Business · Companies · 2 days ago
Leonardo Del Vecchio built Luxottica into a global eyewear business
Leonardo Del Vecchio grew up in an orphanage in Milan and began working in a factory at 14.
In 1961, he started Luxottica, first making parts for other eyewear companies and later producing complete glasses.
He expanded the business into distribution and stores, then bought well-known brands such as Ray-Ban and Oakley.
By bringing many parts of the eyewear business together, Luxottica could make glasses, sell them and reach customers through its own stores.
Leonardo Del Vecchio built Luxottica from a small producer of eyewear parts into a global business spanning production, brands, distribution and retail.
He founded Luxottica in Agordo, Italy, in 1961, after starting work in a factory as a teenager.
The company began making complete frames under its own brand in 1967 and expanded into distribution and retail.
Luxottica bought Ray-Ban in 1999 for about $640 million and acquired Oakley in 2007 for $2.1 billion.
Del Vecchio’s strategy was to bring more parts of the eyewear business under one company.
- Who
- Leonardo Del Vecchio, founder of Luxottica.
- What
- He built Luxottica into a global eyewear business spanning manufacturing, brands, distribution and retail.
- When
- Luxottica was founded in 1961. The article describes expansion over subsequent decades.
- Where
- Del Vecchio was born in Milan, Italy, and founded Luxottica in Agordo, Italy.
- Why
- He aimed to control more of the eyewear business, from production and brands to distribution and stores.
This story does not have two clearly opposing sides.
If I had started selling fruit, I would have become passionate about fruit.
I never expected us to grow this much; our aim was simply to make beautiful glasses.
We still believe that tomorrow’s frames will be better than today’s; it is in our blood.
Del Vecchio began making molds and parts used in eyewear frames in Milan.
He founded Luxottica in Agordo, where the company initially had 14 employees.
Luxottica began selling complete frames under its own brand.
The company bought the distribution firm Scarrone.
Luxottica bought United States Shoe Corporation, which owned LensCrafters.
Luxottica bought Ray-Ban from Bausch & Lomb for about $640 million.
- Founded
- Luxottica was established in Agordo in 1961
- Early workforce
- 14 employees in the company’s first years
- Ray-Ban acquisition
- 1999, for about $640 million
- Oakley acquisition
- 2007, for $2.1 billion
- Retail acquisition
- United States Shoe Corporation, which owned LensCrafters, was bought in 1995
Sources
Related news
Goldman Sachs warns Italy’s debt could rise through 2028
Tata Motors raises Iveco offer to €14.40 per share
Thieves steal 30,000 bottles worth €5 million from Antinori winery
Study examines whether buying back university years can bring earlier retirement
Italy’s industrial production fell 1.3% in August
Eni cuts recommended diesel price to €2.19 per litre
Stellantis unveils six concept cars in Paris as it plans new models through 2030
MPS calls emergency board meeting after Intesa bid changes
Monte dei Paschi to discuss M&A at Monday board meeting
Poste launches a new savings bond for minors with a 5% gross annual rate
Villa Franciacorta targets Asian and Mexican markets after heat-hit harvest
