Leonardo Del Vecchio
Founder of Luxottica and chairman of EssilorLuxottica
Leonardo Del Vecchio was the Italian entrepreneur who founded Luxottica in 1961 and built it into the world's largest eyewear company, combining manufacturing, brands, licences and retail. The 2018 merger with Essilor created EssilorLuxottica, which produces glasses for many of the world's major fashion houses. He died in June 2022.
| Role | Founder of Luxottica; chairman of EssilorLuxottica |
|---|---|
| Founded | Luxottica, Agordo, 1961 |
| Born | 22 May 1935, Milan |
| Died | 27 June 2022 |
| Holding company | Delfin |
Who was Leonardo Del Vecchio?
Leonardo Del Vecchio, born in Milan on 22 May 1935, was the founder of Luxottica and, at the time of his death, chairman of EssilorLuxottica. Through his holding company Delfin he was the largest shareholder of the group. He died on 27 June 2022, aged 87.
Career
Del Vecchio founded Luxottica in 1961 in Agordo, in the Dolomites, as a small workshop making parts for spectacles. Between 1969 and 1971 the company moved from contract manufacturing to producing complete frames under its own name, and then expanded into wholesale distribution and retail.
Over the following decades he built a vertically integrated group through a series of acquisitions and licences:
- 1988: licence agreement with Giorgio Armani, the first of many fashion licences
- 1990: acquisition of Vogue Eyewear and listing on the New York Stock Exchange
- 1995: Persol and the US optical retailer LensCrafters
- 1999: Ray-Ban; 2001: Sunglass Hut; 2007: Oakley for 2.1 billion dollars
Luxottica listed on the Milan stock exchange in December 2000. In 2018 it merged with the French lens maker Essilor to form EssilorLuxottica, with Delfin holding about 38 percent of the combined company.
Influence on the fashion business
Del Vecchio transformed eyewear into a key category for fashion brands. By manufacturing and distributing glasses under licence for many luxury and fashion labels, while also owning major brands and retail chains, Luxottica controlled much of the value chain from factory to shop. The model gave fashion houses a profitable accessories business without having to build eyewear expertise themselves, and it made Luxottica one of the most powerful partners in the industry.
At its peak before the merger, Luxottica employed more than 77,000 people and operated over 8,000 stores, making it the world's largest producer and retailer of glasses and frames.
Legacy
After his death EssilorLuxottica continued under the leadership of Francesco Milleri, his long-time adviser. The group has since pushed further into technology, including smart glasses developed in partnership with Meta under brands such as Ray-Ban, building on the brand portfolio Del Vecchio assembled.
Why it matters
Leonardo Del Vecchio is one of the clearest examples of vertical integration in the fashion and accessories industries. His group remains the main eyewear partner for many fashion houses, and its structure continues to shape how brands approach licensing, manufacturing and retail.
Frequently asked questions
Who was Leonardo Del Vecchio?
Leonardo Del Vecchio was the Italian founder of Luxottica, which he started in 1961 and built into the world's largest eyewear company. He became chairman of EssilorLuxottica after the 2018 merger with Essilor and died in 2022.
Which brands did Leonardo Del Vecchio acquire?
Under Del Vecchio, Luxottica acquired brands and retailers including Vogue Eyewear, Persol, LensCrafters, Ray-Ban, Sunglass Hut and Oakley. It also produced eyewear under licence for many fashion houses, starting with Giorgio Armani in 1988.