Sunglasses Ray-Ban Founder, Leonardo Del Vecchio Is Dead

By Tolulope Oke

Leonardo Del Vecchio, the Billionaire founder of Luxottica an eyewear giant company that owns Ray-ban, Oakley and Sunglass hut died today at Milan’s San Raffaele Hospital in Italy.

Following earlier rumors in the Italian media, his passing was officially announced on Monday by Paris-based Essilor Luxottica, the enormous optical company he founded.

The businessman owned a controlling 32 percent stake in EssilorLuxottica, which was created in 2018 when his Luxottica SpA and French lens manufacturer Essilor merged. The business, which also owns brands like Ray-Ban and makes frames for fashion houses like Armani and Prada, has more than 180,000 workers, global operations, and a presence in the luxury and medical technology industries.

The largest manufacturer of corrective lenses and the top retailer of eyeglasses in the world are both EssilorLuxottica.

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When the business came into a licensing agreement with Giorgio Armani, it accomplished a significant feat. The agreement launched the business’ success, and it soon began to grow both financially and in terms of influence within the fashion industry.

The business went on to acquire other eyewear businesses in the sector, including Persol eyewear in 1999, Vogue eyewear in 1990, Ray-Ban eyeglasses in 1999, and Sunglass Hut in 2001, all under the founder’s direction.

According to Forbes, the current  Leonardo Del Vecchio’s net worth is $24.8 billion.