Leonardo Del Vecchio: The Innovator Behind the Luxottica Group
Leonardo Del Vecchio is a renowned Italian business magnate, investor, and founder of Luxottica Group, the world’s largest eyewear company. He is not only the founder of the iconic eyewear company, but has also served as Luxottica’s chairman since 1961, thus making him one of the most influential business magnates in the world. With an estimated net worth of US$21.7 billion, Del Vecchio is also one of the wealthiest Italian businessmen alive today.
Early Life and Education
Born on May 22, 1935, in Milan, Italy, Leonardo Del Vecchio is the son of Angelo, who worked as a tool and die maker for the Italian army, and Maria, a seamstress. He lived with his widowed mother and four siblings in the province of Como until the age of 14. Because Del Vecchio’s family was facing financial hardship, he was sent to work in a factory as an apprentice to a tool and die maker. Despite his young age, Del Vecchio was determined to get ahead, and he eventually became one of the most successful entrepreneurs in the world.
Entrepreneurial Pursuit
Shortly after the start of his apprenticeship, Del Vecchio founded Luxottica in 1961. The company began by making sunglasses and optical frames in his garage. Over the next few years, the company slowly gained traction in the optical industry, and eventually became one of the largest optical companies in the world. Today, Luxottica owns some of the most prestigious brands in the industry, including Ray-Ban, Oakley, Persol, LensCrafters, and Sunglass Hut.
Visionary with a Social Mission
From being an underprivileged child to becoming one of the world’s most successful entrepreneurs, Leonardo Del Vecchio has come a long way. He is not only a visionary, but his journey is a testament to his persistent spirit and hard work. Del Vecchio set out to make Luxottica a global success— and succeeded. He also pursued a vision to bring luxury eyewear to customers at an affordable price point, thereby revolutionizing the entire industry.
In addition to becoming one of the most successful entrepreneurs ever, Del Vecchio is also a philanthropist. He established the Del Vecchio Foundation in his native Italy to help needy children and their families. He also works with various charitable organizations and actively supports educational programs. Del Vecchio also received the Order of Merit from the Italian Republic in 2004, which is the highest honor a non-Italian can receive.
Leadership
Del Vecchio has been president and chairman of Luxottica since 1961, when the company was founded. As a leader, he has made countless contributions to the success of the eyewear conglomerate. He has grown the business from a small garage-based business to the multinational giant that is has become today. He has made it a priority to remain directly involved in the day-to-day operations of the company and has been quoted saying that he attends to even the smallest of details. Del Vecchio said of the company, “The number one principle is that you must work hard and believe in what you are doing. You must put all your heart and soul into it.”
Investments
In addition to his leadership of Luxottica, Leonardo Del Vecchio also has made wise investments. He has invested in numerous industries, such as pharmaceuticals and financial services, including shares of Unicredit, Italy’s largest bank, and the Mediolanum bank. He also owns controlling stakes in UniCredit and Intesa Sanpaolo.
Accomplishments
Throughout his career, Leonard Del Vecchio has achieved a variety of milestones. Here are a few of his key accomplishments:
• Founding the Luxottica Group: Del Vecchio founded Luxottica in 1961, and in the following years, the group grew and expanded rapidly. Today, it is the world’s leading manufacturer, distributor, and retailer of luxury eyewear.
• Receiving the Order of Merit from the Italian Republic: Del Vecchio received the Order of Merit from the Italian Republic in 2004, which is considered one of the highest honors a non-Italian can receive.
• Investment in Pharmaceuticals and Financial Services: Del Vecchio has invested in many industries, including pharmaceuticals and financial services, such as Unicredit, Italy’s largest bank, and the Mediolanum bank. He also owns controlling stakes in UniCredit and Intesa Sanpaolo.
• Philanthropy: Del Vecchio established the Del Vecchio Foundation to help needy children and their families and also works with various charitable organizations and supports educational programs.
Since he first established Luxottica in 1961, Leonardo Del Vecchio has come a long way. From an apprenticeship in a factory to becoming one of the world’s most influential business magnates, Del Vecchio is an inspiration for entrepreneurs. He is not only a visionary and a leader, but is also a devoted philanthropist. For his many accomplishments, Del Vecchio has received honors like the Order of Merit from the Italian Republic, and he continues to inspire future generations to look beyond their own limitations and strive for success.
