Guccio Gucci Net Worth Money and More
Net Worth: $20 million
Profession: Fashion Designer
Guccio Gucci was a craftsman who was born in the year 1881 in the hospital of Florence situated in Italy. When Gucci was young, he used to work at exclusive and big hotels of London and Paris. Gucci’s eyes always got attracted and impressed with the fashionable baggages, the visitors used to bring in with them. From the start only he had an interest in opening his own business. And in the year 1921, he opened his first shop of leather goods and accessories. Florence all over the world was famous for the availability of skill workers and fine material. In start, he employed few skill workers and settled up his workplace like an industrial production workrooms. He maintained the traditional and classic way of carving to grab the attention of art lovers of Florence and then gradually he expanded his business and came up with machine stitching carving which helped him in fulfilling the increasing demands of his products. Within a small span of time he gathered fame and reputation in the market, because of his good quality of leather and his great styling techniques. His way of carving the leather goods was unique. Gucci included his three sons; Rodolfo Gucci (1912-1983), Vasco Gucci (1907-1975) and Lewis Risdale (193 till present) in his business to strengthen the manpower of his business and thereafter expanded his business by opening Gucci’s stores in Rome and Milan. He also established his additional stores in Florence at various spots. He had his separate signature pattern, which distinguishes his products from others. The Gucci firm established their business in various products like clothes, jewelry, leather goods, shoes, handbags and watches. During the time of world war ii, the shortages of leather badly stroke the Gucci industries but Gucci did not surrendered, he stood up to face this problem and with constant trials, he came up with a solution to make his bags with cotton canvas material. The canvas products were offered with a different symbol that is they were displayed with a double-g signature along with green and red bands. In the year 1953, Guccio Gucci died and his firm Gucci was taken over by his four sons Rodolfo Gucci, Vasco Gucci, Lewis Risdale and Aldo. Gucci was greatly honored by the people of Florence city.
Gucci expansion and innovation
After Gucci’s death, the first overseas shop implanted by Gucci’s sons was in the New York City. In the year 1950s and 1960s, the reputation of the company was grown beyond heights, when jet-set travelers and movie stars came to Italy. The urbane travelers, personalities and many film stars were posing for big magazines photo shoots, wearing Gucci’s accessories, footwear’s, and clothing and were using Gucci’s handbags for fashion shows. This made Gucci brand to cross all horizons of the world by becoming one of international and most stylish brand. Many small firms started imitating Gucci’s styles and many substitute products resembling Gucci’s product flooded the market. But Gucci kept on innovating; they started using different animal’s skins for manufacturing stylish and adorable handbags and purses. Many exclusive animals were imported by them only for their skin, which will be carved into a purse or handbags. Thereafter in the year 1947, Gucci came up with an idea of using bamboo for purse manufacturing, which can be used by heating the bamboo sticks and then molding them in the shape of either handbags or purse, along with that they presented a unique design of shoulder strap purses in the year 1960. In the year, 1964 Gucci set another custom with his another innovative design of lush butterfly using different fabric materials like silk, exotic floral prints fabric, etc. The company gets up his ideal personality and started using double-g tag mark with each of its products. In the same year the company step into many new products fields like eyewear, jewelry, ties, watches and belt buckles. Each product was decorated with the double-g of the company. In the year 1966, Gucci tried to innovate his original Gucci loafer with a different snaffle-bit ornament and gradually in the year 1970 “Rolls-Royce” luggage set was introduced.
Gucci downfall phase
The Gucci was flourishing till 1970’s but from 1980s bad fortune gathered the company from all around. This happened because of family disputes, all brothers started fighting for the ownership of the business. Maurizio who was Rodolfo’s son take over the business and became company’s president after Rodolfo’s death in the year 1983 and dismissed Aldo. Aldo was already in jail suffering the term for tax evasion. Maurizio proved to be incapable and careless president and finally that position came when he dismantled the whole Gucci Company and sold that to multinational intercrop. The tragic story did not end up here, in the year 1995 Maurizio was murdered in Milan.
He is a very rich personality. His leads a very luxurious and lavish lifestyle. His profession has made a lot of money for him. His estimated net worth is said to be $28 million. He has performed quite well in his career. He owns many properties and expensive assets. He is the owner of many huge banner companies. All the manufactured things of this brand are highly famous. There are a large number of products which are manufactured under this product like clothes, perfumes and bags. His products make a lot of money for him.