Gucci is an Italian luxury fashion house founded in Florence in 1921 by Guccio Gucci. It is wholly owned by Kering SA (Euronext Paris: KER) and is Kering's largest brand, with revenue of about $6.78 billion (€6.0 billion) in 2025. Francesca Bellettini has been President and CEO since September 2025, and Demna has been artistic director since July 2025.
What Does Gucci Sell?
- Leather goods: handbags, luggage and small leather goods, including the Jackie 1961, Horsebit 1955, Bamboo 1947 and newer lines such as Borsetto and Paparazzo.
- Shoes: the Horsebit loafer (introduced in 1953), mules, heels and sneakers.
- Ready-to-wear: menswear and womenswear collections designed by Demna.
- Beauty and eyewear: fragrances and makeup licensed to Coty (moving to L'Oréal from mid-2027) and eyewear from Kering Eyewear.
How Does Gucci Make Money?
In 2025, 92% of Gucci revenue came from its own stores and e-commerce. The rest came from wholesale and licensing royalties. Gucci earned ~$1.09 billion (€966 million) of recurring operating income in 2025, a 16.1% margin, down from 21.0% in 2024.
Gucci Revenue by Year
- 2023: ~$11.2 billion (€9.87 billion)
- 2024: ~$8.64 billion (€7.65 billion) (-23% reported)
- 2025: ~$6.78 billion (€6.0 billion) (-22% reported, -19% comparable)
- H1 2026: ~$3.12 billion (€2,757 million) (-9% reported, -5% comparable)
Origins
Guccio Gucci worked at the Savoy Hotel in London before returning to Florence, where he opened a leather goods and luggage business in 1921. During wartime material shortages, Gucci developed the Bamboo handle bag (1947). His sons expanded the brand to Rome, Milan and New York, where Gucci opened in 1953.
From Family Feud to Kering
Family disputes and heavy licensing damaged the brand in the 1980s. Investcorp bought out the family by 1993, and CEO Domenico De Sole and creative director Tom Ford revived Gucci in the 1990s. In 1999, François Pinault's PPR took a stake of about 40% for roughly $3 billion, blocking LVMH. PPR, renamed Kering in 2013, took full control in 2004.
The Turnaround Under Bellettini and Demna
Alessandro Michele's maximalist era (2015-2022) took revenue above ~$11.3 billion (€10 billion), but sales then fell for three straight years. Sabato De Sarno left in February 2025, Demna joined in July 2025, and Francesca Bellettini replaced Stefano Cantino as CEO in September 2025. In Q2 2026, Gucci revenue was ~$1.59 billion (€1,410 million), down 2% on a comparable basis, its best trend in several quarters, helped by new collections, the Borsetto and Paparazzo bags and growth in North America.
