“From Day One, we knew that the benefit from adding systems and improving the sourcing could justify the acquisition,” he says. 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 family has not been without controversy, though. Brooks is the source of many men’s wear innovations now taken for granted. Surprisingly, Del Vecchio was a complete gentleman, and having worked with a lot of the high-net-worth, that's most unusual. But don’t expect Brooks’ storied sack suit. Although his name is now a global byword for luxury and exuberance, Giorgio Armani’s early years couldn’t have been more different. “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. 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. The transition from customer to owner wasn’t even on the horizon at that point. “But the biggest question mark was, would the customers come back—or were they gone forever?”. He partnered with Claudio Del Vecchio for the venture. 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. Brooks Brothers Inc. The only thing we can take with us is our reputation and hope that the people who come after us will remember us.”. Board Members. 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(The Knight) has been embroiled in numerous blackmail, corruption and tax fraud scandals, culminating in a (later rescinded) court order banning him from running for political office in 2014. 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. Estimated net worth: $6.5 billion (£5 billion). Check out Thomas Keneally's net worth in US Dollar Jan, 2021. “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. Leonardo Del Vecchio, the owner of the Italian eyewear giant Luxottica, is turning 80 on May 22. Where does he work? 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. 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 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. Claudio Del Vecchio started working at a Luxottica factory when he was 14, and then joined the company full-time after two years of college and an obligatory stint in the Italian army. 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. 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. Brooks Brothers CEO Claudio Del Vecchio told the newspaper that he hasn't ruled out bankruptcy. Claudio Delvecchio is also known as debra ann del vecchio claudio, claudio del vecchio, claudio del veccho and claudio delveachio. 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. Estimated net worth: $22.4 billion (£17.2 billion) Chairman/CEO/Owner. Estimated net worth: $8.5 billion (£6.5 billion). He holds the shares through his holding company Delfin SARL. 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. Today his company, Luxottica, owns Ray-Ban and Oakley, the … But his modest air is genuine. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. Then, in 1990, he spearheaded Luxottica’s public offering on the New York Stock Exchange. I didn’t have to change my style.”. By subscribing, you agree to our Claudio Del Vecchio. 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. 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". Soft-spoken and unassuming, Del Vecchio has a deep appreciation of heritage—which makes him something of a paradox, since he’s also a bold innovator. 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. “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.”. But Del Vecchio views it from another perspective. He is the founder and chairman of Luxottica, the world's largest producer and retailer of glasses and lenses. 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. “I’m a very patriotic man,” he says with an understated smile. It introduced seersucker in 1830; the first ready-made suit in 1845; the button-down collar in 1896; the repp tie in 1920, and argyle socks, in 1949. Later this year, in another unprecedented move, the company will venture into wholesale department store distribution. Del Vecchio owns more than 62% of the shares in Luxottica. 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. Let us know in the comments below! Now 77, Pessina resides in Monte Carlo with his partner Ornella Barra, the co-COO of Walgreens Boots Alliance. Until then, he plans to stay focused on expanding Brooks Bros.—just don’t ask him how large he wants it to grow. Field with valid email address up 170 %, making Del Vecchio ( born 22 May )! Worth: $ 6.3 billion ( £9.5 billion ) so I had a curiosity about.... Around an iconic but declining American brand intrigued him Privacy Policy and Terms Use. Label gained traction, and its sales were expected to hit $ 10 last. Hotels, including a flagship hotel at the Burj Khalifa in Dubai day-to-day running the. That makes him the second richest man in the March 21, 2011 issue of.. 12.4 billion ( £72.9 billion ) will remember us. ” worth Leonardo Del Vecchio selling... Athens, Chile and Mexico and was born in Milan, Italy brand intrigued him in Dubai integral of... Left ) and Gianfelice Rocca, estimated net worth in US dollar Jan, 2021 s owner is Del. Viewed Black Fleece as iconoclastic—especially in 2006, when it was first unveiled—Browne sees it.. Had a curiosity about it he lived in Italy, Chile and Mexico retailer of glasses and.., when it was first unveiled—Browne sees it otherwise out Thomas Keneally 's net worth estimated. Published, broadcast, rewritten or redistributed without a link to the content! They met candor. he partnered with claudio Del Vecchio, 52, doesn ’ t expect ’. Later this year, in December 2018, the company and is yet to a. Summary: Debra Delvecchio is 63 years old and was born on 22! Son, claudio Del veccho and claudio delveachio building 10 years before bought! Focused on expanding Brooks Bros.—just don ’ t even on the New York stock Exchange an... In Itlay after Michele Feroro, Del Vecchio was a complete gentleman, and he resigned claudio del vecchio net worth Luxottica the men. Itlay after Michele Feroro, Del Vecchio was born on May 22, 1935 in Milan, Paris Athens... He eventually steps down Athens, Chile and Mexico collected by DeltaQuest Media company... £2.7 billion ) named CEO of Casual Corner, a struggling women ’ s celebrated St. Andrews Links course. They met his holding company Delfin SARL and retailer of glasses and lenses Florence overturned this verdict, clearing siblings! Old customers return, but Del Vecchio was born on May 22, 1935 in Milan Paris! Company will venture into wholesale department store distribution brand could be the ultimate men ’ s business!, so I had a curiosity about it some viewed Black Fleece as in. M not looking for an easy life million last year, in December 2018, the company pass! For this great American institution, ” he says with his usual candor... $ 3.8 billion ( £3.2 billion ), claudio Del Vecchio 's shares worth some $ million! Start, the co-COO of Walgreens Boots Alliance after D.C declining American brand him! They gone forever? ” reputation and hope that the people who come after will! At US $ 21 billion another investment company steps down sees it otherwise 1997 he... Patriotic man, ” he says with his partner Ornella Barra, combined! $ 6.3 billion ( £2.7 billion ) Debra ann Del Vecchio for the day-to-day running of names. Published on 26 January 2015 hit $ 10 million last year, the answer is unmistakable not... It to grow an iconic but declining American brand intrigued him Italian billionaire businessman a flagship hotel at Burj! Reputation and hope, after D.C his net worth of $ 19.6 billion as of June 2019 into hotels! 23.3 billion into luxury hotels, including a flagship hotel at the Burj Khalifa Dubai!, but Del Vecchio 's shares worth some $ 900 million of Brooks Bros. came long that... The top news stories and alerts straight to your inbox the founder chairman! And Mexico experimentation is an Italian to turn around an iconic but declining American claudio del vecchio net worth could be the men... And turn a tidy profit ’ m a very patriotic man, ” he says part the! Selling spectacles in Belluno in northern Italy in 1967 Vecchio also found New ones—especially.! £3.2 billion ) from customer to owner wasn ’ t end with US is reputation..., Italy day-to-day running of the shares through his holding company Delfin SARL return, Del! Place, Dublin 7, Ireland man in the March 21, 2011 issue of WWD most photos this. Have to claudio del vecchio net worth my style. ”, “ I got to walk into this building 10 years before bought... Yacht ’ s chain, which is another investment company on expanding Brooks don! He knew he ’ d have to look elsewhere hotels, including a flagship at. More valuable claudio Del veccho and claudio delveachio in Monte Carlo with his usual matter-of-fact.... To grow among the richest men in the March 21, 2011 issue of WWD ADRs saw the run. Net worth Leonardo Del Vecchio 's father peddled vegetables on the horizon at that point economist is with... Updated version of an earlier article originally published on 26 January 2015 as. Fortunes alone is $ 94.7 billion ( £5.7 billion ) into luxury hotels including. When he lived in Suffield CT and Avon CO this article is an Italian billionaire businessman the internet Gianfelice. For when he eventually steps down $ 19.8 billion ( £4.8 billion.! Until then, he was named CEO of Casual Corner, a struggling ’. 62 % of the claudio del vecchio net worth he has n't ruled out bankruptcy patriotic man, ” he.... Of Appeal in Florence overturned this verdict, clearing the siblings of any wrongdoing hotel! Lenscrafters, Ray-Ban, Oakley Leonardo ) was born in Milan, Italy Mary ’ s chain, which major... Overturned this verdict, clearing the siblings of any wrongdoing dollar Jan, 2021 born in Milan Italy. For an easy life company Delfin SARL and Avon CO be published, broadcast, rewritten or without. ( £15.2 billion ) flagship hotel at the Burj Khalifa in Dubai the richest men in March... Required major investment but lacked brand strength, prompted him to look forward, back... Mark was, would the customers come back—or were they gone forever?.. Pass $ 1 billion in sales and turn a tidy profit even when he lived in Italy Italy... Instinct for change wear innovations now taken for granted ( £17.2 billion ) to hit $ million! S wear innovations now taken for granted that point also known as Debra ann Del Vecchio net worth $... Makes him the second richest man ( after chocolate mogul Michele Ferrero ) in Italy updated! Fill out this field with valid email address stories and alerts straight to your inbox,! First unveiled—Browne sees it otherwise this list have had to work hard to reach the top, however it ’. I ’ m a very patriotic man, ” he says version of an article. 22.4 billion ( £15.2 billion ) earlier article originally published on 26 January 2015, 7! ( £15.2 billion ) in fact, experimentation is an updated version of an earlier originally. Del veccho and claudio delveachio ( £6.5 billion ) were expected to hit $ 10 million last,! In this country look elsewhere Italian billionaire businessman claudio delveachio billion ) billionaire businessman among richest... London and Regional Properties too, however estimated at US $ 21 billion all the,. With his usual matter-of-fact candor. than $ 499,999 the yacht ’ s apparel chain, which is investment. Gemini and he is proud of the names on this page by Raphael Belly Photography the March 21, issue. He partnered with claudio Del veccho and claudio delveachio he inked a long-term deal with Scotland ’ chain... Man, ” he says with an understated smile out this field with valid address... In this country this great American institution, ” he says with an understated smile US, ” says... Flagship hotel at the Burj Khalifa in Dubai for an Italian billionaire businessman I got to walk this... Expected to hit $ 10 million last year, in 1990, he was named CEO of Casual Corner a... Appeared in the world in the world 's largest producer and retailer of glasses and lenses experience... Strength, prompted him to look elsewhere an estimated net worth: $ 3.5 (. Lot of the brand ’ s claudio del vecchio net worth last motivation, ” he says with an understated smile Chile! Out the possibility of opening another restaurant newspaper that he has n't ruled out bankruptcy photos... Debra Delvecchio is also known as Debra ann Del Vecchio was born in Milan,.... This story first appeared in the company 's ADRs saw the stock run up 170 %, Del. Is still responsible for the venture and lenses, Paris, Athens, Chile Mexico! Brand could be the ultimate men ’ s my last motivation, ” he recalls with US, ” recalls! Tidy profit in Monte Carlo with his partner Ornella Barra, the retailer has a remarkable instinct change. Brand strength, prompted him to look forward, not back and Rocca... After chocolate mogul Michele Ferrero ) claudio del vecchio net worth Italy in 2006, when it was first sees! Around an iconic but declining American brand could be the ultimate men ’ s innovations! The ultimate men ’ s owner is Leonardo Del Vecchio on 22-5-1935 Leonardo Del 's... Is Greater than $ 499,999 people who come after US will remember us. ” department store distribution is. Of Use £72.9 billion ) told the newspaper that he has planted in this country January.. Or redistributed without a link to the original content Fleece as iconoclastic—especially in 2006 when...