In the last blog, we talked about Balenciaga and Kering. Here is the Link: https://liang.art.blog/2022/03/05/brand-analysis-balengiaga/
Kering also owns Gucci, and it’s the most profitable brand of Kering. So today, I’m trying to introduce Gucci.
Gucci is a high-end Italian luxury fashion brand based in Florence, Italy. Its product line includes handbags, ready-to-wear, footwear and accessories, cosmetics, fragrances, and home decor.
A glamour crafted by the founder, Guccio Gucci, who landed a job as a waiter at the famous Savoy Hotel in London in 1897. Famously, the story goes that the luxurious trunks and suitcases carried by the aristocrats staying at the hotel inspired him to create the company. As the original storyteller, Gucci associated the brand with luxury goods and the pastimes of these aristocrats, such as horseback riding – hence the brand’s signature horse-bit decorative element.
Gucci was founded in 1921 by Guccio Gucci in Florence, Tuscany. In 2013, the brand was valued at $12.1 billion with sales of $4.7 billion. In 2019, Gucci was ranked as the 30th most valuable brand on Forbes’ list of the world’s most valuable brands, with a brand value of $18.6 billion. According to Forbes, Gucci generated approximately $9.8 billion in revenue worldwide in 2019.
Gucci operates approximately 278 directly owned stores worldwide and wholesales its products through concessionaires and upscale department stores.
Since its inception, Gucci has been very aggressive in its marketing activities, including television commercials, print ads, and, more recently, a robust digital marketing effort.
Gucci has forged strong partnerships with Hollywood celebrities and social media influencers, working closely with these individuals to reach a broader demographic and re-establish its identity as a new, modern brand, even though it has been around for some time. The brand has changed its direction of working with celebrity types, and Gucci now offers clothing for contemporary style icons that resonate easily with millennials.
Gucci has worked closely with online celebrities and has converted many emerging Instagram users into stars of the luxury brand. These collaborations have proven successful because of the connection with opinion leaders who seek to influence the purchasing behavior of opinion seekers actively searching for information to help with their buying behavior and decisions. As research has found that consumers make purchases based on what they mean and see items as an extension of their sense of self, word-of-mouth marketing can influence the meaning of a brand and, therefore, the probability of purchase.
Since 2016, Gucci’s Internet presence has grown, with more people searching for the brand online. In 2017, the brand grew 115%, earning more than $61,798,514 in media value. In addition, the fashion house saw a 44.5% increase in revenue for the nine months ending September 30, 2017. This growth can be linked to the success of their digital marketing strategy, which has allowed the brand to integrate the digital world with the in-store experience and communicate with a wider target audience. Gucci’s web traffic grew by 130%, from 1.8 million website visits in January 2017 to 4.2 million in December 2017.
Gucci is a legendary brand. It reaches its centennial in 2021 through family feuds, takeover attempts, near bankruptcy, public offerings, and storybook turnarounds.
Liang 