For an Italian to turn around an iconic but declining American brand could be the ultimate men’s wear business challenge. “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. Although some viewed Black Fleece as iconoclastic—especially in 2006, when it was first unveiled—Browne sees it otherwise. Spris is now closed, but Del Vecchio doesn’t rule out the possibility of opening another restaurant. 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. The Lewis Family. Last spring he inked a long-term deal with Scotland’s celebrated St. Andrews Links golf course to produce a line of golfwear. 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. Check out Thomas Keneally's net worth in US Dollar Jan, 2021. We had a very nice talk and I learned he loses money on my favorite gotta-iron oxford button down made in Garland, NC. He was on his own. “I got to walk into this building 10 years before I bought it,” he recalls. In fact, experimentation is an integral part of the brand’s tradition. 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. 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. So, if you’re wondering who has amassed the biggest fortune, then read on – here are the 10 richest Italians, according to Forbes. 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. Today his company, Luxottica, owns Ray-Ban and Oakley, the … 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. 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. “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. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. Privacy Policy and 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. Designers Claudio Del Vecchio Net Worth Claudio Del Vecchio Net Worth 2020, Age, Height, Relationships, Married, Dating, Family, Wiki Biography “When they look at this business 100 years after we’re gone, I hope the chapter they write about us will be a good one. “During this strategic review, COVID-19 became immensely disruptive and took a toll on our business,” a company spokesperson said. His son, Claudio, owns the storied men's retailer Brooks Brothers. 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. Although the company, founded in Treviso in 1902, originally made its fortune producing heaters, air conditioners and home appliances, it is in 1990 that they became a household name, producing the high-quality coffee machines with which the family name is now synonymous. Material may not be published, broadcast, rewritten or redistributed without a link to the original content. 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. 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. 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. Claudio Del Vecchio. 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. 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. All rights reserved. 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. So, clearly, does Del Vecchio. His net worth is estimated at US$ 21 billion. (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. Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. 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. 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. “But the biggest question mark was, would the customers come back—or were they gone forever?”. “Claudio has a great deal of respect for this great American institution,” he says. This story first appeared in the March 21, 2011 issue of WWD. 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. Net worth over time What are other names he uses? And the yacht is not listed for sale. “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.). 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. 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. Later this year, in another unprecedented move, the company will venture into wholesale department store distribution. Ferrero himself is married with two children and currently resides in Brussels, Belgium. Debra was vice president of operations at Luxottica when they met. 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. Brembo / BloombergPaolo (left) and Gianfelice Rocca, Estimated net worth: $4.1 billion (£3.2 billion). He wore Brooks Bros. shirts, so I had a curiosity about it. That makes him the second richest man (after chocolate mogul Michele Ferrero) in Italy. “It had no distribution there,” he says, “but Gianni Angeli, the chairman of Fiat, was a customer and he was considered a fashion icon. He holds the shares through his holding company Delfin SARL. This story first appeared in the March 21, 2011 issue of WWD. Name/Company. An Elite CafeMedia Publisher - Update Privacy Preferences. Leonardo Del Vecchio, the owner of the Italian eyewear giant Luxottica, is turning 80 on May 22. Currency conversions are based on rates supplied by XE.com. Del Vecchio owns more than 62% of the shares in Luxottica. Claudio Delvecchio net worth is Greater than $499,999. Yacht Charter. 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. Brooks is the source of many men’s wear innovations now taken for granted. Let us know in the comments below! ©2020 DeltaQuest Media. But his modest air is genuine. Most photos on this page by Raphael Belly Photography. Ian and Richard are still heavily involved in London and Regional Properties too, however. “From Day One, we knew that the benefit from adding systems and improving the sourcing could justify the acquisition,” he says. 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. But he is proud of the roots he has planted in this country. His experience with the now-defunct women’s chain, which required major investment but lacked brand strength, prompted him to look elsewhere. 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. The Wall Street Journal. 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. This year, the company will pass $1 billion in sales and turn a tidy profit. 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. Generally speaking, the bigger the hexagon is, the more valuable Claudio Del Vecchio networth should be on the internet! Estimated net worth: $6.3 billion (£4.8 billion). 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. Claudio Del Vecchio is Chairman/CEO/Owner at Brooks Brothers Inc. See Claudio Del Vecchio's compensation, career history, education, & memberships. Brooks Brothers Inc. But Del Vecchio views it from another perspective. Estimated net worth: $7.4 billion (£5.7 billion). “We were the first foreign company to go public in the U.S. before we went public in our own country,” he notes. The family has not been without controversy, though. Claudio Delvecchio is also known as debra ann del vecchio claudio, claudio del vecchio, claudio del veccho and claudio delveachio. “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. He made his 22000 million dollar fortune with Sunglass Hut, LensCrafters, Ray-Ban, Oakley. “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). 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 “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. © Copyright 2021  -  Penske Media Corporation. 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. His awareness of Brooks Bros. came long before that, though. “That’s my last motivation,” he says. 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.”. Estimated net worth: $8.5 billion (£6.5 billion). What would you do with that kind of money? 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. “After that, most of the other [interested] companies disappeared, and we ended up paying less than we thought we would,” Del Vecchio says. Message to Other Media. 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). Now 77, Pessina resides in Monte Carlo with his partner Ornella Barra, the co-COO of Walgreens Boots Alliance. Net Worth: £5,6 billion Family Business: Tavistock Group Industry: Investments Prominent Member: Joe Lewis Ian also owns Brightark, which is another investment company. Giovanni Ferrero. In 2008, he bought Southwick, one of the U.S.’ last remaining men’s wear manufacturers, which had fallen on hard times—a move that saved 300 jobs. 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. Estimated net worth: $12.4 billion (£9.5 billion). 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. (“It wasn’t a friendly acquisition,” he says with his usual matter-of-fact candor.) Chief Operating Officer. The transition from customer to owner wasn’t even on the horizon at that point. Then, in 1990, he spearheaded Luxottica’s public offering on the New York Stock Exchange. Even when he lived in Italy, the American brand intrigued him. Caffeine aficionados will likely be familiar with De’Longhi coffee, of which Giuseppe – president of parent company De’Longhi SpA – is in charge. He is the founder and chairman of Luxottica, the world's largest producer and retailer of glasses and lenses. 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. The boat is not available for yacht charter. 548227, reg. Despite its conservative image, the retailer has a remarkable instinct for change. Another passion is good food. 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: $19.8 billion (£15.2 billion). Leonardo Del Vecchio—raised in an orphanage because his widowed mother couldn’t afford to support him—is the founder of Luxottica, the world’s largest eyewear company. Del Vecchio's father peddled vegetables on the streets of Milan and died before he was born. RAISED in an orphanage, Leonardo Del Vecchio started selling spectacles in Belluno in northern Italy in 1967. 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. 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. Sometimes Debra goes by various nicknames including Debra A Delvecchio, Debra A Nuzzi, Debra Ann Del, Debra Ann Del Vecchio and Debra Ann Delvecchio. 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. But, despite his low-key manner, Del Vecchio, 52, doesn’t have a go-with-the-flow disposition. He was 25 years old and spoke little English, but within four years he increased U.S. sales from $28 million to $100 million. 1. Still, Del Vecchio says, “I’m not looking for an easy life. Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy, Italy. Subscribe Today. Leonardo Del Vecchio (born 22 May 1935) is an Italian billionaire businessman. He may love playing golf and watching soccer. Indeed, the combined total of these 10 fortunes alone is $94.7 billion (£72.9 billion)!

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