First things first Maurizio fired Aldo , removing the man who had helped shape the company over the last fifty years , but he was not a shrewd businessman in fact , he was downright awful for Gucci and in 1988 with the company in a negative of $ 17.3 million along with a personal debt of more than $ 40 million Maurizio sold a controlling stake in the brand to Bahraini holding company Investcorp thus bringing an end to the Gucci family ’ s stake in the business .
Immediately Investcorp sought to turn the ailing fashion house around and restore it to its former glory , Dawn Mello , president of Bergdorf Goodman , was appointed creative director of Gucci who with her Richard Lambertson , Neil Barrett and Tom Ford who is credited as being instrumental in helping to restore Gucci ’ s reputation with his fresh approach and ready-to-wear-collections it is said that the Tom Ford era was tremendously influential , both for the Florentine brand , and for luxury menswear as a whole .
While Gucci ’ s fortunes seemingly began to rise from the ashes the same could not be said for Maurizio , in 1995 he was tragically gunned down in Milan by a hitman hired by his ex-wife Patrizia – the focal point of the new Ridley Scott ’ s film the “ House of Gucci ” starring Lady Gaga , Adam Driver , Al Pacino , Jeremy Irons .
Today Gucci ’ s international appeal still continues to grow , the rise of Asia ’ s upper-middle class and their insatiable need for designer goods means that Gucci still continues to maintain its n º 1 spot in the luxury market .
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