Spris is now closed, but Del Vecchio doesn’t rule out the possibility of opening another restaurant. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. As the co-owners of confectionary giants Perfetti Van Melle, brothers Augusto and Giorgio Perfetti are responsible for providing the world with a number of renowned products; Mentos, Fruittella and Chupa Chups (acquired in 2006) are all now produced under the Perfetti Van Melle umbrella. 548227, reg. Despite turning 84 last year, the King of Fashion shows no signs of slowing down, either. In 2008, he bought Southwick, one of the U.S.’ last remaining men’s wear manufacturers, which had fallen on hard times—a move that saved 300 jobs. © Copyright 2021  -  Penske Media Corporation. Leonardo’s son, Claudio Del Vecchio, is a Luxottica Board Member in addition to serving as Chairman and CEO of Brooks Brothers Inc. Leonardo Del Vecchio’s six children own an equal stake in Luxottica’s holding company, representing approximately 16.38 per cent each. “It had no distribution there,” he says, “but Gianni Angeli, the chairman of Fiat, was a customer and he was considered a fashion icon. Claudio del Vecchio's siblings: Claudio del Vecchio's sister is Paola del Vecchio Claudio del Vecchio's half-brother is Leonardo Maria del Vecchio Claudio del Vecchio's half-brother is Luca del Vecchio Claudio del Vecchio's half-brother is Clemente del Vecchio ©2020 DeltaQuest Media. Indeed, with Del Vecchio as president and chief executive officer, Brooks Bros. has undergone more rapid changes than at any other period in its history. From the outset, he explains, his plan was to be “an innovator, not a conservator.”, Squaring all this with the tradition of Brooks Bros.—the company that made the coat Lincoln wore to Ford’s Theater the night he was assassinated—presents certain difficulties. Originally set on attending design school, Del Vecchio instead utilised his metalworking skills to start a spectacle-making business, creating the now-legendary Luxottica in 1967. “I’m a very patriotic man,” he says with an understated smile. An Elite CafeMedia Publisher - Update Privacy Preferences. He is the richest man in Italy. “Claudio has a great deal of respect for this great American institution,” he says. As a result, the company – of which Pessina remains CEO and vice chairman – attracted a revenue of over $131 billion (£100.8 billion) in 2018 (subsequently replacing General Electric on the Dow Jones Index), while the pharmaceutical and retail giant currently employs over 400,000 employees worldwide. “I got to walk into this building 10 years before I bought it,” he recalls. At 22, he was charged with heading Luxottica’s sales force in Italy, and two years later he was sent to Germany to establish the company’s first direct foreign distribution. That makes him the second richest man (after chocolate mogul Michele Ferrero) in Italy. This story first appeared in the March 21, 2011 issue of WWD. Now 83 and currently living in Milan, Del Vecchio still serves as the executive chairman of Luxottica, while his son Claudio is CEO of the prestigious Brooks Brothers clothier. Leonardo Del Vecchio—raised in an orphanage because his widowed mother couldn’t afford to support him—is the founder of Luxottica, the world’s largest eyewear company. “During this strategic review, COVID-19 became immensely disruptive and took a toll on our business,” a company spokesperson said. Yacht Charter. Although the company, founded in Treviso in 1902, originally made its fortune producing heaters, air conditioners and home appliances, it is in 1990 that they became a household name, producing the high-quality coffee machines with which the family name is now synonymous. But, despite his low-key manner, Del Vecchio, 52, doesn’t have a go-with-the-flow disposition. Many of the names on this list have had to work hard to reach the top, however. (Del Vecchio jokes that it was actually he who “married the boss,” since she was “a manager and she spoke English and was very influential.”) Today, she concentrates on raising their children and working for many charities—such as Helen Keller Services for the Blind and the Breast Cancer Research Foundation—about which both Del Vecchios are passionate. Debra was vice president of operations at Luxottica when they met. He was on his own. Mr. Del Vecchio came to the United States in 1982 and was instrumental in transforming Luxottica into a premier eyewear organization, overseeing its IPO in 1990. The boat is not available for yacht charter. In 1997, he was named ceo of Casual Corner, a struggling women’s apparel chain, and he resigned from Luxottica. He wore Brooks Bros. shirts, so I had a curiosity about it. Ian also owns Brightark, which is another investment company. Claudio Del Vecchio. Brooks Brothers Inc. Claudio Delvecchio net worth is Greater than $499,999. Estimated net worth: $3.8 billion (£2.9 billion). Built entirely upon a secret cocoa-hazelnut recipe called Pasta Gianduja – or, as the rest of the world now calls it, Nutella – the Ferrero empire is a global multibillion-dollar venture that is currently headed up by Giovanni Ferrero, the grandson of company founder Pietro. Thomas Keneally salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Thomas Keneally based on real numbers. 1. RAISED in an orphanage, Leonardo Del Vecchio started selling spectacles in Belluno in northern Italy in 1967. But don’t expect Brooks’ storied sack suit. Rated as the second richest man in Itlay after Michele Feroro, Del Vecchio has a net worth of US$19.1 billion. “That’s my last motivation,” he says. Most photos on this page by Raphael Belly Photography. He was 25 years old and spoke little English, but within four years he increased U.S. sales from $28 million to $100 million. What are other names he uses? However, in December 2018, the Court of Appeal in Florence overturned this verdict, clearing the siblings of any wrongdoing. Ferrero himself is married with two children and currently resides in Brussels, Belgium. This bit of backstory often stuns those who hear it after they meet Claudio Del Vecchio, whose personal style—sometimes slightly rumpled, always down to earth—doesn’t hint at great wealth. Today, the retailer operates more than 116 full-price and 101 factory outlet stores in the U.S. and some 175 stores in other countries, with the highest concentration in Japan (77), China (32), Hong Kong (13) and the U.K. (4). Estimated net worth: $22.4 billion (£17.2 billion) He holds the shares through his holding company Delfin SARL. “We were the first foreign company to go public in the U.S. before we went public in our own country,” he notes. Estimated net worth: $6.3 billion (£4.8 billion). “So I went to Marks & Spencer,” he says, “because my impression was that Brooks Bros. wasn’t being taken care of.”. Born into poverty in 1935, the eyewear magnate was sent to an orphanage at age 7, before apprenticing at a parts factory at age 14 to make ends meet. Del Vecchio's father peddled vegetables on the streets of Milan and died before he was born. In 2017, meanwhile, he sold the AC Milan football club (of which he had retained ownership for 31 years) to a Chinese investment group for €740 million ($835.5 million/£640.2 million). Where does he work? The only thing we can take with us is our reputation and hope that the people who come after us will remember us.”. Others had the same idea—Brooks’ potential suitors included Men’s Wearhouse, May Department Store Co., Polo Ralph Lauren and Dickson Poon—but that changed with 9/11. As you will see, these billionaires and business tycoons come from all types of backgrounds, having found success in industries as diverse as confectionery, eyewear and designer goods. “After that, most of the other [interested] companies disappeared, and we ended up paying less than we thought we would,” Del Vecchio says. And the yacht is not listed for sale. Why was he so in love with it when he could buy anything he wanted?”, When Del Vecchio arrived in the U.S. in 1982, he says, “the first store I visited was Brooks Bros.…I used to shop in Façonnable in Monaco, which was very inspired by Brooks Bros., so it was a natural step up. Let us know in the comments below! Mauro Calderan. VP/Chief Marketing Officer. This article is an updated version of an earlier article originally published on 26 January 2015. Estimated net worth: $7.4 billion (£5.7 billion). Last spring he inked a long-term deal with Scotland’s celebrated St. Andrews Links golf course to produce a line of golfwear. Net Worth: £5,6 billion Family Business: Tavistock Group Industry: Investments Prominent Member: Joe Lewis Leonardo Del Vecchio, the owner of the Italian eyewear giant Luxottica, is turning 80 on May 22. Sometimes Debra goes by various nicknames including Debra A Delvecchio, Debra A Nuzzi, Debra Ann Del, Debra Ann Del Vecchio and Debra Ann Delvecchio. Ian and Richard are still heavily involved in London and Regional Properties too, however. By now, the answer is unmistakable: Not only did old customers return, but Del Vecchio also found new ones—especially overseas. Brembo / BloombergPaolo (left) and Gianfelice Rocca, Estimated net worth: $4.1 billion (£3.2 billion). Given his Italian accent—he was born in Borgo Valsugana, a small town in northern Italy—Del Vecchio might not be expected to have his finger on the pulse of American culture. This story first appeared in the March 21, 2011 issue of WWD. The family has not been without controversy, though. Chairman/CEO/Owner. Paolo – the younger of the two brothers – obtained his MBA from Harvard Business School in 1985, and currently serves as the company’s CEO, while Gianfelice, who also attended HBS, serves as the group’s chairman. I didn’t have to change my style.”. For an Italian to turn around an iconic but declining American brand could be the ultimate men’s wear business challenge. Riots, Social Media’s Had Enough of Trumpism, COVID-19 Lockdowns Weigh on Q3 Revenue at Marks & Spencer, Alexander McQueen Defies Virus to Ramp Up Retail Network, Inditex Said to Shut All Bershka, Pull&Bear and Stradivarius China Stores. NEW YORK, NY - SEPTEMBER 14, 2017: CEO of Brooks Brothers Claudio Del Vecchio and designer Zac ... [+] Posen (Photo by Andrew Toth/Getty Images for Brooks Brothers) ... not worth … Giovanni Ferrero. Although many of these Italian billionaires have had a helping hand in terms of inheritance, their business intuition, shrewd decision-making and entrepreneurial prowess has ensured that they remain firmly among the world’s richest. Get all the top news stories and alerts straight to your inbox. Net worth over time (“It wasn’t a friendly acquisition,” he says with his usual matter-of-fact candor.) Message to Other Media. Today his company, Luxottica, owns Ray-Ban and Oakley, the … The Wall Street Journal. Despite its conservative image, the retailer has a remarkable instinct for change. One of the most controversial and enigmatic characters in Italian and European politics, Silvio Berlusconi made his fortune through his media conglomerate Fininvest, before serving the first of his three terms as Prime Minister of Italy in 1994. Fashion Looks to Washington With Horror and Hope, After D.C. Leonardo Del Vecchio On 22-5-1935 Leonardo Del Vecchio (nickname: Leonardo) was born in Milan, Italy. Following the acquisition of Perfetti Van Melle’s shareholdings in 2001, the company has established itself as the third largest confectionery manufacturer in the world after Mondelez International and Mars, Inc. Under Giovanni’s astute leadership, the company has since added several Nestlé brands, as well as numerous confectionery brands in the North American market, to this impressive portfolio. Summary: Debra Delvecchio is 63 years old and was born on 10/12/1957. Born into a working-class Piacentini family, the fashion mogul spent time at medical school as well as in the army, before finding work as a window dresser in a Milan department store in 1957. Chief Operating Officer. As of January 2020, Del Vecchio was estimated by Forbes to have a net worth of $25.8 billion, making him the second richest man in Italy, and the 50th richest in the world. Investors in the company's ADRs saw the stock run up 170%, making Del Vecchio's shares worth some $900 million. By 2006, they had opened one on Old Broad Street and another one on Regent Street, with plans to open a dozen more. Educated at the renowned Bocconi University business school in Milan, Luca Garavoglia has served as the chairman of the Campari Group since 1994, taking responsibility for the beverage giant’s aggressive acquisition and growth strategies of the late 1990s and early 2000s. Generally speaking, the bigger the hexagon is, the more valuable Claudio Del Vecchio networth should be on the internet! “This business doesn’t end with us,” he says. “When they look at this business 100 years after we’re gone, I hope the chapter they write about us will be a good one. Currency conversions are based on rates supplied by XE.com. He is the founder and chairman of Luxottica, the world's largest producer and retailer of glasses and lenses. Since then, the company has acquired some of the biggest eyewear companies in the world, including Ray-Ban, Oakley and Sunglass Hut, while they continue to make frames for designer brands such as Armani, Bulgari and Chanel. He made his 22000 million dollar fortune with Sunglass Hut, LensCrafters, Ray-Ban, Oakley. His net worth is estimated at US$ 21 billion. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. As of January 2020, Del Vecchio had a net worth of $25.8 billion, making him the richest man in Italy, and the 50th richest in the world. In fact, experimentation is an integral part of the brand’s tradition. Since then, Il Cavaliere (The Knight) has been embroiled in numerous blackmail, corruption and tax fraud scandals, culminating in a (later rescinded) court order banning him from running for political office in 2014. Claudio Del Vecchio. Although some viewed Black Fleece as iconoclastic—especially in 2006, when it was first unveiled—Browne sees it otherwise. Following the death of his mother Rosa in 2016, it was announced that Garavoglia would inherit her shares, making him the controlling stakeholder of the Campari business. So, clearly, does Del Vecchio. Until then, he plans to stay focused on expanding Brooks Bros.—just don’t ask him how large he wants it to grow. So, if you’re wondering who has amassed the biggest fortune, then read on – here are the 10 richest Italians, according to Forbes. Del Vecchio isn’t shy about admitting he’s “an excellent chef”—he even opened a restaurant in the Nineties, when he lived in Hartford because the local eateries failed to meet his high standards. He may live in a more-than-comfortable house on the north shore of Long Island with his wife, Debra, and their two children, Angelica, 8, and Cristian, who’s about to turn 11. To meet it, he knew he’d have to look forward, not back. As the widow of pharmaceuticals magnate Alberto Aleotti, Massimiliana – along with their children Lucia and Alberto Giovanni – inherited control of the influential Menarini Group in 2014, with Massimiliana retaining overall ownership. By subscribing, you agree to our Privacy Policy and Claudio Del Vecchio is Chairman/CEO/Owner at Brooks Brothers Inc. See Claudio Del Vecchio's compensation, career history, education, & memberships. “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. Leonardo Del Vecchio is married with six children and his son Claudio owns US men's retailer Brooks Brothers, which licenses glasses from Luxottica. Designers Claudio Del Vecchio Net Worth Claudio Del Vecchio Net Worth 2020, Age, Height, Relationships, Married, Dating, Family, Wiki Biography Brooks Brothers CEO Claudio Del Vecchio told the newspaper that he hasn't ruled out bankruptcy. Lucia and Alberto Giovanni (installed as chairman and vice-chairman, respectively) were convicted of tax fraud and money laundering in 2016, receiving prison sentences of 10 and 7.5 years. Offerings at the upscale Seattle-based retailer will be skewed toward a contemporary customer, which calls for a modern mix of slim-fitting suits, narrow ties, less voluminous shirts and campus-inspired sportswear. Even when he lived in Italy, the American brand intrigued him. Estimated net worth: $6.5 billion (£5 billion). “Claudio has found a way to restore the nostalgia we all felt for ‘our father’s Brooks Bros.’ while making the brand entirely relevant and modern,” says Bryant. Estimated net worth: $12.4 billion (£9.5 billion). “From Day One, we knew that the benefit from adding systems and improving the sourcing could justify the acquisition,” he says. Since 2001, when he bought the struggling Brooks Bros. from Marks & Spencer for the bargain-basement price of $225 million, he has worked aggressively to upgrade its merchandise mix, renovate its fleet of stores, expand the franchise overseas and spearhead the company’s first designer label, Black Fleece, created in collaboration with Thom Browne. Del Vecchio has also collaborated with Janie Bryant, the costume designer for Mad Men, to produce clothes for the show as well as a Brooks Bros. Mad Men Edition suit that sold out in 10 days. “I admire much of what he has been able to accomplish.”, No doubt his boldest accomplishment was the launch of Black Fleece, a collection that combined classic Brooks Bros. fabrics and tailoring with the edgy, shrunken silhouette of Thom Browne. If most of the billionaires on this list were given a rather large helping hand by their parents, then consider the case of Leonardo Del Vecchio. “We actually had to sit down with the SEC, since there were no rules for this type of thing.” (Luxottica later went public in Italy, as well.). Claudio Del Vecchio (born 1956/1957) is an Italian businessman and the chairman, CEO, and owner of Brooks Brothers Group, Inc, the holding company of Brooks Brothers.. His father Leonardo Del Vecchio is the billionaire founder of Luxottica, and Claudio has been called his "heir apparent". But Del Vecchio views it from another perspective. Name/Company. Under Giuseppe’s charge, the company has struck successful distribution and manufacturing deals with other market giants, such as Kenwood and Braun, while the family line looks safe; son Fabio is the company’s current CEO. Then, in 1990, he spearheaded Luxottica’s public offering on the New York Stock Exchange. Caffeine aficionados will likely be familiar with De’Longhi coffee, of which Giuseppe – president of parent company De’Longhi SpA – is in charge. Estimated net worth: $3.5 billion (£2.7 billion). Del Vecchio still remembers the date on which he accomplished his mission: “For nine months I drove back and forth, and on April 1, 1982, we opened the subsidiary.”, A week later, he was sent to America to help manage the company’s U.S. distribution. Del Vecchio owns more than 62% of the shares in Luxottica. Brooks is the source of many men’s wear innovations now taken for granted. He partnered with Claudio Del Vecchio for the venture. References Although his name is now a global byword for luxury and exuberance, Giorgio Armani’s early years couldn’t have been more different. After taking over the family wholesaling business in Naples in 1977, Stefano Pessina – a nuclear engineering graduate from the prestigious Politecnico di Milano – decided to transform his company into Alliance Santé, guiding it through a series of large-scale mergers and acquisitions in the last 40 years to eventually create Walgreens Boots Alliance. He is still responsible for the day-to-day running of the company and is yet to name a successor for when he eventually steps down. Since buying the company, Roberti says, the current ceo “has done a fantastic job of improving the quality and delivery of the product.”, Also impressed is Joseph Gromek, another former Brooks ceo, now president and ceo of Warnaco Group. Looks to Washington with Horror and hope, after D.C a flagship hotel at the Burj Khalifa in Dubai on... 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