Gucci is a brand name which gives a touch of glamor and elegance associated with fashion. Gucci is one of the world’s leading luxury and designer brands which is famous for over-the-top luxury items or accessories such as bags over one lakh rupees. But how did the luxury brands of Gucci attain such fame? As you might guess, the story of this famous brand is rather interesting, so let us shed some light on it.
The Foundation of Gucci
Gucci was established in the year 1921 by Guccio Gucci in Italy and this company is a very old fashion company of Italy. At an early age, Guccio born from a middle-class family had a vision of owning his own business. He ran, being passionate about what he did despite his father’s disapproval. At first his attempt encountered difficulties and because of that he embarked on being an operator of a lift in Savoy Hotel, in London. Such exposure made him contract such wealthy customers which led him to embrace the luxurious life. The idea spurred Guccio to get back to Italy and lay down the firm, which specialized in leather products.
Early Success
Originally Gucci manufactured luggage accessories such as saddles and suitcases that were made of leather. Thus, during the 1930s when a lot of the rich people of Italy started using horses for recreating purposes, Gucci got an opportunity. It is worth noting that by the year 1937 the brand started expanding its premises to the international market after opening its first store at Manhattan of New York. This was the starting point of expanding the company’s operations outside Italy.
In the 60s and 70s the company has established itself as one of the premier luxury product markers. In order to strengthen its position on the market the company embarked on the process of flotation and the shares of the company became listed on the American Stock Exchange and New york stock Exchange. Such a decision helped Gucci to gain more exposure and thus increase customer awareness of the brand.
Diversification and Marketing Strategies
When Gucci started expanding it naturally wanted to expand its product line portfolio. The brand expanded further and set foot into the automobile industry. Partnering with Ford and General Motors to create interiors of luxury cars. This was a unique approach that aimed at proving that Gucci is much more than a fashion house.
The company for instance has always focused its marketing efforts on the higher end customer base. They created products that only elites could afford so as to prepurate the message of their brand as a status symbol. This claim can be backed up with the fact that when celebrities started being used by Gucci their sales soared. Appearance in films and events also placed it amongst the league of top brands for it was and still remains one of the most popular car brands in the world.
Facing Challenges
It continued to be successful; however during the late 1970s and early 1980s this firm experienced tremendous difficulties. Family squabble inside the business and unwise decisions brought downfall of the brand associated with it. In 1979 Gucci came up with an affordable sub brand which comprised the prestige of the Gucci brand. The company witnessed massive losses, and unauthorized fakes filled the market.
At this time the family disputes intensified which resulted in public conflict. It negatively impacted the perception of the brand, and Gucci was in danger of facing an imminent shutdown.
A New Era
The death of Mr Rodolfo Gucci in 1983 is considered as a major turning point in the company’s affair. This event shocked this company but on the same did not bring out the possibility of a new beginning. In 1989, after Rodoflo death, his son Maurizio Gucci took the charge of the brand. He also started taking big managerial decisions to bring the company back to life such as appointing Tom Ford as the creative director in 1994.
Through Ford’s vision and through creating innovative designs for Gucci, it was revived. He tried to present astounding, progressive clothes suitable for the new age of luxury buyers. During his tenure as the head of the company, Gucci has undergone a very successful revival with the company becoming a leader in the fashion industry once again.
Lessons from Gucci
The story about Gucci’s evolution is a good example of determination and the role of strong vision. One of the lessons from the story of the founder’s struggle to achieve their goal is the necessity to persist. Gucci always tried to appeal to the upper class stratum of the society thus giving further credence to the notion of thinking big working.
Looking at the world where challenges are a common feature. The story of Gucci treasures all that no dream is too big to be achieved.
Conclusion: Gucci
It is not just a brand; it is the icon of luxury and the representation of people’s desire to achieve in life. The history of the fashion giant called Gucci, that started in Florence and grew into a worldwide known brand is the story of creative ideas, challenges and success.
Thus, as you progress in respective lives, it is important to be reminded that no matter the odds against anyone, just like Guccio Gucci anyone can triumph over troubles and purse’s one dream.
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