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Fashion Lifestyle

Gucci Leads in the Fast-Growing Sector of Luxury Brands

“Quality is remembered long after the Price is forgotten” – GUCCI

Gucci is an Italian luxury brand of fashion and leather goods headquartered in Florence and was founded by Guccio Gucci in 1921. Together with his three sons, Aldo Gucci, Vasco Gucci, and Rodolfo Gucci, the company has expanded their store in Milan and Rome and added more stores in Florence.

In October 1995, Gucci went public and had its first initial public offering on the AMEX and NYSE for $22 per share. The firm was named “European Company of the Year 1998” by the European Business Press Federation.

Before becoming a successful brand, Gucci also underwent in their poorest time and almost reach the peak of bankruptcy.

Today, Gucci’s brand value inflated up to 30 percent to $12.9 billion out powering other luxury fashion label like Louis Vuitton with only 23 percent to $28.2 billion. Thanks to Marco Bizzarri, Interbrand credits Chief Executive of Gucci and Alessandro Michele, company’s Creative Director.

Gucci has yet to overtake Louis Vuitton as the world’s biggest luxury label owned by LVMH when it comes to sales. Louis Vuitton’s sale generated 8 billion euros in 2017 compared to Gucci’s 6.2 billion euros only. According to Bizzarri, they are aiming for $11.5 billion in revenue in order to do so.

Gucci is also investing in e-commerce to keep the brand growing as well as building their market in cosmetics and perfumes to raise their revenue.

Meanwhile, Bizzarri reassures its employees that the sense of the brand is “stronger than ever”.