GUCCI HANDBAGS - Page 3 - History
In the early 1990s, Gucci went through the poorest time in the company’s history. Due to several wrong decisions, the company experienced heavy losses and, once again, almost went bankrupt. Although Maurizio Gucci loved the family’s business dearly and had noble intentions, he was clearly incapable of leading the company. In 1993, he was forced to sell his shares to Investcorp. Dawn Mellow left a year after Maurizio Gucci’s departure and the position of creative director went to 32 year old Tom Ford.
Ford took Gucci’s image towards a new direction. If he was unable to do that under the direction of Maurizio Gucci and Mellow, Ford was finally given the free rein under the supervision of De Sole. De Sole, now CEO of Gucci, realized that Gucci needed a new image if it were to become a profitable company once again.
Thus, in 1995 the world saw a new Gucci. With a hip, trendy and bold new image, Gucci products were once again donned by the rich and famous such as Madonna and Gwyneth Paltrow. It was also in this year that Gucci Group became a publicly traded company, with listings on the New York and Amsterdam stock exchanges.
Since then, Gucci has continued to prosper as an influential element in the fashion industry and a highly profitable business operation. The European Business Press Federation named The Gucci brand as the “European company of the Year 1998” for its economic and financial performance, strategic vision and management quality. Finally, Tom Ford left Gucci in 2004, together with De Sole. After much shuffling, the company is now headed by Frida Giannini and John Ray.
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