The House of Gucci which is more popularly known as just Gucci, is truly an icon in Italian fashion as well as a renowned leather goods designer label. This fashion house was founded by the Italian Guccio Gucci in 1921 in Florence. Gucci has been considered to be one of the most prestigious, famous and easily recognizable fashion brands globally. This fashion house belongs to the Pinault-Printemps-Redoute (PPR) which is a well known French conglomerate company.
Back in 2006, Gucci has been able to generate a global revenue of more than US$7 billion based on a report done by BusinessWeek magazine. It also ranked 46th in the annual chart of the magazine for the “Top 100 Brands”. Because of this, Gucci has been cited to be the next biggest selling fashion house
or label after LVMH. It is also the best selling Italian brand internationally. Gucci has around 425 stores worldwide. They wholesale their products through their franchisees and the upscale department stores.
Through a turnaround devised within the company in the late 1980s, Gucci was made into one of the most influential fashion houses in the world and into a very profitable business operation. Gucci later on went public in October of 1995 and had its very first public offering on the NYSE and AEX for $22 per share. In November of 1997, Gucci acquired Severin-Montres, a watch licensee, which they renamed Gucci Timepieces. The firm was also acknowledged by many organizations for its financial and economic performance, management quality as well as it strategic vision.