![]() ![]() Gucci became involved in various court battles in an apparent bid to drive his family members from the board-their stakes would eventually be bought by Bahrain-based investment banking firm Investcorp for a reported $135 million.īy 1993, Gucci had sold his remaining stake in the fashion house to Investcorp for somewhere between $150 million and $200 million, putting an end to Gucci’s Italian ownership and making Maurizio Gucci a very wealthy man. He inherited a 50% stake after his father’s death, became the company’s chairman and began to consolidate his control. She complained on Storie Maledette that, in 1992, as she underwent surgery for a brain tumor, Gucci had not offered her any support.īut Gucci clearly cared for his role with the family business, where he had started to work at 15 in the package room. The death of his father changed her husband, she said, as he began to act as if he no longer had to care for anything or anyone. On another TV show, Harem, she said that a key moment that changed their relationship was the death of Rodolfo Gucci in 1983. She learned of the abandonment, she said, from a family doctor. ![]() Later, in an interview with the TV show Storie Maledette, Reggiani said Gucci had left her suddenly, departing for what was supposed to be a short business trip to Florence. But by the 1980s, Gucci had lost its appeal, becoming a tacky airport brand.The Gucci family in happier times (from left: Maurizio Gucci, Allegra Gucci, Alessandra Gucci and Patrizia Reggiani). "In the 1960s and 1970s," writes Vanity Fair editor Graydon Carter, "Gucci had been at the pinnacle of chic, thanks to icons such as Audrey Hepburn, Grace Kelly, and Jacqueline Onassis. The newly-made wholesaling business brought the once-exclusive brand to over a thousand stores in the United States alone with the GAC line, deteriorating the brand’s standing with fashionable customers. After a few years, the "Parfums section" started to sell better than the "Accessories section". The "Gucci Accessories Collection" was popular, but it brought the Gucci strength down. The Gucci cars had striped green, red, and buff material inside, as well as the Gucci's logos and outside color selections. Aldo relegated control of Parfums to his son Roberto in an effort to weaken Rodolfo’s control of the overall operations of the company.Īldo Gucci grew into new markets, such as an agreement with American Motors Corporation (AMC), so that in 1972 AMC Hornet small "Sportabout" car became one of the first American cars to give a special luxury made by a famous fashion designer. GAC sold small accessories, such as cosmetic bags, lighters, and pens, which were cheaper than the other items in the company’s accessories catalogue. In 1979, 'Aldo' made the 'Gucci Accessories Collection', or 'GAC', which was meant to increase sales for the Gucci Parfums sector, which his sons controlled. At the time, the brothers 'Aldo' and 'Rodolfo' controlled equal 50% shares of the company, but contributed less to the company than Guccio Gucci and all his sons did. Gucci stayed as one of the biggest luxury clothes companies in the world, until the late 1970s, when some bad business decisions and family arguments almost made the company bankrupt. At that time, the company also made its famous GG logo (Guccio Gucci's initials), and the Flora silk scarf (worn most by Hollywood actress Grace Kelly), and the "Jackie O shoulder" bag, which was made famous by Jacqueline Kennedy Onassis, the widow of U.S. Gucci decided to grow a lot in East Asia in the late 1960s, opening shops in Hong Kong (China), Tokyo (Japan), and Korea. Arguments about inheritances, stock holdings, and day-to-day operations of the shops often divided the family, and caused alliances to be made. Even in Gucci’s younger years, the family was well known for its arguments. After Guccio's death in 1953, Aldo helped lead the company to being a major fashion shop in more than one country, opening the company’s first small shops in London, Paris, and New York. Guccio Gucci's wife, Aida Calvelli had a large family, with six children, but only their sons (Vasco, Aldo, Ugo, and Rodolfo), not their daughters help lead the company. One of the many Gucci shops in Milan, Italy ![]()
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