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This article is about the line of clothing. For the rapper, see Gucci Mane. For the Kreayshawn song, see Gucci Gucci.
Gucci
Company typeSubsidiary
IndustryFashion
Founded1921; 103 years ago (1921)
FounderGuccio Gucci
Headquarters
Florence
,
Italy
Number of locations
550+ (2014)
Key people
Marco Bizzarri
(CEO)
Alessandro Michele
(Creative Director)
RevenueUS$ 4.3 billion (2016)[1]
ParentKering
Websitewww.gucci.com

Gucci (/ɡuːtʃi/; Italian pronunciation: [ˈɡuttʃi]) is an Italian luxury brand of fashion and leather goods, part of the Gucci Group, which is owned by the French holding company Kering.[2][3][4] Gucci was founded by Guccio Gucci in Florence in 1921.[5] Gucci generated about €4.2 billion in revenue worldwide in 2008 according to BusinessWeek and climbed to 41st position in the magazine's annual 2009 "Top Global 100 Brands" chart created by Interbrand;[6] it retained that rank in Interbrand's 2014 index.[7] Gucci is also the biggest-selling Italian brand.[6]

Gucci operates about 278 directly operated stores worldwide as of September 2009, and it wholesales its products through franchisees and upscale department stores.[8] In the year 2013, the brand was valued at US$12.1 billion, with sales of US$4.7 billion. In the Forbes World's Most Valuable Brands list, Gucci is ranked the 38th most valuable brand, with a brand value of $12.4 billion as of May 2015.[9] As of January 2015, the creative director is Alessandro Michele.[10]

History

The founder Guccio Gucci

One day Cordan Wong,was sitting in his house relaxing like a cool guy. He was a amazing Latin student and thought to himself, why don't I just created the dumbest brand ever. After creating the brand he was like this is dumb af Bruh. But then some other dumb people were like why don't we be really dumb and use it for no reason. Then My dog died and my roof caved in. THe end.

younger designers promoted from the ranks of the company’s staff.[11]

In 2005, Frida Giannini was appointed as the creative director for women’s ready-to-wear and accessories, previously joining Gucci in 2002. In 2006, she also became the creative director for men's ready-to-wear and the entire Gucci label.[12]

As announced in December 12, 2014, Creative Director Frida Giannini and CEO Patrizio di Marco were to step down from Gucci. Marco Bizzarri was appointed CEO of the brand.[13]

Corporate

Gucci Store in Buenos Aires, Argentina

A turnaround of the company devised in the late 1980s made Gucci a global contender and a notable fashion label. In October 1995, Gucci went public and had its first initial public offering on the AMEX and NYSE for $22 per share. November 1997 also proved to be a successful year as Gucci acquired a watch license, Severin-Montres, and renamed it Gucci Timepieces.

The firm was named "European Company of the Year 1998" by the European Business Press Federation for its economic and financial performance, strategic vision as well as management quality.[citation needed]

Gucci headquarters are in Florence, other world offices are in Milan, Paris, London, Hong Kong, Japan, and New York. Kering headquarters are in Paris.

In 1989, Maurizio managed to persuade Dawn Mello, whose revival of New York's Bergdorf Goodman in the 1970s made her a star in the retail business, to join the newly formed Gucci Group as Executive Vice President and Creative Director Worldwide. At the helm of Gucci America was Domenico De Sole, a former lawyer who helped oversee Maurizio's takeover of ten 1987 and 1989. The last addition to the creative team, which already included designers from Geoffrey Beene and Calvin Klein, was a young designer named Tom Ford. Raised in Texas and New Mexico, he had been interested in fashion since his early teens but only decided to pursue a career as a designer after dropping out of Parsons School of Design in 1986 as an architecture major. Dawn Mello hired Ford in 1990 at the urging of his partner, writer and editor Richard Buckley.

In the early 1990s, Gucci underwent what is now recognized as the poorest time in the company's history. Maurizio riled distributors, Investcorp shareholders, and executives at Gucci America by drastically reining in on the sales of the Gucci Accessories Collection, which in the United States alone generated $110 million in revenue every year. The company’s new accessories failed to pick up the slack, and for the next three years the company experienced heavy losses and teetered on the edge of bankruptcy. Maurizio was a charming man who passionately loved his family's business, but after four years most of the company's senior managers agreed that he was incapable of running the company. His management had had an adverse effect on the desirability of the brand, product quality, and distribution control. He was forced to sell his shares in the company to Investcorp in August 1993. Dawn Mello returned to her job at Bergdorf Goodman less than a year after Maurizio’s departure, and the position of creative director went to Tom Ford, then just 32 years old. Ford had worked for years under the direction of Maurizio and Mello and wanted to take the company’s image in a new direction. De Sole, who had been elevated to President and Chief Executive Officer of Gucci Group NV, realized that if Gucci were to become a profitable company, it would require a new image, and so he agreed to pursue Ford’s vision.

In 1998, Guinness World Records cited the Gucci "Genius Jeans" as the most expensive pair of jeans in existence. These jeans were distressed, ripped and covered with African beads and were offered for sale for US$3,134 in Milan.[14] (This record was surpassed in June 2005 by Levi Strauss & Co.'s 115-year-old 501 jeans that sold to an anonymous Japanese collector for $60,000.)[15]

In early 1999, the luxury goods conglomerate LVMH, headed by Bernard Arnault, increased its shareholdings in Gucci with a view to a takeover. Domenico De Sole was incensed by the news and declined Arnault's request for a spot on the board of directors, where he would have access to Gucci’s confidential earnings reports, strategy meetings, and design concepts. De Sole reacted by issuing new shares of stock in an effort to dilute the value of Arnault’s holdings. He also approached French holding company Pinault-Printemps-Redoute (PPR) about the possibility of forming a strategic alliance. François Pinault, the company’s founder, agreed to the idea and purchased 37 million shares in the company, or a 40% stake. Arnault’s share was diluted to a paltry 20%, and a legal battle ensued to challenge the legitimacy of the new Gucci-PPR partnership, with the law firm of Skadden, Arps, Slate, Meagher & Flom representing Gucci. Courts in the Netherlands ultimately upheld the PPR deal, as it did not violate that country's business laws. The second largest shareholder is Crédit Lyonnais with 11%. As of September 2001, a settlement agreement was put into place between Gucci Group, LVMH, and PPR.

Following Ford's departure, Gucci Group retained three designers to continue the success of the company's flagship label: John Ray, Alessandra Facchinetti and Frida Giannini, all of whom had worked under Ford's creative direction. Facchinetti was elevated to Creative Director of Women's wear in 2004 and designed for two seasons before leaving the company. Ray served as Creative Director of Menswear for three years. 32-year-old Giannini, who had been responsible for designing men's and women's accessories, served as Creative Director for the entire brand.

In 2006, Frida Giannini, formerly Creative Director of accessories, was named sole Creative Director. In 2009, Patrizio di Marco replaced Mark Lee as CEO of Gucci.

Marco Bizzarri was appointed CEO of the brand as announced on December 12, 2014,[13] and Alessandro Michele became Gucci's Creative Director on January 21, 2015.[16]

In April 2016, Susan Chokachi was promoted to the role of President and Chief Executive Officer of Gucci America, having previously held the role of Senior Vice President of Marketing and Communications.[17]

Controversies

In June 2012, Gucci won a trademark lawsuit against Guess with an award of $4.7 million in damages.[18] On 16 October 2013, Gucci won a trademark counterfeiting and cybersquatting lawsuit, in US federal district court in Fort Lauderdale, Florida, against several online business.[19] Gucci won permanent injunction, the "immediate surrender to Gucci of 155 domain names used in the counterfeiting operation", and an award of USD $144.2 million, which includes interest.[19] On 5 November 2013, the UK's Intellectual Property Office issued a ruling that Gucci has lost the rights to its GG trademark in the UK "to a version of the GG logo in four categories, which encompassed garments such as bracelets, shoulder bags, scarves and coats".[20] German clothing firm Gerry Weber applied to revoke "the trademark on account of its 'nonuse' in the periods from 2003 through 2008 and 2007 through 2012".[20] However, "according to Gucci, the ruling does not affect the use of its GG logo in the region" because “Gucci is the owner of several other valid registrations for this mark, including a Community Trade Mark (covering the European Union) for its iconic GG logo and those rights are directly enforceable in the U.K."[20] On 6 November 2013, Gucci won a trademark infringement and unfair competition activities lawsuit against Guess in Nanjing Intermediate People’s Court of the People's Republic of China.[18] Gucci claimed that Guess was " imitating its collections and image."[18] In December 2014, a Gucci subcontractor in Italy told Investigative Journalists that Gucci was aware it irregularly employed Chinese workers who worked as long as 14 hours a day.[21]

Gucci produced controversial advertisements that many believe sexualizes and objectifies women. Erving Goffman conducted research on advertisements and how they are consistently reinforcing common stereotypes of women.[22] He outlined different characteristics commonly found in media that tend to favor men over women. These stereotypes, which can all be found in Gucci’s advertisements, include relative size, ritualization of subordination, feminine touch, and function ranking.[23]

Almost all of Gucci’s advertisements include a woman who is being dismembered to show off a certain part of her body, positioned in a way, that some would consider, sexualizes her body, or made much smaller in size to appear submissive to the counterpart (usually a male) in the ad. Jean Kilbourne describes how often advertisements are working to undermine women and place women in positions of passivity.[23] Many people find these advertisements offensive and in turn many organizations have publicly criticized Gucci. The Fashion Law, a fashion legal and business website, argues that the infamous line “sex sells” is proven through Gucci’s continual use of scandalous advertisements and correlating sales.[24]

In early 2003 Gucci produced a highly popular advertisement which pictured a super model with her pants pulled down and her pubic hair shaved into a “G”. The Advertising Standards Authority (United Kingdom) received countless complaints from people and organizations, including the director of mediawatchuk demanding the ad be banned due to his belief it was “harmful to society”.[25] Many believed that the outcry regarding the ad just fed the idea that Gucci was using sex to successfully sell their products.[24] Although this was a point of contention between Gucci and the Advertising Standards Authority, scholars have shown that Gucci continues to walk the thin line between offensive and acceptable advertisements.

Gucci’s ad was banned worldwide instantly, but the Italian luxury brand still continues to publish controversial ads.[26] Gucci used a short film and images with reference to a cult film about drug addiction.[27] The campaign advertisement depicted women dealing with drugs and prostitution. The film the Gucci ad is inspired by is based on a 14-year-old heroin addict and sex workers’s true story.[27] A scene in the Gucci campaign takes place in a subway/railway station usually connected with prostitution and drug trade; in the film, the main character and her boyfriend sell their bodies at that same place called the Bahnhof Zoo.[27] This advertisement received a lot of backlash primarily because one of their young models was unhealthily thin according to the Advertising Standards Authority.[28] This advertisement may sound shocking to some, but to the advertisement industry it is a prime example of what they are supposed to do.[29] William O'Barr argues that advertisements' main priority is to break through and draw the consumer's attention, regardless of what is deemed appropriate in society's eyes.[30]

Automobile collaborations

Interior of the AMC Hornet Sportabout with the Gucci package
Exterior of the Fiat 500 with the Gucci package

Aldo Gucci expanded into new markets including an agreement with American Motors Corporation (AMC). The automaker merged the worlds of couture and automobiles with the Gucci AMC Hornet.[31] Starting in October 1971,[32] the 1972 and 1973 model year Hornet compact "Sportabout" station wagons became one of the first American cars to offer a special luxury trim package created by a famous fashion designer.[33] Although coming from Italy where sleek sports cars are more revered, Gucci put his special touch efforts on the Hornet station wagon with a rear lift gate and 60.8 cubic feet (1,722 L) of cargo space inside.[34] In contrast to ordinary boxy-looking station wagons, the Sportabout's design featured a low sloping roofline in the rear and tight overall dimensions.[35] The Gucci versions came with the designer's signature red and green trim colors on well-padded beige-upholstered seating and on the interior door panels. The Gucci crest appeared on the inside front door panels and on the front fenders, while the "GG" trademark was on the headliner. Exterior color selections were limited to Snow White, Hunter Green, Grasshopper Green, and Yuca Tan.[36]

The $142 Gucci trim option package was selected on a total of 2,584 Sportabouts produced during 1972 and on 2,251 more during the 1973 model year.[37] Additionally, a Sportabout was commissioned by Gucci for his personal use and to showcase some of his other automotive ideas.[35] The exterior grille featured a Gucci motif, transparent covers over the front lights wrapped around the sides, and the rear trim panel had horizontal red and green stripes on a gray cloth insert.[35] The interior was finished in black leather and a tight-weave Italian fabric incorporating the double-G pattern in black against a light gray background and gray carpeting with black piping. Front bucket seats featured center armrest with vanity case and the dashboard had pullout writing desk with folding lamp, notepad, pen and vanity mirror on a flexible holder.[35] Rear seat passengers had a center fold down armrest with a set of games in a removable box and the right seat back included a foldout table for snacking or playing with the game set and the left seatback opened to a compartment housing four tumblers and two beverage bottles.[35]

Starting in 1978 and producing a decreasing number each year through the 1984 model year, a Miami-based coachbuilder marketed a Gucci edition of the Cadillac Seville sedan.[37] The exterior included a "facing double G" Gucci logo, an emblem actually featuring Guccio Gucci’s initials,[38] as a hood ornament and the c-pillar covered vinyl roof. The interior had a headliner of the logo and headrests adorned with the logo as well. The dashboard carried the "Gucci script" logo in bold lettering. Inside the trunk was a full set of Gucci luggage.

For 2011, Gucci and Fiat unveiled special versions of the Fiat 500 featuring characteristic stripes inside on the seat belts, seat upholstery, shifter, floor mats, and key fob.[39] The exterior includes green and red stripes below the window line and wrapping around the back as well as 16-inch wheels with Gucci’s interlocking-G logo on the center caps.[40] Available in white with matte-finish chrome trim or in black with glossy chrome accents, the small car includes leather trim and other designs "to make it feel like a Gucci handbag."[41] The hatchbacks were joined by the 500C by Gucci featuring a sliding cloth roof with a green-red-green Gucci stripe.[42] The Gucci versions of both the regular 500 and the cloth-top 500C were again available in 2013.[43]

Partnerships

Gucci has had a partnership with UNICEF since 2005.[44] Gucci stores worldwide donate a percentage of the sales for special collections made specifically for UNICEF to go toward the United Nations Children's Fund. The annual Gucci Campaign to Benefit UNICEF supports education, healthcare, protection and clean water programs for orphans and children affected by HIV/AIDS in sub-Saharan Africa. For the campaign in 2009, Michael Roberts promoted a children's book, "Snowman in Africa" with proceeds going to UNICEF. In five years, Gucci donated over $7 million to UNICEF. Gucci is the largest corporate donor to UNICEF's "Schools for Africa" that was established in 2004 by UNICEF, the Nelson Mandela Foundation, and the Hamburg Society. Its goal is to increase access to basic schooling for all, with a special emphasis on children orphaned by HIV/AIDS and children living in extreme poverty.

Chime for Change

Launched in February 2013, the "Chime for Change" campaign[45] works to further the global campaign for girls' and women's empowerment. Gucci has funded over 210 projects in 81 countries through via this initiative.

In 2013, it was announced that Beyoncé Knowles would work with Salma Hayek and Frida Giannini on the campaign that aims to spread female empowerment. The campaign, which aired on February 28, was set to new music by Knowles.[46] A concert for the cause took place on June 1, 2013 in London[47] and included other acts like Ellie Goulding, Laura Pausini, Florence and the Machine, Iggy Azalea and Rita Ora.[48] The concert raised over $130,000.

In July 2013, activist Lydia Emily was commissioned to paint a mural on Skid Row, Los Angeles of a woman named Jessica, who is a survivor of human trafficking. She currently works for the Mary Magdalene Project – an organization which has been helping women leave the sex industry since 1980.[49]

Gucci Museo

Gucci opened a 1,715 square metre museum charting its 90-year history; Gucci Museo is located within the Palazzo della Mercanzia overlooking the Piazza della Signoria.[50]

See also

References

  1. ^ Gucci Annual Report 2016
  2. ^ Kering, Group. "A new name for a new identity". Kering. Retrieved 1 July 2013. {{cite web}}: |first= has generic name (help)
  3. ^ Vikram Alexei, Kansara. "Why Did PPR Change Its Name to Kering?". The Business of Fashion. Retrieved 1 July 2013.
  4. ^ "Alexander McQueen and Gucci Group appoint Sarah Burton as Creative Director" (PDF). Gucci Group. Archived from the original (PDF) on 5 February 2011. Retrieved 20 March 2011. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  5. ^ "Gucci – 1920s". www.gucci.com/us. Retrieved 19 March 2012.
  6. ^ a b "The 100 Top Brands: Gucci". Business Week. 2008. Retrieved 19 March 2012.
  7. ^ bestglobalbrands.com Best Global Brands: 2014 Ranking
  8. ^ Hoover Profile of Gucci Group NV from Answers.com
  9. ^ forbes.com Gucci Accessed 9/3/2015
  10. ^ Bridget Foley Gucci Confirms Alessandro Michele as Creative Director Women's Wear Daily January 21, 2015
  11. ^ Wigham, Helen. "Three designers took over from Tom Ford after he left Gucci". Vogue. Retrieved 24 August 2013.
  12. ^ Frida Giannini: Creative director Gucci. PPR.com. Retrieved 20 March 2011.
  13. ^ a b Roberts, Andrew (12 January 2015). "Gucci Designer Giannini Exits Early as New CEO Takes Control". Businessweek.com. Retrieved 3 December 2015.
  14. ^ Yara, Susan (30 November 2005). "The Most Expensive Jeans". Forbes. Retrieved 6 December 2014.
  15. ^ "most expensive jeans". Guinness World Records. 15 June 2005. Retrieved 8 February 2011.
  16. ^ Fury, Alexander (22 January 2015). "Alessandro Michele is the new Creative Director of Gucci". The Independent. Retrieved 3 December 2015.
  17. ^ "Gucci Names New President, CEO for Gucci America". The Fashion Law. Retrieved 27 April 2016.
  18. ^ a b c Karr, Arnold J.; Martens, Cynthia (11 November 2013). "Guccio Gucci SpA Wins Trademark Case in China". WWD. Retrieved 20 November 2013.
  19. ^ a b Young, Vicki M. (17 October 2013). "Gucci Awarded $144.2M Against Online Counterfeiters". WWD. Retrieved 20 November 2013.
  20. ^ a b c Jones, Nina (20 November 2013). "Gucci in Trademark Tussle in U.K." WWD. Retrieved 3 December 2015.
  21. ^ "Gucci to check Chinese suppliers after TV exploitation charges". Reuters. 22 December 2014. Retrieved 3 December 2015.
  22. ^ Uhlenbrock, George; Michelle, Jennifer. "Effects of Advertisements on Perceptions of Women's Leadership" (PDF). Retrieved 14 March 2016.
  23. ^ a b Kilbourne, Jean. "Killing Us Softly 4". Media Education Foundation. Retrieved 3 March 2016.
  24. ^ a b "The Fashion Law". The Fashion Law. 22 December 2015. Retrieved 20 March 2016.
  25. ^ barkingside01. "Gucci "The 'G' Spot"". the advertisingreviewblog. Retrieved 14 March 2016.{{cite web}}: CS1 maint: numeric names: authors list (link)
  26. ^ Brennan, Siofra (21 January 2016). "Is heroin chic back? Gucci releases new campaign seemingly inspired by cult film Christiane F about a 14-year-old drug addict and prostitute". Daily Mail. Retrieved 24 May 2017.
  27. ^ a b c Brennan, Siofra (21 January 2016). "Is heroin chic back?". Daily Mail. Retrieved 30 March 2016.
  28. ^ "Gucci Ad Banned Over 'Unhealthily Thin' Model". The Guardian. Retrieved 30 March 2015.
  29. ^ Ford, Jennifer (28 March 2008). "Fashion advertising, men's magazines, and sex in advertising: A critical-interpretive study". Scholar Commons. Retrieved 30 March 2016.
  30. ^ O'Barr, William. "Representations of Masculinity and Femininity in Advertisements". Advertising and Society Review. Retrieved 20 March 2016.
  31. ^ Georgano, G.N., ed. (1985). The Complete Encyclopedia of Motorcars 1885 to the present. Guild Publishing. p. 93.
  32. ^ Lund, Robert (October 1971). "AMC gets it together". Popular Mechanics. 136 (4): 116–118, 206. Retrieved 28 June 2017.
  33. ^ Dunnaway, Jen (10 April 2009). "Hot: Gucci-Edition Hornet Interior!". cardomain.com. Archived from the original on 13 March 2014. Retrieved 28 June 2017.
  34. ^ Foster, Patrick R. (1993). American Motors – The Last Independent. Krause Publications. p. 175. ISBN 978-0-87341-240-7.
  35. ^ a b c d e Foster, Patrick (August 2011). "AMC Innovation: Gucci adds style to the Hornet Sportabout". Hemmings Classic Car. Retrieved 28 June 2017.
  36. ^ Gunnell, John, ed. (1987). The Standard Catalog of American Cars 1946-1975. Krause Publications. pp. 42–45. ISBN 978-0-87341-096-0.
  37. ^ a b Sean (24 April 2012). "A look at 40 years of Gucci edition cars from American Motors to Cadillac to Fiat". Classic Cars Today Online. Retrieved 28 June 2017.
  38. ^ Cite error: The named reference Logo was invoked but never defined (see the help page).
  39. ^ Krupnick, Ellie (19 October 2011). "Gucci To Unveil Fiat 500 by Gucci During New York Fashion Week". Huffington Post. Retrieved 28 June 2017.
  40. ^ Siler, Steve (March 2011). "Fiat 500 by Gucci: Fiat's little three-door gets dolled-up by some fellow Italians". Car and Driver. Retrieved 28 June 2017.
  41. ^ Woodyard, Chris (4 December 2011). "Fiat pitches 500 by Gucci to wealthy holiday shoppers". USA Today. Retrieved 28 June 2017.
  42. ^ Stollosa, Alexander (3 August 2011). "Success of Fiat 500 by Gucci Begets Roofless Fiat 500C by Gucci". Retrieved 28 June 2017.
  43. ^ Ewing, Steven J. (12 June 2013). "Fiat 500 Gucci Edition returns, priced from $23,750". Autoblog. Retrieved 28 June 2017.
  44. ^ "UNICEF International partnerships: Gucci". UNICEF. Retrieved 25 December 2009.
  45. ^ "CHIME FOR CHANGE".
  46. ^ Karmali, Sarah (28 February 2013). "Beyoncé Leads New Gucci Empowerment Campaign". Vogue. Retrieved 12 March 2013.
  47. ^ Talarico, Brittany (17 April 2013). "Katy Perry, Blake Lively Join Beyoncé and Gucci to Empower Women". People. Retrieved 22 April 2013.
  48. ^ "Julia Roberts, Ben Affleck, Cameron Diaz And Gwyneth Paltrow Lead A Cast Of Famous Faces Counting Down To The Sound Of Change Live" (PDF). Chime For Change. London, UK. 29 May 2013. Retrieved 16 February 2015.
  49. ^ "Lydia Emily Paints for CHIME FOR CHANGE".
  50. ^ In Florence, Italy. Gucci Museo Accessed 9/3/2015
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