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“Mr Ray Ban”, Leonardo del Vecchio, has died

He died at the age of 87 Leonardo del Vecchio, president of the optics company EssilorLuxottica and one of its richest businessmen Italy.

Del Vecchio, from a child in an orphanage, went on to build a fortune of tens of billions of euros, reports the cnbc.

Italian businessman founded Luxottica in 1961, set up a company owned by the brand Ray-Ban and joined forces with French Essilor in a major merger in 2018. The company, which owns the brands Ray-Ban and Oakley and manufactures frames for luxury homes such as Armani and Pradais also the world’s leading eyewear retailer and largest lens maker.

At the same time, it was the largest shareholder of the Italian financial services company Mediobanca, while it had a 10% stake in the largest Italian insurance company, Generali.


Source: News Beast

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