Leonardo Del Vecchio, owner of popular eyewear brands including RayBan passed away on June 27. He was one of the world’s brightest businessmen.
The Italian businessman was born in Milan and grew his business globally over decades. He died on June 27 at the age of 87. He believed in working hard and even at his old age he didn’t stop. He was working even in the last few days. He was the founder of Essilor Luxottica and had a major share in the company to date Essilor Luxottica was a mega-merger between the sunglasses brand Luxottica and lens maker Essilor. With his company, he specialized in stylish eyewear and built brands like RayBan and Oakley.
According to Bloomberg Billionaires Index, his net worth in June 2022 was estimated at $25.7 billion. He was the second richest man in Europe after the famous chocolate-making family Ferrero. He ran his solo company Luxottica till 2018 and gained popularity for manufacturing stylish sunglasses. In 2018, the company merged with Essilor, a French lens-making company. The company now produces eyewear for Prada and Armani and has built brands like RayBan. It performs global operations with 1,80,000 employees.
About Leonardo Del Vecchio
Born on May 22, 1935, in Milan, Italy; Vecchio grew up in an orphanage. His father was a vegetable vendor and died before his birth. His mother sent him to an orphanage when he was seven years old. He grew up there. In his teenage years, he worked at a tool-making company and worked with a dye manufacturer. In 1960 he relocated to Agordo and started manufacturing eyewear frames designed by some companies. In 1961 he started Luxottica with some factory workers.
By the late 1960’s Luxoticca was manufacturing its own designs. Their business flourished in Europe and their stylish designs were in trend. In 1980 the company expanded its business further. Leonardo started buying companies in the US, and that is when he bought RayBan in 1999 for $640 million. He had shared his goal to make Essilor Luxottica a member of the exclusive club with a valuation of more than 100 billion euros.
Throughout his life, Leonardo was a shy and secretive person. He avoided the media and would appear in interviews once in a while. He devoted the majority of his time to his work and building his business. He always strived for the best and had mentioned in a rare conversation, “I could never get enough”. A true entrepreneur with a brilliant mind and a sportsman spirit.
Leonardo Del Vecchio has left his mark in the industry with his phenomenal work. His death was reported by one of the chairpersons of the company and the reason was not disclosed. He will always be remembered and like he quoted, “You need to be brave enough to keep doing things to move forward”.
