Gucci has always been a popular luxury brand that has catered to the rich and famous especially in the 1950s and 1960s. Jacqueline Kennedy Onassis popularized their Jackie bag in the 1970s. In the 1990s/2000s, Tom Ford revived life into the brand and Alessandro Michelle brought a new generation’s attention to it.
Gucci’s downfall sparking curiosity among fashion lovers
The brand, known for embracing maximalism and partnerships, faced declining sales and design direction under new creative chief Sabato De Sarno. Its heavy reliance on aspirational consumers, particularly in China, proved detrimental amid economic uncertainty.
Gucci’s recent struggles reflect a failure to adapt to changing consumer preferences including the recent major price increases, leaving it grappling with tumbling sales and a loss of market appeal. The brand has lost over 40% in market share in the last four years.
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