Leonardo Del Vecchio Biography
Leonardo Del Vecchio is an Italian billionaire businessman born on 22 May 1935 in Milan, Italy . He is the founder and chairman of Luxottica, the world’s largest producer and retailer of glasses and lenses. The company has 77,734 employees and over 7,000 stores.
Leonardo Del Vecchio Age
He was born on 22 May 1935. He is 83 years old as of 2018.
Leonardo Del Vecchio Wife | Leonardo Del Vecchio Married
De Vecchio has been married three times but details of his first and third wives have remained hidden from the eyes of the public. He later remarried his second wife Nicoletta Zampillo for the second time in 2010.
Leonardo Del Vecchio Children
He has six children; a son and two daughters from his first wife, two sons from his second wife and one son from his third wife.
Leonardo Del Vecchio Career
He began his business career as an apprentice to a tool and die maker in Milan, but decided to turn his metalworking skills to make spectacle parts. 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. He started selling complete eyeglass frames in 1967,under the Luxottica brand, and in 1971 he entered the contract manufacturing business.
He acquired Scarrone, a distribution company, in 1974. The company set up its first international subsidiary, in 1981 in Germany. In 1988, they made a licensing deal with the designer Giorgio Armani .
He acquired Scarrone, a distribution company, in 1974. The company set up its first international subsidiary, in 1981 in Germany. In 1988, they made a licensing deal with the designer Giorgio Armani .
In 1990, the company listed in New York , and in Milan in December 2000, joining the MIB-30, currently S&P/MIB index in September 2003. This 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 out looking for more retail companies, acquiring Sydney-based OPSM in 2003, Pearle Vision in 2004, Surfeyes in 2006, and Cole National in 2004. In November 2007, they acquired Oakley in a US$2.1bn deal.
Leonardo Del Vecchio Net Worth
He has a net worth of $21.9 billion.
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Luxottica’s Del Vecchio says listing in both Italy and France still an option: report
(Reuters) – The group created by the merger of Italy’s Luxottica and France’s Essilor will consider a listing in both Italy and France, as well as the United States, Luxottica founder Leonardo del Vecchio was quoted as saying on Tuesday.
The companies agreed on Monday a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. They said the combined business would be listed in Paris.
“The double listing is an option on the table which we will evaluate in the next days, and so will the listing on the U.S. market,” said Del Vecchio in an interview with Italian newspaper Corriere della Sera.
The all-share deal is aimed at helping the two businesses take full advantage of expected strong demand for prescription spectacles and sunglasses, in a market worth 95 billion euros.
It also removes – for the time being – uncertainty over succession at Luxottica, which has lost three CEOs since 2014 because of divergences with Del Vecchio.
Del Vecchio rejected the idea that Luxottica was being sold off to the French and said that although his family investment company would dilute its position it would remain the biggest shareholder in EssilorLuxottica.
“The Luxottica world will always firmly remain Italian, with its head in Milan and its heart in the Belluno mountains,” Del Vecchio said, referring to the manufacturer’s base in the mountain town of Agordo.
Through holding Delfin, the 81-year-old tycoon will be the biggest shareholder of the combined group, with a stake of between 31 percent and 38 percent.
Del Vecchio, who returned to the helm of his company two years ago, will be the CEO and executive chairman of the merged group.
Despite his hands-on-role in Luxottica, he said that “as soon as I will realize that my presence is not essential I will leave any executive position in the group.”
He added past organizational changes in Luxottica, much criticized by the market, were “essential to have a stronger and more modern company capable of facing (the merger)”.
Adopted From: businessinsider.com
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Essilor: Delfin by Leonardo Del Vecchio will bring his Luxottica shares
Source: Finanza.com
The Luxottica shares held by Delfin of Leonardo Del Vecchio will go to Essilor on Monday, October 1, 2018. This is what the French multinational notes on the statement of capital for the conferral of Delfin shares for the renamed EssilorLuxottica.
The prospect of the mandatory OPS that the renamed EssilorLuxottica will launch on the Italian group will be sent to Consob on 11 October.
The increase in share capital without preferential subscription rights will occur, as stated in the prospectus, through the issue of 139,703,301 new ordinary shares of Essilor as consideration for the Luxottica shares contributed by
Delfin to Essilor, while the increase in share capital without option rights through the issue of a maximum number of 81,316,189 new ordinary shares of Essilor as consideration for the Luxottica shares made in the mandatory Ops that will be promoted by Essilor for
all Luxottica’s outstanding shares, together with a simultaneous placement private in the United States.
Essilor will be renamed “EssilorLuxottica” starting from the closing of the transfer to Essilor of Luxottica shares by Delfin. After Delfin’s contribution, EssilorLuxottica will be 38.3% controlled by the Del Vecchio holding and 4.9% by Essilor’s associates, while 56.8% will be in the hands of the indistinct public.