Factual error: Patrizia Reggiani signs a series of bank cheques from March 1978. The same evening she goes to a party. First song playing; "On the radio", released in late 1979. Second one (when he meets the dorky Gucci heir behind the bar); "Anna" by Miguel Bosé, released in 1978, yes, but around November. When she convinces him to dance, the main song played is "Love to love you baby", which is appropriate being from 1975, but before switching to it, for a few seconds you can hear the riff from "Bad Girl", again a Donna Summer hit, released both as a single and part of the album only in 1979.
Factual error: The first and second scenes are set on the same day in 1978. The second scene at the party features 2 Donna Summer songs (On the radio and Bad girls). Both songs were not released until 1979.
Factual error: The movie begins on March 1978 (date on the bank cheques that Patrizia signs). She meets Maurizio at the party that evening and, after 2 years they are married. All good, except for the fact that in reality, Maurizio Gucci and Patrizia Reggiani's wedding took place on October 27,1972.
Factual error: When Aldo and Maritzio are doing dishes in Maritzio's apartment there is an LED light bulb sitting in a glass on the shelf. It is slightly larger than the standard light bulb and wouldn't have been available at the time the movie takes place.
Continuity mistake: When Maurizio tells Patrizia to stay away from "Gucci" and that he can handle the company himself, Lady Gaga's hand is higher up on the bedpost, past the ring. It's lower, below the ring, in the reverse shot. (01:38:40)
Factual error: In the scene after the "stealing" argument with Paola, Patrizia asks her indifferent husband "Do you like my hair?" He's reading a page from "Il Foglio." First, it can't be the actual newspaper because it literally means "The Sheet" and its format is exactly that, a single page and he's reading a large bundle of pages, but more importantly, "Il Foglio" was founded in 1996, after Gucci's death. (01:43:55)
Factual error: When Paolo insults Maurizio and Patrizia after the disaster at his fashion show, in the background there's a street sign (a red and blue circle with a cross) which was introduced only in 1992. The scene is set in 1986. (01:25:50)
Answer: Yes. Basically, within the narrative of the film, Maurizio is weak-willed and easily manipulated by Patrizia; he didn't even want to be involved in running Gucci in the first place and has no real business acumen. So, he both overextends the firm and spends a huge amount of money on an extravagant lifestyle, which leaves him in financial trouble and at the mercy of a hostile takeover.