Since fluctuating wildly in the late Nineties, Gucci Group shares have traded within a fairly narrow range regardless of external events or company performance. Here are some of the principal events during that time span:
This story first appeared in the November 5, 2003 issue of WWD. Subscribe Today.
1) September 1997: Shares are halved by fears of drop-off in tourism sparked by Asian financial crisis.
2) June 1998: Prada buys 5 percent of Gucci.
3) January 1999: LVMH confirms initial stake in Gucci, which later turns out to be 34.4 percent of the firm.
4) March 1999: PPR agrees to buy 40 percent of Gucci for $2.9 billion, Artemis holding company agrees to acquire Yves Saint Laurent fashion and fragrance business from Sanofi.
5) May 1999: Dutch court sides with Gucci in PPR in contentious dispute with LVMH.
6) November 1999: Gucci acquires YSL.
7) March 2000: Tom Ford takes the design reins at YSL ready-to-wear.
8) November 2000: Gucci drops ESOP poison-pill plan.
9) June 2001: PPR says it has “no intention at all” of acquiring all of Gucci.
10) September 2001: PPR agrees to pay $94 a share for 40 percent of LVMH’s 20.6 percent stake in Gucci and $101.50 a share for all shares it doesn’t already own in March 2004.
11) December 2001: LVMH sells its remaining 8.4 percent stake in Gucci for $814 million.
12) July 2002: PPR downplays debt concerns, assures investors of its ability to acquire remaining Gucci shares for $101.50 in 2004.
13) December 2002: PPR sells 90 percent of Finaref to Credit Agricole, plans sale of other business-to-business units.
14) May 2003: Gucci to make special dividend payment to shareholders of 13.50 euro a share, or about $1.6 billion.
15) October 2003: Special dividend paid.