Gucci was founded in Florence, Italy in 1921 as a leather goods manufacturer and has since risen to become one of the most glamorous and prestigious luxury brands worldwide. The global personal luxury goods market, of which Gucci is a major player, has grown in value substantially in recent years, rising from 147 billion euros in 2009 to 281 billion euros in 2019. In 2020, with the impact of the pandemic and the lockdown measures, the personal luxury goods market underwent a significant decline, but bounced back in 2021. One third of the market value is attributed to sales of accessories, such as luxury watches or handbags.
Gucci is recognized as one of the strongest luxury brands by various brand measurement trackers. Since 2018, the Gucci brand displayed continuous upward trend worldwide according to Brand IPX index. In Italy, the brand's home country, Gucci was the leading brand with the highest performance in the global fashion economy. Gucci's success as a brand extended beyond financial performance. The brand ranked in first place in terms of its media impact value, which measures a brand's value in the (social) media sphere based on metrics like audience engagement, industry relevance, and content quality.
Gucci's global brand image is controlled by its creative director Alessandro Michele, whose Aria Collection in 2021 featured an NFT.
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