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Leonardo Del Vecchio, Billionaire Ray-Ban Owner, Dies at 87

  • Italian entrepreneur started with a tiny optics workshop
  • Tycoon’s Luxottica became world leader in eyewear industry
Bloomberg business news
WATCH: Del Vecchio started off with a tiny optics workshop in the Dolomite mountains and ended up as the undisputed world leader in eyewear.Source: Bloomberg
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Leonardo Del Vecchio, the Italian entrepreneur who transformed a tiny optics workshop into the undisputed world leader in eyewear and amassed one of the biggest fortunes in his country along the way, has died. He was 87.

Raised in a Milan orphanage, Del Vecchio struck out to set up shop in the town of Agordo, in the Alps north of Venice, from where his small supplier of eyeglass frame-parts morphed into a global player, making a series of often brazen acquisitions to eventually become EssilorLuxottica, the world industry leader. Iconic brands like Ray-Ban and Oakley were among the scores of targets Del Vecchio snapped up on his way to the top.