Rome: Leonardo Del Vecchio, the Italian entrepreneur who started with a tiny optics workshop in the Dolomite mountains and built an eyewear empire that spanned from Ray-Ban to some of the biggest fashion brands, has passed away. He was 87.
EssilorLuxottica SA, the eyewear giant for which Del Vecchio served as chairman, announced his death on Monday without disclosing a cause.
EssilorLuxottica is both the world’s top eyeglass retailer and its biggest producer of corrective lenses.
Del Vecchio rose in an orphanage. and later set up shop in the town of Agordo, in the Alps north of Venice, starting off as a small supplier of frame parts to local eyeglass makers.
His company, EssilorLuxottica, rode a series of acquisitions to eventually become the world leader in the industry.
Globally recognised names Ray-Ban and Oakley were among the scores of eyewear brands Del Vecchio bought on his way to the top.
Del Vecchio’s net worth was $25.7 billion as of June 1, according to the Bloomberg Billionaires Index.
