Maurizio Gucci was blamed for spending extravagantly on the company's headquarters in Florence and Milan. He went on to sell his remaining company stock in 1993 for $170 million to Investcorp, ending the Gucci family's association with the company.
Maurizio was made chairman of Gucci in 1989, however he sold his remaining stocks for $170 million to Investcorp in 1993 after the company's finances were in the red from his leadership. The sale ended the Gucci family's association with Gucci.
In 1993, after Maurizio sold his 50% interest in Gucci to the same investment firm he had brought in to buy up his relatives' shares, there would no longer be anyone from the Gucci family involved in running Gucci. He was murdered on the steps of his office building in Milan on March 27, 1995.
Following Guccio's death in 1953, shares of the business were left to his three biological sons, Vasco, Rodolfo and Aldo. Looming sibling rivalries between the brothers turned into full-on feuds that continued into the next generation, which helped lead to the downfall of the Gucci family in the fashion industry.
Yes, the Gucci family does still have a stake in the famous fashion luxury brand Gucci. The family was the original founders of Gucci back in 1921 in Florence, Italy and they have kept ownership and control of the company ever since.
Artémis is the investment company of the Pinault family. Founded in 1992 by François Pinault, Artémis is the leading shareholder in Kering, which owns Gucci. The Kering Group generated over €20 billion in revenue in 2022, and Gucci was the leading brand, with revenue of €10.5 billion.
From 1991 to 1993, Gucci's finances were in the red. Maurizio Gucci was blamed for spending extravagantly on the company's headquarters in Florence and Milan. He went on to sell his remaining company stock in 1993 for $170 million to Investcorp, ending the Gucci family's association with the company.
Paolo died in poverty in London in 1995, having burned his way through the $42 million dollars he received for his Gucci shares.
Gucci is owned by the French holding company Kering, which purchased an $8.8 billion stake in the iconic Italian fashion brand in 2004. Artémis, the investment firm of the Pinault family led by François Pinault, is Kering's leading shareholder and holds a majority share in the company through its parent organization.
In 1986, Aldo was sentenced to one year and one day in prison for tax evasion. In 1987, Paolo sold all his shares in Gucci to Investcorp for $42.5 million. Due to spending extravagant amounts of money and bad business decisions, he filed for bankruptcy in 1993.
No, Paola Franchi did not inherit money, but she has certainly become a very successful businesswoman in her own right. Franchi is an Italian entrepreneur and fashion designer who started out as a small shop manager in the late 1950s.
By the time Maurizio Gucci was gunned down in the lobby of his Milan office on March 27, 1995, the company he knew and loved was already embarking on a new journey under Domenico De Sole and Tom Ford, and priming for the sort of success that would surpass Maurizio's own big ambitions.
Corporate structure. Gucci's holding company Guccio Gucci S.p.A. is based in Florence, Italy, and is a subsidiary of the French luxury group Kering.
In the late 1980s a Bahranian investment company called Investcorp acquired 50% of Gucci. In 1994 Investcorp acquired the other 50%. In total Investcorp paid $400 million for its 100% stake.
But, not long after he won the battle, Paolo sold his interest in the company for a whopping $45 million. Then, in 1993, the businessman declared bankruptcy, claiming debts of $90 million. Paolo died in 1995 at age 64 from chronic hepatitis.
In January 1986, Aldo Gucci was sentenced to one year and one day in prison for tax evasion, evading $7 million in New York.
Most curious might be the life of Maurizio's daughter, Alessandra Gucci, who inherited her father's US$400 million estate along with her sister Allegra.
Investcorp acquires nearly a 50% stake in Gucci, the rest of the shares are held by Aldo's son Roberto (about 2%) and Maurizio (about 48%).
Mauricio also told Worth that his first real estate job was at a boutique firm in Beverly Hills that is co-owned by his brother-in-law, Rick Hilton, called Hilton & Hyland. "I earned over $200,000 in commissions. I became their number-one agent and was for eight or nine years straight.
Women's Roles in Gucci
In reality, Guccio Gucci had five sons and one daughter named Grimalda. Grimalda spent years working for Gucci; however, upon her father's death all of her brothers were given a share of the Gucci inheritance, and she was left out.
“Oscar-nominated actor, director, and producer Elliot Page stars alongside A$AP Rocky and Julia Garner in the new Gucci Guilty campaign.
Why Does Gucci Have a Bee Logo? Image: Gucci. The bumblebee made its first appearance for Gucci in the 70s and was used in Michele's debut women's Fall-Winter collection in 2015. The humble worker bee has appeared in family crests, paintings and tapestries for centuries and is "a sign of nobility in Europe."
When French fashion billionaire François Pinault, who founded luxury group Kering, acquired Gucci, Ford left and started his own label, Tom Ford, in 2005. With the acquisition of his fashion brand by Estée Lauder, Ford is now a billionaire, according to Forbes.