Business origin stories that'll make you want to run through a brick wall. Released every Monday, Wednesday, and Friday. Enjoy.
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Guccio Gucci (what a name) was born in Florence, Tuscany in 1881. In his late teens, he moved to London to work at the famed Savoy Hotel. The fancy luggage caught his eye. Over time, he developed a taste for high quality leather products. Then he thought to himself, “Why not me?”...  He went back to Italy. He and his father, a seasoned craftsman, began working on creating saddles and bags. Eventually, he opened up his own retail store: “House of Gucci” (awesome name for a business). Next thing you know, he gets tired of working with suppliers, so he opens a workshop next door employing the best designers and leather crafters in the area. The Gucci empire was born. But in the first couple years, he found himself strapped for cash. Lucky for him, his future son-in-law had some Benjamins laying around. Guccio received a loan from his daughter’s fiancé (Want to marry my daughter? It’s gonna cost you). Within a short period of time, Guccio payed back the loan, and even opened two new locations. By the time Gucci opened their first location in the US with New York, Grandpa Gucci died of a heart attack (R.I.P). Over time, the company was handed down through the family. Loafers flew off the shelves. The famous “GG” logo went international. It became a sign of money and status. The brand spread like wildfire. Eventually, the Gucci grandchildren are gifted the company. Big problem—they have bad blood. Maurizio, one of the grandchildren, goes behind his family’s back and tries to buy a controlling stake in the company. Legal battles ensue. Eventually, Maurizio gets funding, forces the rest of his family out, and gains control of the company. With Maurizio as top dog, the company starts losing millions per year. He’s forced to sell his stake in the company to an investment firm. The firm ousts Maurizio, hires out, and promotes from within. From there, Gucci flourishes, and has turns into the company we know today (it’s valued at almost $20 billy). But—plot twist—a year after Maurizio sold the company, he got popped. That’s right. Shot dead. Turns out, his ex-wife had hired a hitman to kill him (obviously, the Gucci family had a great family dynamic. Also, Lady Gaga and Adam Driver are making a movie out of this. It’s being released later this year). **Read more using these resources: this article, this video, and this article **Read more FS Stories here. If you liked reading this article, you might also like The Wedge: a quick-to-read weekly e-mail newsletter with awesome business stories that'll increase your creativity and resourcefulness just by reading them. Learn more and sign up here. Comments are closed.
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