SBM Paper: The House of Gucci in 2022
Abstract: “You smell that? Smell that. This is legacy.” - Aldo Gucci [Al Pacino, The House of Gucci] Recently, the movie ‘House of Gucci’ was released revolving around the dark twists and turns that the brand Gucci went through internally. Including the rise and fall of the Gucci dynasty, from betrayal to murder. While based on actual events, the movie is heavily dramatized. While it is certainly entertaining to indulge in this thriller regarding the various family feuds, Gucci also has a rich history, albeit less exciting than a murder case, of brand (mis)management. From a marketing and branding perspective, the brand is just as interesting, if not even more interesting. Gucci went through hoops to land itself as the established heritage brand it is perceived as today. Not only that, but Gucci also managed to go from rock bottom to evolving their heritage brand while simultaneously successfully establishing itself in pop culture while staying true to their brand essence. Something that had not always been self-evident when in the 10’s straying away from its very core caused a great crisis for the brand on multiple levels. Gucci, in the past extremely laser-focused on retaining their long-standing clientele of the most affluent consumers, almost lost it all due to not understanding the evolving brandscape. This case dissects the management and mismanagement decisions of Gucci, and how they managed to get on top in the end.
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