Site Loader

Gucci is an Italian luxury fashion brand and leather goods company under the French parent company Kering. Kering owns several other luxury brands including Yves Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta, Boucheron, and Brioni, as well as the more casual brands Puma and Volcom.  Founded in Florence, Italy by Guccio Gucci in 1921, Gucci quickly became one of the world’s most famous luxury fashion brands by the end of the 19th century. Gucci currently has more than 550 locations all around the world, raking in 4.2 billion Euros or approximately $4.7 billion in revenue and was previously ranked number 41 on the “Top Global 100 Brands” list created by Interbrand, a company that specializes in brand strategy, brand analytics, brand value, and more. Gucci also previously ranked number 1 as Fashion’s Hottest Brands and Top Selling Products during the first and second quarters of 2017, however was recently topped by its sister company Balenciaga at number 1 in the third quarter. In 2015, Gucci ranked number 38 on Forbes World’s Most Valuable Brand list.Guccio Gucci, born in 1881 founded his company in 1921 in Florence, Italy. During his years working as a hotel worker in Paris and London, Guccio Gucci was intrigued by the luxurious bags and luggage that he saw guests bringing with them. When he returned to Florence in 1920, he established his first leather goods shop. Gucci and three of his sons, Aldo Gucci, Vasco Gucci, and Rodolfo Gucci, quickly established more shops and expanded through Florence and into the cities of Milan and Rome. In 1953, Aldo and Rodolfo Gucci expanded internationally and set up stores in New York City, During the 1950’s and 1960’s famous celebrities were seen wearing Gucci designs in magazines all around the world, allowing the company to gain great international success. The company went through many changes in direction from family members to outside companies due to internal family disputes. After Rodolfo passed away in 1983, his son, Maurizio Gucci, took over the company and proceeded to fire his uncle Aldo. Maurizio failed to be a successful president causing the company to experience great losses and brought it to the edge of bankruptcy. The company was eventually sold to a Bahraini– a small archipelago country in the Middle East between the countries of Qatar and Saudi Arabia– company called Investcorp in 1988 and hired Dawn Mello as editor and ready-to-wear designer. Dawn Mello had already been famous in the retail business thanks to her successful revival of New York company Bergdorf Goodman in the 1970s. In order to reestablish the brand’s reputation, Dawn Mello hired Tom Ford, a young designer who chose to pursue his career after dropping out of Parsons School of Design as an archeology major, to design a ready-to-wear line in 1990 and was quickly promoted to creative director in 1994. Mello moved Gucci’s headquarters from Milan back to Florence, where it originated, before returning to her previous position as president of the American retailer Bergdorf Goodman, leaving Icelandic fashion designer Steinunn Sigurdardóttir as Director and Senior Designer and hiring Italian businessman and formel lawyer Domenico De Sole as the new president of Gucci America.In 1995, Gucci had its first public offering on the AMEX and NYSE for $22 per share, and by 1997, Gucci had 67 established stores around the world. Ford and De Sole successfully acquired Yves Saint Laurent, Bottega Veneta, Boucheron, Sergio Rossi, and part-ownership of Alexander McQueen, and Balenciaga. The European Business Press Federation named Gucci as “European Company of the Year 1998” for their outstanding economic and financial performance, strategic vision, and high quality management. Gucci also was recognized by the Guinness World Records 1998 for their “Genius Jeans” which were cited as the most expensive pair of jeans in existence at a price of $3,134 in Milan, however the record was surpassed in 2005. In 2003, De Dole approached French company Pinault-Printemps-Redoute (PPR) about creating an alliance which led to PPR purchasing 37 million shares and therefore gaining ownership of 40 percent of Gucci’s stock and by 2004 Domenico De Sole and Tom Ford both parted ways with Gucci once their contracts ended, being replaced by a group of three young designers, John Ray, Alessandra Facchinetti, and Frida Giannini. Facchinetti designed two seasons as Creative Director of Women’s Wear in 2004 before leaving the company. Ray acted as Creative Director of Menswear for three years. Frida Giannini, who joined the company in 2002, was promoted to creative director for women’s ready-to-wear and accessories in 2005 and also the creative director for men’s ready-to-wear and the entire Gucci label in 2006. However, in 2014 Frida Giannini left the company and Marco Bizzarri was hired as the CEO of Gucci. Susan Chokachi, previously served as Senior Vice President of Marketing and Communication, was promoted to President and CEO of Gucci America in April 2016 and in January 2015, Italian fashion designer, Alessandro Michele was hired as Gucci’s creative director.Alessandro Michele, born in 1972 in Rome, Italy, studied costume design at Accademia di Costume e di Moda in Rome, Italy. He grew up in a creative environment thanks to his mother’s love for cinema and his father’s love for sculpture. He began his career with Les Copains, an Italian knitwear brand. Later, he was hired to work at luxury fashion brand Fendi, under Karl Lagerfeld and Silvia Venturini Fendi, the creative directors of the company. Michele’s designs and notable success was noticed by Tom Ford and was promptly hired to design handbags for Gucci in 2002 which lead to him being promoted to his current position. His originality was quickly recognized and rewarded with the International Designer Award by the British Fashion Awards in 2015 and 2016 as well as the CFDA (Council of Fashion Designers of America) International Award and the Green Award in 2017.Gucci’s company mission is to become the leader in the global luxury fashion market. According to the official Gucci website, Gucci is reinventing a wholly modern approach to fashion. Under the new vision of creative director Alessandro Michele, the House has redefined luxury for the 21st century, further reinforcing its position as one of the world’s most desirable fashion houses. Eclectic, contemporary, romantic—Gucci products represent the pinnacle of Italian craftsmanship and are unsurpassed for their quality and attention to detail. Gucci is part of the Kering Group, a world leader in apparel and accessories that owns a portfolio of powerful luxury and sport and lifestyle brands.Gucci is committed to being a progressive leader in the luxury fashion world. In order to strengthen their influence, they’ve implemented a “Social and Environmental Responsibility Management System”. Gucci is dedicated to operating their company in a manner that created value for stakeholders through respect for people, the environment, and society as a whole, while strategically using resources in a way that is not and will not be harmful to future generations. Gucci as a company makes sure to maintain a responsible attitude towards people, the environment, and the community while still creating and producing the highest of quality products.     One of Gucci’s main core values is Corporate Social Responsibility. This is the company’s initiative to take responsibility for the effects of the company on the wellbeing of the environment and of society. The company has made a serious effort to go beyond the regulations already implemented by regulators and environmental protection groups. Gucci has a strategy in which they integrate ethical, social, environmental, human rights, and consumer concerns into their everyday business operations. The company as a whole is committed to creating and maintaining the best experience for everyone working with them including employees, customers, local communities, shareholders, financial partners, commercial partners, suppliers, subcontractors, institutions, trade unions, trade associations, and more. They do this by promoting their Social and Environmental Responsibility Policy. This policy values aspects such as business ethics, respect for human rights, and much more.    Gucci’s value for ethical business practice is dedicated to handling all business with integrity, fairness, transparency, honesty, and to fully comply with all laws and regulations implemented. Their respect for human rights goes hand in hand with their policies for promoting a quality working environment. Rejection of any and all form of child labor, forced labor, and discrimination enables the company to ensure that each and every worker has the same opportunities for employment and career development. All employees receive equal and fair treatment. Career development and promotional opportunities is based on merit. Gucci is active in their company’s promotion and strict compliance of the health and safety standards of workers and communities in which it operates, as a precaution for preventing accidents and sickness while simultaneously helping to improve people’s physical as well as mental health. The company also takes into consideration the importance of balance between private life and professional life.     Gucci makes a serious effort to develop and improve each worker’s professional skills and attributes as well as competencies. The company makes it a priority to acknowledge each individual’s potential and creativity in a professional aspect. Diversity is another important value to the company. Respect for all cultures, religions, ethnic groups, traditions, and communities as well as preservation of the environment, social, economic, and cultural identities plays a huge role in the company’s set values.     Promotion, protection, and improvement of socio-economic development of local, national, and international communities by creating opportunity for development and growth of skills and craftsmanship by sharing knowledge and creating philanthropic initiatives is a priority for the company. Gucci believes that protection of the environment and reduction of negative impact on the environment is fundamental the the preservation of the planet and the present and future inhabitants of the planet. Gucci reduced its contribution to environmental impact by focusing on their usage of water and energy, waste production, production of hazardous chemicals, and the sustainability and usage of raw materials. The company makes an effort to observe and evaluate the direct and indirect social, economic, and environmental impacts that their company produces and uses these observations to implement improvement and development for the surrounding people and environment.     Respect and commitment to stakeholders is another priority for the company. Developing a fair and clear relationship with stakeholders as well as acknowledging that they are an important asset to the company is key. Company development and progress depends heavily on the cooperation and partnership with outside organizations at a national and international level. Gucci does not abandon their company morals and values in order to gain profit or recognition. Compliance with rules and regulations as well as a requirement for all suppliers and subcontractors to comply with the company’s set values and morals is vital.    Gucci’s care for customer satisfaction is implemented by focusing on the highest quality craftsmanship, safety standards, and sustainability in their products and guaranteeing high quality customer service and easily accessible communication with the company while maintaining constant attentiveness to their needs.     Gucci products currently available for sale online include handbags, wallets, accessories, shoes, luggage, jewelry, watches, gifts, ready to wear, home collection items, and beauty products including makeup, cologne, and perfumes. All Gucci products are made in Italy, except for fragrances, which are made in the EU, and timepieces (watches), which are made in Switzerland.     Since 2005, Gucci has been in a partnership with UNICEF. UNICEF or the United Nation’s Children’s Fund is a United Nations program that “provides humanitarian and developmental assistance to children and mothers in developing countries”. Gucci donates a percentage of all sales from special collections made specifically for UNICEF. The annual Gucci Campaign to Benefit UNICEF supports education, healthcare, protection and clean water programs for orphans and children affected by HIV/AIDS in sub-Saharan Africa. In five years, Gucci donated over $7 million to UNICEF. Gucci is the largest corporate donor to UNICEF’s “Schools for Africa” that was established in 2004 by UNICEF, the Nelson Mandela Foundation, and the Hamburg Society. Its goal is to increase access to basic schooling for all, with a special emphasis on children orphaned by HIV/AIDS and children living in extreme poverty. Gucci also participates in the “Chime for Change” campaign, which launched in February 2013. The “Chime for Change” goal is to further the global movement for women’s and girl’s empowerment. Gucci has funded over 210 projects in 81 countries worldwide through this campaign. In 2013, famous singer Beyoncé Knowles and Mexican-American actress Salma Hayek would work with previous creative director Frida Giannini on a campaign that’s main goal was to further the empowerment of females. A concert for this campaign took place on June 1, 2013 in London. The concert featured artists such as Beyoncé, Ellie Goulding, Laura Pausini, florence and the Machine, Iggy Azalea, and Rita Ora. The concert raised over $130,000 for the campaign. In 2013, street artist and activist Lydia Emily was commissioned to paint a mural on Skid Row, Los Angeles. Skid Row is an area in Downtown Los Angeles which contains one of the largest stable populations of homeless people in the United States of between 5,000 and 8,000 people. The mural was of a woman named Jessica who is a survivor of human trafficking. Jessica currently works for the Mary Magdalene Project which is an organization that focuses on helping women escape the sex industry since 1980.

Post Author: admin

x

Hi!
I'm Matt!

Would you like to get a custom essay? How about receiving a customized one?

Check it out