Gucci (Italian pronunciation: [ˈɡuttʃi]) is an Italian fashion and leather goods brand, part of the Gucci Group, which is owned by French company Kering formerly known as PPR. Gucci was founded by Guccio Gucci in Florence in 1921. Gucci generated about €4.2 billion in revenue worldwide in 2008 according to BusinessWeek magazine and climbed to 41st position in the magazine's annual 2009 "Top Global 100 Brands" chart created by Interbrand. Gucci is also the biggest-selling Italian brand. Gucci operates about 278 directly operated stores worldwide (as of September 2009) and it wholesales its products through franchisees and upscale department stores.In the year 2013 the brand was valued at $12.1 Billion USD with a sales of $4.7 billion USD. In the Forbes list for 2013, Gucci was ranked the 38th most valuable brand.