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Gucci, founded in 1923, became one of the first luxury brands to achieve success on a global scale: it broadened the appeal of so-called luxury to a wider social audience than ever before; it developed obvious logo symbols; and it cleverly exploited the growing international obsession with self-expressive and status laden products. However, after less than a century the same family which had so astutely built a brand from scratch, almost succeeded in destroying it. While many of the mistakes made were due to classic family firm squabbles rooted in greed and jealousy, an equally strong reason for the gradual decline in the brand's fortunes was related to misguided, short-term strategies which backfired badly. As such the case, which covers the early stages, growth, international (especially American) expansion, and finally the erosion of the Gucci brand prior to its revitalisation by Tom Ford, demonstrates some key learnings valid for any company trying to successfully launch, and sustain its brand(s) in the ever lucrative luxury sector. The case also highlights some of the pitfalls of luxury branding, which can sidetrack the brand from its targeted segments and lead to its erosion and decline.