For ages, fashion houses, like Gucci, Prada and Louis Vuitton, had been relying on their physical stores to serve their rich and famous clientele. On top of that, most luxury brands believed that e-commerce was more suitable for lower and mid-price products. It wasn’t until a McKinsey research showed that 80% of luxury sales are “digitally influenced” that the fashion houses started to change their strategy. Once they realised the majority of their customers were looking for online inspiration during or after purchasing a luxury item, Gucci knew it had to step up.
Italian brand Gucci was founded by leather craftsman Guccio Gucci in 1921 in Florence. Up until then, Guccio was renowned for his high-quality horseback riding accessories. He started designing lifestyle products after he got inspired by the wealthy upper-class guests, whilst he was working at the Savoy Hotel in London. Up until today Gucci designs are still strongly inspired by Guccio equestrian background and Italian craftmanship, but they are rather described as eclectic, contemporary and romantic. The brand has a rich history and the reputation for serving some of world’s most early-day influencers such as Jackie O., Grace Kelly and Audrey Hepburn.
Underneath is the business model canvas of Gucci before 2015.