Italian founding family of the world’s largest eyeglass designer, manufacturer and distributor, Luxottica. Leonardo Del Vecchio started Luxottica in 1961. Headquartered in Milan, the company owns well-known brands, such as Sunglass Hut, Ray-Ban and Oakley, and produces glasses for global fashion brands, including Bulgari and Chanel.
At 14, Leonardo Del Vecchio worked in a factory making car and eyewear parts to put himself through design school. He established Luxottica (meaning “light” and “optics” in Italian) as a manufacturer of components and accessories for the optical industry. In 1971, he transitioned the company from an industry supplier to a full-service eyewear manufacturer. Del Vecchio developed the company’s international networks and renowned vertical integration strategy throughout the 70s and 80s. Luxottica eventually became a powerhouse of the sector through acquisitions and licensing agreements with high-profile players, including Giorgio Armani. Leonardo’s son, Claudio Del Vecchio, is a Luxottica Board Member in addition to serving as Chairman and CEO of Brooks Brothers Inc.
Leonardo Del Vecchio’s six children own an equal stake in Luxottica’s holding company, representing approximately 16.38 per cent each. The estimated net worth of the Del Vecchio family is $23.3 billion.
Leonardo Del Vecchio died on June 27, 2022 in Milan, Italy. He was 87.
