The Man and the Lens: Dead Ravenan Founder, Italian Billionaire Leonardo da Vecchio

Italian billionaire Leonardo del Vecchio, founder of the glasses and lenses empire EsilorLuxottica, has died at the age of 87, serving as chairman of the team until his last day.

De Vecchio made his way into the industry in 1961 as the owner of a tiny eyewear store called Luxottica – the business grew and grew in the following years, along with its most powerful brand, Rayban.

The founder became one of the most important manufacturers in Italy and later also in Europe, where he served as a member of dozens of boards of leading companies on the continent.

In 2018, the group led by him became an even bigger giant, When merged with French competitor Esilor A deal that at the time created an empire worth $ 50 billion. He himself was the man who pushed and initiated the merger, and has since headed the group as chairman. The company is currently traded in Paris at a value of 66 billion euros.

Among the many eyeglass brands of AsilorLuxautica:

Ray-ban. Oakley. Bulgary. Chanel. Dolce & Gabbana. Giorgio Armani. Ralph Lauren. Michael Kors. Valentino. Versace .

De Vecchio’s influence in Italy and Europe went beyond the project of his life in the eyewear company, also but not only in view of his position in the financial markets. The private company owned by De Vecchio (Delfin) is the largest shareholder in the Italian bank Mediobanca and at the same time holds about 10% in the general insurance company.