Ray-Ban, Oakley, Persol... Behind the vast majority of glasses worn in the world today is a single name: Leonardo Del Vecchio. But the founder of this empire began life as a child left in an orphanage because his mother could not care for him.
He was born in 1935 in Milan to a poor family. He lost his father before he was born. When his mother could not care for five children, she placed Leonardo in an orphanage at age seven. At 14, he began working as an apprentice in a mold and tool workshop in Milan, where he learned metalworking.
The small workshop that moved to a town
Del Vecchio turned his metalworking skills to eyewear parts. In 1961, he moved to the town of Agordo, considered the heart of the eyewear industry, and founded Luxottica on a plot of land given to him for free to boost the local economy — with 14 employees. Initially, he produced parts for frames designed by others; in 1967, he began selling complete eyeglass frames under his own brand.
Then came big steps: he brought distribution in-house, expanded internationally, and signed licensing deals with brands like Armani. In 1990, he went public on the New York Stock Exchange. With the money raised, he bought legendary brands: Ray-Ban in 1999 for about $640 million, and Oakley in 2007 for $2.1 billion.
Milestones
• Born in Milan in 1935; lost his father before birth.
• Placed in an orphanage at age seven; became an apprentice at 14.
• Founded Luxottica in Agordo in 1961 with 14 employees.
• Bought Ray-Ban in 1999 and Oakley in 2007.
• Merged with Essilor in 2018, creating EssilorLuxottica.
• Died in 2022 with a fortune exceeding $24 billion.
The empire's peak
In 2018, Luxottica merged with French company Essilor, creating EssilorLuxottica — a giant group with a market value of tens of billions of euros. Del Vecchio did not stop even in his 80s, remaining at the center of business life. When he died on June 27, 2022, at age 87, his fortune was over $24 billion, making him one of Italy's richest people.
"I never thought I would come this far; but I always tried to do the best for myself."
From a child in an orphanage to the owner of almost every famous eyewear brand the world has seen... Del Vecchio's story is remembered as one of Italy's most striking rags-to-riches tales from the post-war era.
