For decades Gucci and Louis Vuitton dominated the luxury accessory markets. Their bags and shoes were status symbols, sported by celebrities and royalty around the globe. But by the 1970s both companies were struggling. Louis Vuitton was being run by the great-grandsons of the company’s founder. They were risk-averse, unwilling to make any changes. And the heirs of the founder of Gucci were fighting over the direction of the business. Maurizio Gucci, the founder’s grandson,can’t get his family on board with his vision, leaving the company stagnant.
But when both companies get new leaders, these family-run companies are poised to become global mega-brands… and the two businesses are now on a collision course in their quest to become the largest luxury accessory brands in the world.
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