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The company was founded by Rinaldo Piaggio in 1884, produced a court, aircraft and industrial equipment. In the postwar years, Enrico Piaggio, son of the founder, decided to concentrate on the production needs to be restored after the war, a poor country of light motor vehicles. The company gained notoriety in 1946, when started producing scooters Vespa. In 1959, control of the Agnelli family Piaggio received, the owners of the concern Fiat. In 1964, the aviation unit of the company stood out as a separate company IAM Rinaldo Piaggio (now - Piaggio Aero). At the end of the 60s group known motorcycle company purchased Gilera, and the model range has replenished 50 cc mopeds. By the 2000s the financial position of Piaggio was very unflattering. In 1999, control of the company passed to fund Morgan Grenfell - London branch Deutsche Bank. In 2003 a large part of the company was sold to Milan investment company IMMSI, the owner of which was the famous Italian businessman Roberto Colaninno, formerly stood at the head of Olivetti and Telecom Italia. Under the direction of Colaninno company out of the crisis, became profitable.