“The way you dress is really the way you feel, the way you live, what you read, your choices. That’s what I want to put into Gucci.” – Alessandro Michele
Most people across the globe have heard about Gucci, the iconic Italian brand that manufactures high-end, ridiculously expensive clothing, shoes, and accessories. And, the accompanying question must be: Is it worth paying top dollar for the brand’s epochal fashionable outerwear, including Gucci women’s shoes.
Gucci: The history directs the future
By way of answering this question, let’s look at Gucci’s origins, raison d’etre, how it plans to navigate its way through the post-modern world we live in, and how the brand plans to embrace the technical advancements of the Fourth Industrial Revolution.
According to www.highsnobiety.com, Gucci was founded in 1921 by Guccio Gucci. If we calculate the length of time the business has been in operation, it’s two years short of a century: ninety-eight years. Thus, it is one of the oldest Italian, and global, brands that is still operating today.
Clearly, the founders and current owners have found the recipe to keep their brand alive in today’s world of eCommerce, mass production, and grey market counterfeit goods.
Interestingly enough, the brand started as a luxury luggage manufacturer and a manufacturer of equestrian equipment like riding saddles, riding boots, and horse bridles. They then branched out into the manufacture of leather goods including handbags, men’s and women’s shoes, silk clothing, and luxurious knitwear.
The role that the Second World War played in forcing the brand to move directly from the use of luxury raw materials to the use of cotton, as a cheaper raw material, for the manufacture of its goods must not be underestimated. This was a watershed moment for the brand. And, in the 1950s, Gucci achieved most of its success through its sales to wealthy travelers, Hollywood stars, and sundry shoppers who were known for their extravagant purchases.
Additionally, it is vital to note that, at this juncture, even though Gucci was an Italian brand, manufactured and sold in Italy, the 1950s provided the initial pointers or led the way from Gucci as a local Italian label towards the global name that it has become and continues to be.
Gucci remained exclusively a family business until the 1980s. When Guccio Gucci passed away in 1953, the control of the company was passed to his three sons: Aldo, Rodolfo, and Vasco.
The company went through a tumultuous time between 1983 and the early 1990s. Rodolfo Gucci’s son, Maurizio took over from his father. Consequently, family feuds, assassinations, and tax evasion charges were brought against the family. Eventually, the company was sold to foreign investors with Tom Ford, Frida Giannini, and finally, Alessandro Michele took over the roles of creative directors respectively.
However, it was only during Alessandro Michele’s tenure that the brand returned to its roots and reputation as a classy, extravagant, and opulent fashion label. Thus, the “well-heeled clientele” and high-profile people like Lewis Hamilton, a top Formula 1 racing car driver, have returned and through their purchases once again, sworn their allegiance to the brand.
In fact, Lewis Hamilton once stated: “I think my [fashion] style is definitely urban chic. I love mixing street style with the high-end luxury brands, like Gucci, for example. Quite fun.” Not only does this statement show Hamilton’s personal style, but it is also a positive endorsement of the fashion label. And, once again these statements show that Gucci is over the worst and is once again one of the “go-to” fashion labels.
Gucci: The statistics endorse the facts
It is always a simple matter to make broad sweeping statements about a brand or product. However, an age-old, but relevant, adage states that the “proof of the pudding is in the eating.”
On 13 August 2019, Liam O’Connell published an article on www.statista.com, highlighting the fact that the global luxury goods retail sector was worth circa 260 Billion Euros in 2018. In just over nine years, this sector grew from 147 Billion Euros. Gucci, the brand is responsible for 60% of the 2018 global sales figures.
Therefore, in closing, these statistics provide the evidence that Gucci, the brand, is considered a world-class brand, and under the current challenging global economic circumstances, the brand is likely to retain its market share. And it is reasonable to assume that Gucci will continue to gain traction in the worldwide luxury goods’ retail industry.
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