GUCCI - fastest growing luxury brand
- Gucci was established by Guccio Gucci in the year 1921 in Florence, Italy.
- Gucci, being a saddler, had started the venture to sell leather bags to his horse riding customers.
- Over the years, Gucci diversified its product range and launched loafers which soon became a wardrobe essential for both men and women.
- Gradually, it had become famous among wealthy travelers and film stars and also grew famous in New York. Their products now included clothing, perfumes , watches and footwear
- 1970's were the game changer for Gucci. After the death of Guccio, disputes started arising between the family members over the ownership of the company.
- By 1993, the business was on the verge of bankruptcy.
- The company was debt ridden and had no money to repay the debts. This is when Tom Ford entered the scene.
- Wife of one of the grandsons of Guccio hired Tom Ford as the creative director in 1994.
- He completely transformed Gucci into a luxury brand having glamours collection.
- His designs earned the company profits worth over 1 billion dollars.
- Tom Ford took Gucci to great heights.
- He landed Gucci a world record for selling the most expensive pair of jeans.
- A ripped, distressed jeans covered worth African beads.
- Cost of the Jeans: over 3000 Dollars
- Presently Gucci is the world's fastest growing luxury brand, a brand worth over 18 billion Dollars.
- It has successfully leveraged social media to create a loyal fan-base.
