The true story changed for House of Gucci is that he was gunned down over the steps of his office building, and it happened in Milan. In a 2004 interview, on the day he left Gucci for good, De Sole told WWD his expectations for the company were never that grand. From very little in 1994, Guccis communications expenditures advertising, mostly, and some public relations rose to $28 million in 1995, to $61 million in 1996, to $69 million in 1997 and exceeded $80 million last year. [6], De Sole and his wife Eleanore Leavitt De Sole live on Hilton Head Island in South Carolina. Having created an immensely valuable franchise out of ashes, De Sole is not likely to take orders from Arnault, five years his junior. He filed for bankruptcy in 1993 and died in London in 1995. The Gucci brand has since become Kerings largest, generating nearly 60 percent of revenues in 2020 with 7.44 billion euros in sales. Antonella Gugliersi (she/them) is a feature writer for Screen Rant. Domenico De Sole, former president and chief executive officer of Gucci Group, recalls the aftermath of Maurizio Gucci's death and his impact on the company. The pair, however, didnt first meet through a hotline phone call. Video: Do These Outrageous Celebrity Fashion Looks Hold Up? De Sole remembers the. She was also friends with Orlando, who had described the Gucci successor to her the previous night. Patrizia is defiant, and you can feel the disdain and bitterness shooting from Gagas teeth. Nemir Kirdar decided it was time to take some of his investors marbles off the table. The new House of Gucci movie tells the very real story of all the scandal, power, love, betrayal, and, yes, even murder that surrounded the Gucci family back in the day. In . A kind of virtuous cycle was begun. Things werent going well, and hed lash out at people. Following the private screening of "The House of Gucci," Domenico De Sole was kind enough to join the SCAD community by participating in a Q+A session. De Sole promptly promoted protg Tom Ford to Guccis head designer. The company wont announce its 1998 results until mid-February, 1999, but its a good bet theyll be strong:over $1 billion in revenues, at least $185 million (nearly $3 a share) in aftertax profits. The Weeknd responded to a Rolling Stone story claiming the show is a rape fantasy with a clip of his character calling the mag irrelevant. While Clark Gable did own a pair of rare Gucci shoes, made specifically for his film Mogambo, it did not have any gold leaf. Patrizia,along with Maurizio, met Pina in Ischia while on vacation. AMSTERDAM, Netherlands (Reuters) -- Gucci Chief Executive Domenico De Sole and designer Tom Ford, who built an almost bankrupt family firm into the world's number three luxury goods company, will . But in reality, Paolo wasnt manipulated into doing it. According to a recent story in the Hollywood Reporter, it was Pinault who gave the production permission to use the Gucci name and access to the companys archives. His brother Rodolfo retained a 40-year-old Harvard Law School-educated lawyer named Domenico De Sole to handle the case. For nearly two years the identity of his killer remained a mystery, and when it was revealed that his ex-wife Patrizia Reggiani had hired a hit man to finish him off, the scandal failed to taint the business. I had a unique opportunity to became president of Gucci America, where I represented one side of the family. Although by then Maurizio was on the verge of selling all of his shares to Investcorp and exiting the company, his legacy loomed large. Tall, thin, blond and comfortable in the world of the wealthy seemingly the opposite in every way of Patrizia Paola Franchi was Maurizios girlfriend during the last years of his life and was living with him at his vast palazzo on Milans luxurious Corso Venezia at the time of his death. Tom Ford and Domenico De Sole, credited with turning around the fortunes of the fashion house of Gucci, have said they will be leaving the company. Domenico De Sole, Self: Made You Look: A True Story About Fake Art. Somewhere in the multiverse of fashion, there is a branch of reality in which Tom Ford and Domenico De Sole never sold Gucci to PPR.They never bought Yves Saint Laurent or Bottega Veneta or Balenciaga; never left Kering; never started their own brand; and never sold that brand to Este Lauder for almost $3 billion. Related:Why Jared Leto's Character In House Of Gucci Went Too Far. This email will be used to sign into all New York sites. Cedric Magnelia, a luxury products analyst at Credit Suissse First Boston in London, thinks anything over $80 a share for the remaining stock would be too much for lvmh. With what? If you happened to catch the 2021 film House of Gucci starring Lady Gaga and Adam Driver, based on the dramatic real-life events of the Gucci family, then you also caught an interesting glimpse into the life of Domenico De Sole. Like in the movie, hefled to Saint Moritz before being imprisoned, but the true story is that he was the one who had been investigated by the authorities, not Patrizia. If the Gucci family era of ownership of the Gucci business might be seen as a Game of Thrones/Succession-style battle, the Italian-born, Harvard-educated attorney Domenico De Sole could be seen as the winner. It was sensational fin. This site is protected by reCAPTCHA and the Google Covering Rammsteins Du Hast in Berlin. She blamed Maurizio for abandoning her in 1985 and divorcing her six years later. Tom Ford and Domenico De Sole at their final show in 2004. A theory emerged that Patrizia Reggiani didnt want Maurizio marrying his girlfriend at the time, potentially diluting the inheritance she believed was their daughters birth right. De Sole can be seenat all the Gucci family functions, especially looking over Paolo and working closely with Rodolfo. Aldo Gucci passed away on January 19, 1990 at 84 years old. NYFW Fall 2023 Street Style Hair Trends: Unexpected Updos, The 20 Best Slouchy Bags That Exude Laid-BackStyle, NYFW Street Style Recap: The Fashion Crowd GoesGreen, Noah Cyrus Confidently Freed the Nipple in a Showstopping Mesh Look for Milan Fashion Week, Evanna Lynch Addresses J.K. Rowling Trans Controversy, Says the Author Advocates for Most Vulnerable Members of Society. Goes Out newsletter, with the week's best events, to help you explore and experience our city. One of the tax attorney's clients in the early 1980s was the famed Gucci design family. 2023 Vox Media, LLC. But many felt Ferrs sin lay in an unwillingness to kow-tow to Arnault. That was the reality.. We could piggyback the Gucci name on to the coverage of the fashion shows. 17-Down, Three Letters: Party for One artist Carly ___ Jepsen. It is based on the 2001 book The House of Gucci: A Sensational Story of Murder, Madness, Glamour, and Greed by Sara Gay Forden, itself based on real events. May 2, 2004 . On LVMHs side, its retailers among them Paris Bon March, and San Francisco-based DFS would get badly needed new products from the hot hand of Tom Ford. Using money whose source is something of a mystery (repeated calls to Bertelli went unanswered), last summer Bertelli quietly spent some $260 million to pick up nearly 6 million Gucci shares, 9.5% of the outstanding stock. Having since served on the boards of numerous other companies, De Sole currently lives in South Carolina. When asked if De Sole had been consulted about the movie, he simply said "no." When asked where reality ends and fiction begins, he replied, "When you take a story over 15-20 years and . We see the dynasty-splitting spats between Maurizios free-spending uncle Aldo (Al Pacino) and his offish cousin Paolo (Jared Leto) and, finally, Maurizios own bloody downfall. The real-life Maurizio did meet Patrizia by chance at a swinging disco birthday party thrown by his friend Vittoria Orlando on November 23, 1970. As Gucci began to disintegrate in early 1994, Investcorp bought the other half, bid ciao to Maurizio Gucci and a stroke of genius born of desperation . She was released from prison in October 2016. Despite Positive 2022, Puma Urges Caution for2023. Speaking on Letos depiction of her father, Paolos daughter Patrizia Gucci was quoted as saying, Horrible, horrible. Gucci now owns and operates 124 stores, twice as many as in 1995, and new ones are sprouting all the time in Milan, Vienna, Zurich, Hong Kong and Tokyo last year alone. While the stock market thought Asia would buffet Gucci, Patrizio Bertelli could see that De Sole and Ford had their ship in splendid trim. And Patrizia continued calling herself a Gucci. Memories of Maurizio faded and gave way to Guccis newfound popularity, and surging sales. [7], De Sole serves on the Boards of Pirelli and Ermenegildo Zegna. With such a peculiar cast of characters, to what degree is the films story true? She could have been released even earlier, but she turned down a work-release program, reportedly saying, I never worked a day in my life, and I dont intend to start now.. In the years since her release, Reggiani seemingly cant help but find her way back into the spotlight. gucci link to love bracelet. In actuality, the company was founded by Guccio Gucci, Maurizios grandfather. The first hour of House of Guccifocuses on Adam Driver's Mauriziobeing reluctant to deal with his family, who pushes him to be part of the company. By the time Maurizio Gucci was gunned down in the lobby of his Milan office on March 27, 1995, the company he knew and loved was already embarking on a new journey under Domenico De Sole and Tom Ford, and priming for the sort of success that would surpass Maurizios own big ambitions. We are not a retailing company, he booms. I had been very, very close to Maurizios father Rodolfo. The actor is known for films like Kill Your Darlings, American Hustle, Ben-Hur, the TV series Fargo, Boardwalk Empire, and The Irishman. In October 1997 De Sole took another big step toward building the Gucci brand when he agreed to pay $170 million for Switzerlands Severin Montres, the longtime supplier of Guccis watches. Maurizio's cousin Paolo's flamboyant fashion sense is matched by the wonderful pasha interior of his Porsche 924. The movie compresses and streamlines the story Patrizia and Maurizio had two daughters, not just one; Aldo Gucci had three sons, not just Paolo; Maurizio was shot four times, not just three with the book dedicating much more space to the business machinations and seemingly endless lawsuits the family members would file against one another. It unfortunately, however, did not happen. Beneath all the hoped-for synergies and public expressions of mutual admiration, however, it is hard to imagine that Arnault and the De Sole/Ford team could live very productively under one corporate roof. All Rights Reserved. Domenico De Sole was the former CEO of Gucci Group whose tenure brought the company out of near bankruptcy in the 1990s. In an interview with Vulture, Bentivegna revealed that he invented the revelatory scene. By submitting your email, you agree to our Terms and Privacy Policy and to receive email correspondence from us. In the movie, Patrizia calls psychic Pina Auriemma one night after seeing her on television. I think we caught everybody by surprise. It is said that the last spring collection under the direction of Ford and De Sole was a critical and commercial success for Gucci. Theres no way anybody else could have given him that shoe, except Maurizio. Two years ago Jacques Mouclier, the former chief of the French Federation Franaise de la Couture, the governing body of Gallic fashion, described Arnault to this reporter this way: Arnault tends to be a bit of a mode dictator. By that Mouclier meant that, in fashion matters, the lvmh chairman will countenance creative outburst, but no opposition on the management level. The GG logo whether it was real or knockoff, it was literally everywhere. But glaring gaps remain. The Fargo actor plays the current chairman of Tom Ford International, Domenico De Sole, who was previously the president and CEO of Gucci Group. While Maurizio's death had no impact on the new 1990s Gucci he had sold his shares to his then-minority partner Investcorp in 1993 it was still shocking for some. Its fitting that Ridley Scotts House of Gucci has a title card that reads inspired by the true story. The Gucci family themselves had long been careful mythmakers and shapers of the companys image. did domenico de sole betray gucci. Gucci could sell its goods through hundreds of lvmh outlets. On Jan. 19 Arnault bought another 6% of Gucci from Chicago-based Harris Associates Oakmark Select Fund. Gucci's success at selling an elaborately crafted fantasy of sex and wealth is . I knew her very well, and I always had a very good relationship with her. Now Hollywood Shuffle is a classic, Remember that Harry Styles Spitgate drama? I liked the idea that maybe she is a fraud, except for that one time when Maurizios shagging the femme fatale, Franchi, and Pina gets a real message, a real psychic connection, he told us. At a dinner party she asked her lawyer Cusimo Auletta: What would happen if I decided to teach Maurizio What if I decided to get rid of him? A lot of people at Gucci had known Maurizio since he was a kid, said De Sole, chairman of Tom Ford International and Sothebys, in an interview last week. In 1993, after Maurizio sold his 50% interest in Gucci to the same investment firm he had brought in to buy up his relatives shares, there would no longer be anyone from the Gucci family involved in running Gucci. Still, the award for spilling the most tea goes to Domenico De Sole and Santo Versace, who beyond acknowledging the potential Versace-Gucci merger of 1997, reveal that the idea of a merger was . Rather, its a very good invention by Leto and will probably become a mainstay pop-culture reference. After the death of Rodolfo in House of Gucci, lawyer Domenico de Sole (Jack Huston) can be seen talking with Maurizio and Patrizia about the inheritance. Arnaults French rival Franois Pinault rode in as Guccis white knight, and brought the company into what was then PPR, and is now known as Kering. De Sole remembers the. Hayek, who plays Auriemma in House of Gucci, is married to Franois-Henri Pinault, CEO of Kering, the luxury group that currently owns Gucci. monetary policy of nepal 2077/78 highlights. De Sole was appointed by Maurinzio Gucci as a legal adviser, president and managing director of the company of Gucci America. After secretly acquiring a 5%-plus stake in Gucci, Arnault in early January agreed to buy Bertellis Gucci stake for $398 million. We made it a business. T&C's Fireside Chat: Domenico De Sole. De Sole massively reduced huge amount of distribution channel and emphasized on strengthening the network of directly operated stores. As an Italian-born fashion mogul with a jet set lifestyle, it might seem unlikely that former Gucci CEO and current Tom Ford chairman Domenico De Sole would want to decamp to blue hair-friendly Hilton Head, S.C., but the sleek modern abode he and his wife built there is also highly dissimilar . In real life, though,De Sole had had the Gucci family as a client for years, helping them through their restructuring. Its a melodramatic tale about a family known for self-mythologizing; the Guccis kept the brands true origins secret for decades. Lady Gaga missed out on Best Actress, however, andHouse of Gucci did not rank among the films up for Best Picture, as seems to have been its intention. The legal disputes with the family company and in-fighting continued for many years after that betrayal. In House of Gucci, Patrizia and Maurizio goad a susceptible Paolo into betraying his father, and Paolo hands over evidence to the IRS concerning the companys shady dealings. At a March 1986 launch party in Rome, judicial police burst in to commandeer the collection, sending guests fleeing with Champagne glasses still in hand. We just want to dive into a pool without having to hold onto our bottoms. Maurizio was 22; Patrizia was 21. In 1993 Guccio Gucci SpA, whose supple loafers adorned some of the worlds wealthiest feet and whose distinctive handbags were draped over many a pampered shoulder, lost over $22 million on revenues of $230 million. New Lord of the Rings Movies Set at Warner Bros. Mark Wahlberg's $55 Million Mansion Sold to Buyer of Heather Dubrow's Newport Chateau. It was Maurizio, with backing from his then-minority shareholder Investcorp, who hired Dawn Mello, formerly president of Bergdorf Goodman, to revitalize the brand as its creative director. . During his time as Gucci's creative director, the company saw 1,200% growth in sales - nearly $3 billion, according to Forbes. 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