Gucci expanded overseas, board meetings about the company’s future often ended with tempers flaring and luggage and purses flying. Gucci targeted the Far East for further expansion in the late 1960s, opening stores in Hong Kong and Tokyo. At that time, the company also developed its famous GG logo (Guccio Gucci's initials), the Flora silk scarf (worn prominently by Hollywood actress Grace Kelly), and the Jackie O shoulder bag, made famous by Jackie Kennedy, the wife of U.S. President John F. Kennedy.
4 Gucci remained one of the premier luxury goods establishments in the world until the late 1970s, when a series of disastrous business decisions and family quarrels brought the company to the verge of bankruptcy. At the time, brothers Aldo and Rodolfo controlled equal 50% shares of the company, though Rodolfo contributed less to the company than Aldo and his sons did. In 1979, Aldo developed the Gucci Accessories Collection, or GAC, intended to bolster the sales for the Gucci Perfumes sector, which his sons controlled. GAC consisted of small accessories, such as cosmetic bags, lighters, and pens,football Jerseys, which were priced at considerably lower points than the other items in the company’s accessories catalogue. Aldo relegated control of Perfumes to his son Roberto in an effort to weaken Rodolfo’s control of the overall operations of the company.
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2009-12-7 1:1:25
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