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Globalization of Gucci
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Globalization of Gucci.
Jacob Morris, Klay Murdock
This is a time line of all major events that are Gucci
History of Gucci
1921
Guccio Gucci founds Gucci and starts out selling high end leather goods and clothing
1935 -1936
Gucci forced to find alternatives to leather like tightly woven hemp,as Italy's imports are embargoed by the League of Nations due to their attacks on Ethiopia. They still integrate hemp into their clothing today
1938
Gucci opens their first store in Rome
1948
The production of leather products starts up once again after World War II. They also begin to use other materials such as pig skin and bamboo which was used for the handle of a variety of handbags
1953
The founder of Gucci, Guccio Gucci dies at the age of 72. He was worth about $20 million when he died. This happened 15 days after his store in New York opened
Gucci designs a flora scarf for Princess Grace of Monaco, which the design is later mass produced and made available to the public due to high demand
1966
Gucci launches its first fragrance line for women. They release only two fragrances for women called "Gucci No Eau de Parfum" and "Gucci No Parfum" which both are just french for Perfume. Very Creative.
1975
Investcorp acquires 50% of all Gucci shares, paying $170 million which in today's money is around $340 million
1989
Maurizio Gucci, the grandson of Guccio transfers his shares into InvestCorp. Maurizio was the last major stake holder in the family, ending the family's tie with the company.
1989
2011
Gucci celebrates its 90th anniversary
Manufacturing and HQ
Manufacturing and HQ
The original headquarters of Gucci was placed in Florence, Italy and has remained there since. Their products are also manufactured in Italy, in a small town called Prato where many leather goods are made. Or do they manufacture there?
Sweatshops?
Legal Obligations
Gucci also have factories in Japan and Germany, but many people suspect they have many sweatshops in China, and make every "employee" at the factories sign a contract saying they will not discuss what they work on or even who they work for. This way the workers are under legal obligation not to come out against the company. But this is all "speculation"
Not so Luxury?
Legal Loopholes
Another trick people suspect Gucci uses is a legal loophole in provenance laws. They'll make most of the clothing or hand bags or whatever in China and ship it over to Italy where workers put on the buttons of the shirt on or handle on the bag so it can say "Made in Italy" and sell it as a luxury good at a luxury price.
Primary Market
Market
Millennials make up 50% of their market, specifically the Upper-Middle class. 36% of all these sales are coming out of Europe, which is no surprise considering that is where they are based. 24% of sales are in North America and 21% in Asia and 10% in Australia, leaving the other 4% to the other continents. But something to note is that in the past three years North American sales have rose 64% and if continued could shift the main geographical demographic
Sales and Success
Sales Statistics
Gucci has been dominating the luxury clothing and accessories market and doing great sales wise. The first quarter of 2018 saw a massive revenue increase of 37% which is about $2.3 billion dollars. Some of this revenue increase is said to come from the rising demand out of China for luxury clothing and accessories
Home Country Demographic
Demographic
Gucci's country of origin is Italy which is a parliamentary republic with a population of about 62 million. And of those 62 million 99.2% are literate. Italians can expect to live 82.3 years at birth. Gucci claims to also produce their products in Italy. But something noteworthy is that the city they produce in has the 2nd largest Chinese population in Italy.
Collage
https://www.youtube.com/watch?v=J4gmxx227Tk