Gucci almost went bankrupt. Then a hitman saved them.

Gucci is crowned the most popular brand in the world throughout its 100-year history. It has been worn by royal first ladies and celebrities today. It is no longer exclusively for the elite and remains the ultimate status symbol. It all started with a dishwasher waiter and a bell on March 26, 1881. Guccio Gucci was born in Florence, Italy. His parents were humble merchants who made straw hats and they expected Guccio to take over, but when he turned 17 the business

went

bankrupt

and the family collapsed expelled from his home by his father

gucci

o boarded a freighter to england once he arrived at one of the most luxurious hotels in london the savoy welcomed him there he worked as a waiter dishwasher bellman and later as an elevator operator the job was It was considered a big deal as the hotel was the first in the world to have an electric elevator and gave Guccio the rare opportunity to observe his rich and famous guests up close.

He realized that everyone traveled with stylish bags and luggage that were more than just functional items: they were status symbols. He also discovered that they were obsessed with the idea. quality and cared very little about cost after a few years

gucci

o

saved

enough money to return to florence and start a new life he worked for an antique store he married a dressmaker named ida cavelli and started a family, but when the World War I Guccio was forced to leave home again and serve in the army. Fortunately he survived and returned to Florence when the war ended.

The city's economy was destroyed, but Guccio found work in a company specializing in quality leather products. The owner taught Guccio the basics of the trade. including how to work with different types of leather, Gucci learned quickly and was asked to open a new store in Rome as his manager, Ida, refused to leave Florence, so Gucci had no choice but to travel back and forth every time he came home. he opened his own store in florence one sunday more and more guccio and ida

went

for a walk in florence while walking down a narrow side street they saw a small store for rent ida encouraged guccio to take charge and pursue his dream of opening a store in the city with its blessing guccio did not hesitate and took out his savings and only from an acquaintance he called this store validuria guccio gucci but

then

shortened it to gucci the store offered leather bags and suitcases that guccio personally chose from suppliers in tuscany germany and england More often than not, Guccio was forced to commission unique pieces.

His experience in Savoy gave him a knack for spotting what wealthy tourists were likely to buy that their suppliers didn't carry. In the end, he got tired of depending on his suppliers and opened up. a workshop to make and repair his own products while they became popular with wealthy tourists and the local elite guccio struggled in secret his family and staff only discovered the truth after he could no longer hide his tears he looked like a man facing death phrase That one of

them

recalled, like many businessmen, Guccio struggled to make a profit during the first years of opening.

Suppliers who allowed him to buy products on credit demanded payment, and some customers did not pay what they owed. Guccio had no money to pay for his business. bills and had no choice but to give in to what he feared most unless a miracle occurred I can't stay open one more day Guccio admitted to his family and staff Guccio's future son-in-law couldn't stand to see him suffer as if he were facing a death sentence so he offered him a loan with the savings he had

saved

to marry his daughter Grimalda Guccio humbly accepted. In the following months he was able to pay the loan in full and hire a team of artisans each.

One was responsible for completing a product on one's own from start to finish, sometimes the process involved assembling 100 different pieces and took an average of 10 hours As Guccio's business and team grew, Italy's leadership changed several nations They imposed harsh sanctions on the country and Guccio could no longer buy all the leather he needed to prevent his store from closing for the second time. He took the risk of making new products first. He made bags and suitcases from both canvas and leather. Leather was only applied to the most used parts of the products. The corners. Clasps and Straps later expanded its product line with accessories including belts, wallets and shoes.

His moccasin was the first in the world to have a golden fillet. Meanwhile, one of Guccio's sons, Aldo, was thinking big. He had traveled all over Europe and discovered that many were interested in his family's products, why not bring

them

gucci? he thought to himself when he came up with the idea of ​​expanding to other cities. Guccio shot him down, he believed he was too risky and doubted they could get the money. Aldo was still convinced that it was a great opportunity and secretly asked his bank for a loan. Guccio eventually relented and opened a second store in Rome.

He turned out to be the family's savior when World War II broke out and Rome became an open city. Soldiers swarmed the store to buy anything they could send to their mothers, wives or girlfriends back home when the war ended. Guccio scrambled to secure loans from various banks to keep both stores open, and while he was short on supplies, his team continued making new, more exclusive products with what they had, including Bamboo manipulated into pigskin bags in the early 1950s. . Guccio had a third store in Milan. Meanwhile, his children Aldo Rodolfo and Vasco were far from home.

They secretly flew to New York to find a location for their first store in the United States with a bank loan of six thousand dollars. his pocket they set up shop in a small store just off fifth avenue when guccio found out through a telegram that he was furious come home immediately, crazy boys, he telegraphed his plans were nothing more than a reckless plan, but once more he gave in without knowing it. For his children it would become one of the last things he could do for them. A year later, the first American Guccio store opened in New York, making history as one of the first Italian brands to have its own store in the city and it was Known as one of Europe's most exclusive brands, royals and celebrities from around the world were fans, including Queen Elizabeth II, Princess Grace of Monaco, Jackie Kennedy, Sophia Lauren, Elizabeth Taylor and Katherine Hepburn.

It was clear that New York was just the beginning of a global expansion and that the gucci family had a lot to celebrate but two weeks after opening their store the celebrations stopped guccio fell dead of a heart attack while preparing to go to the cinema with ida in his will he left gucci in the hands of Aldo Rodolfo and Vasco Gormalda whose husband once saved the company from closure, they gave him nothing, tried to fight his brothers for a share of the company in court, but returned home empty-handed after the business Continuing as usual, Aldo focused on expanding Gucci abroad, Rodolfo managed his store in Milan and Vasco ran his factory in Florence.

Meanwhile, Gucci's reputation grew among the elite and it was all thanks to a product that Aldo once despised. and many called loafers bizarre when gucci launched them in new york stiletto heels were in fashion, but shortly after women realized the comfort and elegance that loafers offered eventually gucci loafers became an essential tool among men and, indeed, frank sinatra was known for having quite a collection over the next few years. Gucci continued to make its mark by opening dozens of stores around the world and expanding into clothing, perfumes and watches. It became widely known as a status symbol and unseemly untouchable until history repeated itself two years after Gucci launched Basque perfumes and watches.

He died of cancer, he had no children, so his share in Gucci was given to his widow María Aldo and Rodolfo bought it and divided the shares 50 50. Then Aldo divided 10 of his shares with his sons Giorgio Paulo and Roberto, meanwhile Rodolfo He refused to give a single share to his only son Maurizio while collectively the Soles had a small stake in the company. It was inevitable that they would have to step up Gucci's business that had increased 25-fold over the previous decade, but Jar Joe Apollo and Maurizio deviated from their commitments and even rebelled. Giorgio secretly opened his own shop using the family name.

Paulo founded his own brand and betrayed his father. for tax evasion and after Rodolfo's death, Maurizio was given half of the company and Aldo was fired from that moment on, Maurizio was hungry for even more power, he was convinced that the only way for that was It was possible if he bought out his family, but he didn't. He didn't have enough money and would need to find an investor. Bankers were intrigued by the idea, but were skeptical that a deal was possible because of all the family disputes. Fortunately, a private investment firm Invest Corps was crazy enough to take the risk. known in the financial world but had made a fortune saving and taking Tiffany and Co public two years after a deal was signed Maurizio successfully bought out his family but under his leadership Gucci's glory days were over and the company began to lose $30 million a year invest corp agreed to save the company under one condition maurizio had to leave maurizio defended himself but finally walked away two years later his body was found collapsed outside his office in milan his ex-wife patricia retchiani hired a

hitman

to assassinate him continuing the legacy of guccio now it was left in the hands of invest corp and its new creative director tom ford tom replaced gucci's grunge style with glamor and shortly after hollywood became gucci, from

then

on he created essential pieces every season, his bold designs led gucci to record profits of more than a billion dollars a year and two successful IPOs today gucci is worth more than 17 billion dollars and crowns the most popular luxury brand and fastest growing in the world.

It's also favored among millennials and teens thanks in part to bringing in a stranger. This is the story of how a dishwasher was built. a billion-dollar luxury brand that survived a series of wartime

bankrupt

cies and family disputes. If you are interested in watching the second part about the outsider who made Gucci even more popular, please like and subscribe to our channel.