Continuity mistake: When Patrizia paints her phone number on the scooter's windshield the numbers change between shots, check the 5 for example.
Factual error: Lady Gaga is painting her toenails listening to some music on her portable cassette player. It's 1978, and walkman-type players were introduced the year after. (00:11:00)
Continuity mistake: When Aldo and Rodolfo first meet, the hat on the table swaps between being on the sunny side or in the shadows, depending on the shot.
Factual error: When Patrizia Reggiani signs cheques on her father's behalf, the bank that issues them is "Banca di Credito Colli Briani." Reasonably enough, is a completely made up name for a bank, but also bizarre because "Colli Briani" would be a toponym ("Briani Hills") but does not match any name in Italy - at most "Colli Briantei", which would be the Brianza region, not far from Milan where the story takes place. No other names of places or people in the rest of the movie are fictional. Moreover, the cheques don't have the number of the account they are associated with, and they are out of order. (00:03:40)
Other mistake: The hour of Maurizio Gucci's death was declared as being at around 8 am, but when he rides his bike going to the "crime scene", on the street there is a clock showing 9:40.
Factual error: When the Financial Police (Guardia di Finanza) arrives at Maurizio's Mansion, it should be in the late 80s, but they drive an Alfa Romeo 155. This car was produced from 1992 until 1998. (01:29:21)
Factual error: When Tom Ford reads The New York Times article about his successful show, his copy from Sunday March 13 1995 is a Frankenstein made out of different articles from different parts of the year that don't match the titles (the 'utility employees' article is actually about a single mother in a dire situation, published on December 26, the 'Soviet ship' article is from November 10). Also, there's the small detail that March 13 1995 was a Monday, not a Sunday. (02:16:35)
Continuity mistake: Nemir Kirdar in their first meeting tells Maurizio that family business means family problems. The cigar in his hand is tilted at a different angle in the reverse shot. (01:47:35)
Continuity mistake: When Paola stands and leaves with vague promises of strudel deliveries, Patrizia's hands are joined. Cuts to her watching Paola leave, and she's smoking, hands apart. (01:43:25)
Continuity mistake: When Pacino introduces the country workers to "My nephew Maurizio" his sunglasses suddenly jump from his head to his hand. Adam Driver in this second shot affectionately touches his wife's back, and the gesture is repeated in the next angle change. (00:44:20)
Continuity mistake: When Patrizia retorts Maurizio's confrontational attitude with "YOU are an unnecessary detail" she holds the glass with her right hand, which becomes the left in the reverse shot. (01:36:30)
Continuity mistake: When Maurizio corrects Patrizia saying the restaurant was at the second floor of the Tour Eiffel, Lady Gaga goes from both hands joined to one hand up in the air in the middle of a gesture. An even more blatant instance later when he lambasts her saying they wouldn't tell her if they did mind her gab. (01:36:05)
Factual error: The judge sentences Aldo to a year and a day of prison, and that's accurate, but he adds "In a state penitentiary." Aldo Gucci served time at the so called "Club Fed", the Federal Prison Camp of Eglin. (01:22:50)
Character mistake: Paolo whines at the phone about his father going to jail when he's 70 years old. Like Al Pacino who plays him, Aldo Gucci was 80 at the time of the arrest. (01:21:35)
Factual error: Aldo Gucci's arrest happened in January 1986, but when Paolo reads the news on "La Stampa", the article next to it refers to researcher Thomas Chalmers asking for a smoking ban on US airlines. That's August of the same year. (01:21:10)
Other mistake: The IRS agent that knocks at the door of Aldo's squash booth sports a badge that is more phony than a football bat; it doesn't have a name, expiration date, or a full sentence on it. (01:21:05)
Revealing mistake: When Paolo tells Patrizia "I do have something on my father", you can plainly see the separation between the frowned forehead of Jared Leto and his "bald cap" prosthetics. (01:15:30)
Continuity mistake: When Patrizia is told by Domenico "You have a natural advantage, you are not a Gucci", her hands are down and separated, and then immediately in the next shot up and joined. (01:11:35)
Factual error: In the audience of the Versace show in 1983, there's a shot in the crowd showing someone portraying Karl Lagerfeld, in company of his iconic cat. Lagerfeld wasn't known for carrying felines around during that part of his career. (01:09:00)
Factual error: At the Versace fashion show set in 1983, the photographers are using cameras with modern flashes installed, complete with LCD displays. (01:08:55)
Answer: No.