Italy: death of Leonardo Del Vecchio, great figure of Italian capitalism, at the age of 87
Leonardo Del Vecchio, founder of the Luxottica group specializing in eyeglass frames, has died at the age of 87.
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Leonardo Del Vecchio, founder of the Luxottica group specializing in eyeglass frames, has died at the age of 87.
He had been hospitalized for several days in intensive care at San Raffaele Hospital in Milan.
At the head of a fortune estimated at around 25 billion euros, he represented for Italy the example of capitalism on a human scale.
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Leonardo Del Vecchio's extraordinary career began in Milan in a small eyewear factory.
He entered it at the age of 14 after growing up in an orphanage.
In 1961, he founded in the village of Agordo, in Veneto, the company Luxottica, specializing in the optical sector.
Over the years, Luxottica transformed into an eyewear giant and then merged with the French Essilor, thus forming the world's leading eyewear distributor with 180,000 employees.
But at the headquarters of Agordo, the 4,000 employees will continue to benefit from multiple initiatives expressly desired by Leonardo Del Vecchio to promote well-being at work.
In 1990, the company listed on the New York Stock Exchange.
Leonardo Del Vecchio then multiplies licensing agreements with fashion (Chanel, Prada, Versace, etc.) and acquires the Ray-Ban brand.
Having become the second richest man in Italy, he will never forget his poor childhood.
Moreover, to celebrate his 80th birthday, this father of six children will offer his Italian employees Luxottica shares worth 9 million euros.
(
with
AFP)
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