Born on May 22, 1935, and passing away on June 27, 2022, Leonardo Del Vecchio was an Italian billionaire businessman. He founded and served as chairman of Luxottica, the largest manufacturer and retailer of frames and spectacles in the world, employing 77,734 people across more than 8,000 locations. With an estimated net worth of US$24.1 billion at the time of his passing, he ranked second in Italy and 54th overall.
Leonardo Maria Del Vecchio Life and career
Born on May 22, 1935, in Milan, Italy, Leonardo Del Vecchio was the son of a poor family from Barletta, in Southern Italy. He was raised in an orphanage because his mother had four other children and his father had been a vegetable street vendor who had passed away before he was even born. He started off in Milan as an apprentice to a tool and die manufacturer before deciding to use his metalworking abilities to create parts for eyeglasses. He relocated to Agordo in the Belluno area in 1961, where the majority of the Italian eyeglasses business is based. Luxottica s.a.s. was the new business, a limited partnership.
He began offering full-service eyeglass frames under the Luxottica brand in 1967, and he went into contact lens production in 1971.
He bought Scarrone, a distribution business, in 1974. The business established its first overseas subsidiary in Germany in 1981. In 1988, a licensing agreement was reached with designer Giorgio Armani.
The company joined the MIB-30 (now S&P/MIB) index in September 2003 after being listed in Milan in December 2000 and New York in 1990. The Italian brand Vogue in 1990, Persol and US Shoe Corporation (LensCrafters) in 1995, Ray-Ban in 1999, and Sunglass Hut, Inc. in 2001 were among the names the corporation was able to buy more easily after listing.
Seeking up other retail businesses, they bought Sydney-based OPSM in 2003, Surfeyes in 2006, Cole National in 2004, and Pearle Vision in 2004. In November 2007, they paid US$2.1 billion to purchase Oakley.(8)
Ten percent of the Italian investment bank Mediobanca was held by Del Vecchio.
Leonardo Maria Del Vecchio Personal life
Del Vecchio had three marriages. He resided in Milan and had six children in all. With his first wife, he had two daughters, Paola and Marisa, and one son, Claudio Del Vecchio. He had two kids, Luca and Clemente, with his third wife, and another son, Leonardo Maria, with his second wife. In 2010 saw him remarry his second wife.
Leonardo Maria Del Vecchio Death
in the age of 87, Del Vecchio passed away from pneumonia in San Raffaele Hospital in Segrate, an eastern suburb of Milan, on June 27, 2022. His employer released a statement announcing his passing. The company released a statement saying, “EssilorLuxottica sadly announces today that its chairman has passed away,” and it added the board would meet to “determine the next steps.”
About Leonardo Maria Del Vecchio
Leonardo Maria Del Vecchio is the youngest of six children of Leonardo Del Vecchio, the late chairman of EssilorLuxottica, the largest eyeglass company in the world, who passed away in 2022.
Along with his mother and six half-siblings, he acquired a 12.5% share in his father’s holding company, Delfin, which is domiciled in Luxembourg, upon his death.
In addition to EssilorLuxottica, Delfin owns stock in the banks Mediobanca and UniCredit, the real estate developer Covivio, and the insurer Generali.
Leonardo Maria is the chief strategy officer of EssilorLuxottica and one of just two of his father’s heirs employed by the company.
In addition, he serves as CEO of Salmoiraghi & Viganò, an eyewear retailer that EssilorLuxottica purchased in 2016 for an unknown sum.
When was Leonardo Del Vecchio born?
On May 22, 1935, Leonardo Del Vecchio was born in Milan, Lombardy, Italy. He was an actor best known for the 2011 film Un solo sguardo. He was wed to Luciana and Nicoletta. He passed away in Milan, Lombardy, Italy, on June 27, 2022.
What was Leonardo Del Vecchio’s early childhood like?
Del Vecchio was poor when he was born. When he was seven years old, his mother placed him in a Milanese orphanage because she could not afford to raise him after his fruit and vegetable-selling father passed away when he was still a small child.
How much is Claudio Del Vecchio worth?
Italian businessman Claudio Del Vecchio was the owner, chairman, and CEO of Brooks Brothers Group, Inc., the Brooks Brothers holding company. He was born in 1956. Forbes calculated his net worth to be approximately $3.9 billion in April 2023.
How old is Leonardo Del Vecchio?
in the age of 87, Del Vecchio passed away from pneumonia on June 27, 2022, in San Raffaele Hospital in Segrate, an eastern suburb of Milan.
What did Leonardo Del Vecchio do?
Leonardo Del Vecchio, an Italian billionaire businessman, was born on May 22, 1935, and passed away on June 27, 2022. He founded and served as chairman of Luxottica, the largest retailer and manufacturer of eyeglasses in the world, employing 77,734 people across more than 8,000 locations.