflects the excellent economic and financial performance and strategic deployment of companies rich and superior quality of management. March 1999 Gucci began to plan its strategic alliance with French background, Pinault-Printemps-Redoute (PPR) alliance, PPR also invest 290 million U.S. dollars in exchange for 40% of Gucci shares. This strategic partnership.
In the same year, Gucci Group NV also acquired Yves Saint Laurent and the Sanofi Beauté (later known as YSL Beauté). Yves Saint Laurent Beauté produced valuable not only to the famous perfume and cosmetics, including Opium and Paris fragrance, such as Roger & Gallet brand, also owns the franchise of a series of perfume brands such as Van Cleef & Arpels, Oscar de la Renta and Fendi. In 1999, Gucci Group NV also acquired a luxury shoe company Sergio Rossi, Italy 70% of control. In 2000, Gucci Group continued to expand its business through the acquisition of the same year in May the acquisition of Boucheron-one of the world have the most long history ofjewelry, watches and perfume brands. December the same year, Gucci Group acquired the British fashion brand Alexander McQueen 51% of global shares, but also the acquisition of its headquarters in Geneva, the success of business in the U.S. marketwatchmanufacturer Bédat & CO. In 2001, Gucci Group continued strategic acquisitions. Wei Qincha and in Italy (Vicenza) in the famous leather goods company Bottega Veneta signed the agreement, the Company acquired the 66.7% (later increased to 78.5%) of the controlling stake. Soon after, the Group announced an agreement with Stella McCartney, Stella McCartney and common development to a global brand name, and to focus on sales of brand-name women's clothing and accessories based. Most recent acquisition was July 6, 2001, is another French fashion brand Balenciaga. Gucci Group acquired 91% stake in the brand, and designer Nicholas Ghesquière holds the remaining stake.
With the Group in the high fashion industry management knowledge and experience and the attractive strong force, Gucci Group continued the expansion. To further enhance the Group's operating efficiency, in addition to Gucci brand, the Group is focused on restructuring and re-launch some of its brands. In fact, Gucci Gucci Group has been in the leading role to play, and its turnover in 2002 of more than 15 billion euros, while the Group's total turnover of 2.5 billion euros.
After 3 years, Gucci Group culminating in September 10, 2001 agreement with the French group LVMH, which need to completely give up shares of Gucci Group (LVMH in 1999 to all shareholders in the absence of open and fair to the case of the prospectus to try to win a controlling stake in the company.) Under the agreement, PPR committed to ensuring that all shareholders in March 2004 to $ 101.50 per share, shares of Gucci Group sold the Euro (the latter due to earnings per share of $ 13.50 in the relationship between the Euro and the next, PPR sold shares in the share price down to $ 85.52 .)
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