Rated as the second richest man in Itlay after Michele Feroro, Del Vecchio has a net worth of US$19.1 billion. address: The Black Church, St. Mary’s Place, Dublin 7, Ireland. “This business doesn’t end with us,” he says. 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. 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 … Estimated net worth: $7.4 billion (£5.7 billion). 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. Spris is now closed, but Del Vecchio doesn’t rule out the possibility of opening another restaurant. In 2005, in partnership with Claudio Del Vecchio, the President of the Retail Brand Alliance, he agreed to open Brooks Brothers stores in the United Kingdom. In a country that is iconic for its exuberant luxury, including high-end Milanese fashion, traditional cuisine and Tuscan wine, it’s perhaps not surprising that Italy is also home to some of the world’s wealthiest people. Brooks is the source of many men’s wear innovations now taken for granted. Called Spris, after an Italian aperitif, the place was “very social, like when I was growing up in Italy.”, “My mother’s family was in the hospitality business,” he explains, adding: “Both my grandmother and my mother are unbelievable cooks, so I got very spoiled.”. 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. 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. Let us know in the comments below! Designers Claudio Del Vecchio Net Worth Claudio Del Vecchio Net Worth 2020, Age, Height, Relationships, Married, Dating, Family, Wiki Biography This story first appeared in the March 21, 2011 issue of WWD. Claudio Del Vecchio. Ian also owns Brightark, which is another investment company. Estimated net worth: $6.3 billion (£4.8 billion). Today his company, Luxottica, owns Ray-Ban and Oakley, the … (“It wasn’t a friendly acquisition,” he says with his usual matter-of-fact candor.) Estimated net worth: $19.8 billion (£15.2 billion). I didn’t have to change my style.”. Many of the names on this list have had to work hard to reach the top, however. 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. Generally speaking, the bigger the hexagon is, the more valuable Claudio Del Vecchio networth should be on the internet! Later this year, in another unprecedented move, the company will venture into wholesale department store distribution. 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. Material may not be published, broadcast, rewritten or redistributed without a link to the original content. Estimated net worth: $12.4 billion (£9.5 billion). Estimated net worth: $22.4 billion (£17.2 billion) In fact, experimentation is an integral part of the brand’s tradition. References Ian and Richard are still heavily involved in London and Regional Properties too, however. He ranks among the richest men in the world with an estimated net worth of $19.6 billion as of June 2019. Still, turning the business around would mean a massive overhaul. Vivien Kronengold. Disclamer: Claudio Del Vecchio net worth are calculated by comparing Claudio Del Vecchio's influence on Google, Wikipedia, Youtube, Twitter, Instagram and Facebook with anybody else in the world. “Claudio has done an unbelievable job in reviving this iconic American brand and globalizing its market,” says Gilbert Harrison, chairman of Financo Inc., an investment banking company. 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). “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'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 CareerAddict is a registered trademark of DeltaQuest Media. Del Vecchio's father peddled vegetables on the streets of Milan and died before he was born. Estimated net worth: $8.5 billion (£6.5 billion). In 1997, he was named ceo of Casual Corner, a struggling women’s apparel chain, and he resigned from Luxottica. 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. But Del Vecchio views it from another perspective. Leonardo Del Vecchio's eyewear giant Luxottica announced plans to merge with French lens manufacturer Essilor in January 2017, putting Luxottica's octogenarian founder at the helm of what will be the world's largest producer and retailer of sunglasses and prescription glasses. 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. 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. His son, Claudio, owns the storied men's retailer Brooks Brothers. “He was able to understand the heritage of Brooks Bros. and go back into its archives…to use the past and translate it to the present and the future.”, Bill Roberti, a former Brooks Bros. ceo, remembers Del Vecchio’s passion for the brand when he negotiated the eyewear license with Luxottica. Yacht Charter. He certainly could have had an easy life if he’d wanted one: Del Vecchio is a billionaire whose father has the real money in the family. The grandsons of industrialist Agostino Rocca, Paolo and Gianfelice Rocca are the current stewards of the Techint Group, a multinational conglomerate with interests in construction, engineering, healthcare, energy and steel production. Please fill out this field with valid email address. I enjoy challenges.”. Leonardo Del Vecchio On 22-5-1935 Leonardo Del Vecchio (nickname: Leonardo) was born in Milan, Italy. To meet it, he knew he’d have to look forward, not back. The yacht’s owner is Leonardo Del Vecchio. “I don’t want to become the world’s biggest company, or even a really big company.” Although $1 billion is an impressive milestone, it pales next to retail giants such as Macy’s ($25 billion) or Men’s Wearhouse ($2 billion). The estimated net worth of the Del Vecchio family is $23.3 billion. “After that, most of the other [interested] companies disappeared, and we ended up paying less than we thought we would,” Del Vecchio says. After building his reputation as a designer in the 1960s and 1970s, Armani finally founded his legendary eponymous label in 1975, turning it into a global powerhouse that now features over 60 stores in 37 countries. 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. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. Leonardo Del Vecchio (born 22 May 1935) is an Italian billionaire businessman. Leonardo Del Vecchio is married with six children and his son Claudio owns US men's retailer Brooks Brothers, which licenses glasses from Luxottica. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. Net Worth: £5,6 billion Family Business: Tavistock Group Industry: Investments Prominent Member: Joe Lewis Previous to Debra's current city of Oyster Bay, NY, Debra Delvecchio lived in Suffield CT and Avon CO. As he likes to point out, he bought Brooks Bros. on Thanksgiving, his American wife was born on Columbus Day, and his son Matteo, from a previous marriage, was born on the Fourth of July. Claudio Del Vecchio. 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. 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". Claudio Delvecchio net worth is Greater than $499,999. Card payments collected by DeltaQuest Media, company no. 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. Under his watch, Campari has gone from selling niche products to acquiring some of the world’s most recognisable spirits, including Cinzano and Ouzo 12. An Elite CafeMedia Publisher - Update Privacy Preferences. 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). He was 25 years old and spoke little English, but within four years he increased U.S. sales from $28 million to $100 million. 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. Sometimes Debra goes by various nicknames including Debra A Delvecchio, Debra A Nuzzi, Debra Ann Del, Debra Ann Del Vecchio and Debra Ann Delvecchio. 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. Ferrero himself is married with two children and currently resides in Brussels, Belgium. Although his name is now a global byword for luxury and exuberance, Giorgio Armani’s early years couldn’t have been more different. Another passion is good food. Although some viewed Black Fleece as iconoclastic—especially in 2006, when it was first unveiled—Browne sees it otherwise. “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. Despite turning 84 last year, the King of Fashion shows no signs of slowing down, either. He made his 22000 million dollar fortune with Sunglass Hut, LensCrafters, Ray-Ban, Oakley. 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. Estimated net worth: $3.5 billion (£2.7 billion). 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. 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. Brooks Brothers CEO Claudio Del Vecchio told the newspaper that he hasn't ruled out bankruptcy. “That’s my last motivation,” he says. For an Italian to turn around an iconic but declining American brand could be the ultimate men’s wear business challenge. Brooks Bros. has also opened stores in Milan, Paris, Athens, Chile and Mexico. By then co-ceo of Luxottica with responsibility for the Americas, Del Vecchio had some business dealings with Brooks Bros. around this time when he negotiated the retailer’s eyewear license, the first in its history. “From Day One, we knew that the benefit from adding systems and improving the sourcing could justify the acquisition,” he says. 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. Despite ongoing accusations of a conflict of interest between his media and political careers, Berlusconi – in conjunction with his family – still retains control over his vast media empire. Estimated net worth: $6.5 billion (£5 billion). Now 77, Pessina resides in Monte Carlo with his partner Ornella Barra, the co-COO of Walgreens Boots Alliance. Del Vecchio recently formed a partnership with Nordstrom, which in July will begin selling Brooks Bros. men’s and children’s wear in about 30 stores as well as online. Privacy Policy and He is the richest man in Italy. Leonardo Del Vecchio Net Worth Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy, Italy. By now, the answer is unmistakable: Not only did old customers return, but Del Vecchio also found new ones—especially overseas. Like his father, Del Vecchio worked hard and rose through the ranks, starting at a Luxottica factory when he was 14, and then joining the company full-time after two years of college and an obligatory hitch in the Italian army. Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy, Italy. Terms of Use. But he is proud of the roots he has planted in this country. 1995, Luxottica purchased The United States Shoe Corporation; in 1997, the company was re-named Retail Brand Alliance and subsequently acquired Brooks Brothers, America’s longest established retailer. Brembo / BloombergPaolo (left) and Gianfelice Rocca, Estimated net worth: $4.1 billion (£3.2 billion). 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. But his modest air is genuine. Giovanni Ferrero. By 2006, they had opened one on Old Broad Street and another one on Regent Street, with plans to open a dozen more. 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. Currency conversions are based on rates supplied by XE.com. But Del Vecchio’s life took a sharp turn after 1995, when Luxottica acquired U.S. Shoe, which owned the LensCrafters retail chain. “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. 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. This year, the company will pass $1 billion in sales and turn a tidy profit. “I got to walk into this building 10 years before I bought it,” he recalls. Fashion Looks to Washington With Horror and Hope, After D.C. 548227, reg. 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. “During this strategic review, COVID-19 became immensely disruptive and took a toll on our business,” a company spokesperson said. 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. Brooks Brothers Inc. We had a very nice talk and I learned he loses money on my favorite gotta-iron oxford button down made in Garland, NC. 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. Estimated net worth: $3.8 billion (£2.9 billion). Net worth over time 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. 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. So, clearly, does Del Vecchio. Chief Operating Officer. The Lewis Family. “So I went to Marks & Spencer,” he says, “because my impression was that Brooks Bros. wasn’t being taken care of.”. Still, Del Vecchio says, “I’m not looking for an easy life. 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. Until then, he plans to stay focused on expanding Brooks Bros.—just don’t ask him how large he wants it to grow. Since 2005, the brand has also diversified into luxury hotels, including a flagship hotel at the Burj Khalifa in Dubai. RAISED in an orphanage, Leonardo Del Vecchio started selling spectacles in Belluno in northern Italy in 1967. So, if you’re wondering who has amassed the biggest fortune, then read on – here are the 10 richest Italians, according to Forbes. Both brothers are active in industry organisations and social groups, although Paolo, who lives in Buenos Aires, was indicted by an Argentinian court in November 2018 and forbidden from leaving the country as part of an investigation into a bribery scandal. Leonardo Del Vecchio, the owner of the Italian eyewear giant Luxottica, is turning 80 on May 22. The transition from customer to owner wasn’t even on the horizon at that point. He owns the American clothing retailer Brooks Brothers. Even when he lived in Italy, the American brand intrigued him. 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. As of January 2020, Del Vecchio had a net worth of $25.8 billion, making him the richest man in Italy, and the 50th richest in the world. “We have a healthy respect for the past, but we’re not completely influenced by it,” Del Vecchio says, sitting in his corner office at Brooks Bros.’ Madison Avenue flagship in New York, with a gas fireplace adding warmth to the room. Last spring he inked a long-term deal with Scotland’s celebrated St. Andrews Links golf course to produce a line of golfwear. Check out Thomas Keneally's net worth in US Dollar Jan, 2021. If most of the billionaires on this list were given a rather large helping hand by their parents, then consider the case of Leonardo Del Vecchio. The family has not been without controversy, though. 1. Debra was vice president of operations at Luxottica when they met. What would you do with that kind of money? That makes him the second richest man (after chocolate mogul Michele Ferrero) in Italy. His net worth is estimated at US$ 21 billion. His experience with the now-defunct women’s chain, which required major investment but lacked brand strength, prompted him to look elsewhere. 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. He became the 38th richest man in the world in the year 2014. 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. 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. 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. (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. This story first appeared in the March 21, 2011 issue of WWD. This article is an updated version of an earlier article originally published on 26 January 2015. Notoriously weary of industrial espionage (media are banned from entering the company’s production plants), Ferrero also produces the Kinder range of products as well as Tic Tac mints. “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. Claudio Del Vecchio: The Key to Success is in Learning How to Listen Maria Teresa Cometto (October 22, 2018) Brooks Brothers, America’s oldest apparel brand, celebrated its milestone two hundred year anniversary in collaboration with Pitti Immagine Uomo in Florence, Italy. The Wall Street Journal. He may love playing golf and watching soccer. 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. He holds the shares through his holding company Delfin SARL. ©2020 DeltaQuest Media. Del Vecchio owns more than 62% of the shares in Luxottica. 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. 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. 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. Despite its conservative image, the retailer has a remarkable instinct for change. “It’s one of the most beautifully articulated and longest-running mission statements in American business history,” he says of the retailer’s original guiding principles, which he quotes frequently: “To make and deal only in merchandise of the finest quality, to sell it at a fair profit and to deal with people who seek and appreciate such merchandise.”. He wore Brooks Bros. shirts, so I had a curiosity about it. Surprisingly, Del Vecchio was a complete gentleman, and having worked with a lot of the high-net-worth, that's most unusual. Summary: Debra Delvecchio is 63 years old and was born on 10/12/1957. All rights reserved. Since 2016, the 54-year-old has relinquished his position as Ferrero’s CEO and now oversees the company’s long-term strategy as executive chairman. What are other names he uses? 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. The economist is married to, his starsign is Gemini and he is now 85 years of age. Brooks Brothers’ mission statement has been around for nearly two centuries—since 1818, the year the company was founded—but not many people can recite it from memory. 6 (Claudio, Clemente, Leonardo, Marisa, Luca and Paola) About Leonardo Del Vecchio Leonardo Del Vecchio is an Italian businessman. © Copyright 2021  -  Penske Media Corporation. Get all the top news stories and alerts straight to your inbox. But, despite his low-key manner, Del Vecchio, 52, doesn’t have a go-with-the-flow disposition. 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. 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