Gucci,
or the House of Gucci, is an Italian haute
couture establishment. It was founded by Guccio Gucci (1881-1953)
in Florence in 1921.
History
of the Gucci house
Gucci remained
one of the premier luxury goods establishments in the world until the
late 1970s, when a series of disastrous business decisions and family
quarrels brought the company to the verge of bankruptcy. At the time,
brothers Aldo and Rodolfo controlled equal 50% shares of the company,
though Aldo felt that his brother contributed less to the company than
he and his sons did. In 1979, Aldo developed the Gucci Accessories
Collection, or GAC, intended to bolster the sales for the Gucci Parfums
sector, which his sons controlled. GAC consisted of small accessories,
such as cosmetic bags, lighters, and pens, which were priced at considerably
lower points than the other items in the company’s accessories catalogue.
Aldo relegated control of Parfums to his son Roberto in an effort to
weaken Rodolfo’s control of the overall operations of the company. |