Leonardo Del Vecchio

About Leonardo Del Vecchio

Birth Day: May 22, 1935
Birth Place: Milan, Italy, Italy
Birth Sign: Gemini
Residence: Milan
Citizenship: Italy
Education: High school
Occupation: Founder and Chairman of Luxottica
Known for: Sunglass Hut, LensCrafters, Ray-Ban, Oakley
Spouse(s): Married
Children: Claudio, Marisa, Paola, Leonardo Maria, Luca, Clemente

Leonardo Del Vecchio Net Worth

Leonardo Del Vecchio was bornon May 22, 1935 in Milan, Italy, Italy. Leonardo Del Vecchio's eyewear giant Luxottica announced plans to merge with French lens manufacturer Essilor in January 2017, putting Luxottica's octogenarian founder at the helm of what will be the world's largest producer and retailer of sunglasses and prescription glasses. The combination, to be known as EssilorLuxottica, is set to control 27% of the global eyewear market; Johnson & Johnson, the next largest firm, has a 3.9% share. Del Vecchio founded Luxottica in 1961 when he was 25; it later acquired popular brands Ray-Ban and Oakley and retailers Sunglass Hut and LensCrafters. The company produces glasses for a host of brands, including Bulgari, Chanel, Armani and Ralph Lauren. Del Vecchio also holds stakes in Italian insurance giant Assicurazioni Generali, French real estate company Foncière des Régions and Italian bank UniCredit. At age 7, Del Vecchio was sent to an orphanage because his widowed mother could not afford to support her five children. He apprenticed at a factory to put himself through design school at age 14 before striking out on his own a decade later. "Work always came before everything," he once told FORBES. "If I'd started selling fruit, I'd be passionate about fruit." His son Claudio owns U.S. men's retailer Brooks Brothers.
Leonardo Del Vecchio is a member of Fashion and Retail

💰 Net worth: $22.2 Billion (Updated at 22 June 2018)

2009 $6.3 Billion
2010 $10.5 Billion
2011 $11 Billion
2012 $11.5 Billion
2013 $15.3 Billion
2014 $19.2 Billion
2015 $20.4 Billion
2016 $18.7 Billion
2017 $17.9 Billion
2018 $22.33 Billion

Some Leonardo Del Vecchio images

Biography/Timeline

1935

Leonardo Del Vecchio was born in 1935 in Milan, Italy, to an impoverished family. He began his career as an apprentice to a tool and die maker in Milan, but decided to turn his metalworking skills to make spectacle parts. So in 1961 he moved to Agordo in the province of Belluno, which is home to most of the Italian eyewear industry. The new company was Luxottica s.a.s., a limited partnership. In 1967, he started selling complete eyeglass frames under the Luxottica brand, and in 1971 he entered the contract Manufacturing Business.

1974

In 1974, he acquired Scarrone, a distribution company. In 1981 the company set up its first international subsidiary, in Germany. A licensing deal with the designer Giorgio Armani was settled in 1988.

1990

The company listed in New York in 1990, and in Milan in December 2000, joining the MIB-30 (now S&P/MIB) index in September 2003. The listing enhanced the company’s ability to acquire other brands, starting with Italian brand Vogue in 1990, Persol and US Shoe Corporation (LensCrafters) in 1995, Ray-Ban in 1999 and Sunglass Hut, Inc. in 2001. They went looking for more Retail companies, acquiring Sydney-based OPSM in 2003, Pearle Vision in 2004, Surfeyes in 2006, and Cole National in 2004. Most recently, they acquired Oakley in a US$2.1bn deal in November 2007.