Early Life
Paola Del Vecchio is the daughter of Leonardo Del Vecchio, the founder of Luxottica, a company that revolutionized the eyewear industry. Born in Milan, Italy, she is one of three children from Leonardo Del Vecchio's first marriage. Her early life was intertwined with the growth of Luxottica, witnessing its transformation from a small workshop into a global powerhouse.
Rise to Success
Paola Del Vecchio's path to wealth was significantly influenced by her father's success. She inherited a 12.5% stake in Delfin, a Luxembourg-based holding company, following Leonardo Del Vecchio's death in 2022. Delfin holds shares in EssilorLuxottica, as well as other significant holdings. This inheritance positioned her as a key shareholder in EssilorLuxottica, the result of the merger between Luxottica and Essilor in 2018. This merger created a vertically integrated giant in the eyewear industry, encompassing design, manufacturing, distribution, and retail.
Key Business Strategies
While not directly involved in the day-to-day operations, Del Vecchio's wealth is tied to the strategic decisions of EssilorLuxottica. The company's strategy focuses on innovation, particularly in lens technology, and expanding its global presence through both organic growth and acquisitions. EssilorLuxottica's diverse portfolio includes renowned brands such as Ray-Ban, Oakley, and Persol, which contributed to robust brand loyalty and market share. The company's focus on innovation and market expansion is crucial for maintaining its position as a global leader in the industry.
Philanthropy
While specific amounts of Paola Del Vecchio's personal philanthropy are not readily available, EssilorLuxottica, the company in which she is a major shareholder, is involved in various philanthropic initiatives. The OneSight EssilorLuxottica Foundation, launched in March 2022, provides vision care to underserved communities globally.
