He may love playing golf and watching soccer. In 2005, in partnership with Claudio Del Vecchio, the President of the Retail Brand Alliance, he agreed to open Brooks Brothers stores in the United Kingdom. He owns the American clothing retailer Brooks Brothers. And the yacht is not listed for sale. This story first appeared in the March 21, 2011 issue of WWD. “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). His awareness of Brooks Bros. came long before that, though. “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. 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. The only thing we can take with us is our reputation and hope that the people who come after us will remember us.”. Claudio Delvecchio is also known as debra ann del vecchio claudio, claudio del vecchio, claudio del veccho and claudio delveachio. 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. Estimated net worth: $22.4 billion (£17.2 billion) The Lewis Family. © Copyright 2021  -  Penske Media Corporation. ©2020 DeltaQuest Media. 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. Educated at the renowned Bocconi University business school in Milan, Luca Garavoglia has served as the chairman of the Campari Group since 1994, taking responsibility for the beverage giant’s aggressive acquisition and growth strategies of the late 1990s and early 2000s. The economist is married to, his starsign is Gemini and he is now 85 years of age. “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.”. An Elite CafeMedia Publisher - Update Privacy Preferences. 6 (Claudio, Clemente, Leonardo, Marisa, Luca and Paola) About Leonardo Del Vecchio Leonardo Del Vecchio is an Italian businessman. “After that, most of the other [interested] companies disappeared, and we ended up paying less than we thought we would,” Del Vecchio says. “I’m a very patriotic man,” he says with an understated smile. 1. Most photos on this page by Raphael Belly Photography. 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. Claudio Del Vecchio is Chairman/CEO/Owner at Brooks Brothers Inc. See Claudio Del Vecchio's compensation, career history, education, & memberships. But don’t expect Brooks’ storied sack suit. 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. He wore Brooks Bros. shirts, so I had a curiosity about it. 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". “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. “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. Until then, he plans to stay focused on expanding Brooks Bros.—just don’t ask him how large he wants it to grow. Then, in 1990, he spearheaded Luxottica’s public offering on the New York Stock Exchange. 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. Under Giovanni’s astute leadership, the company has since added several Nestlé brands, as well as numerous confectionery brands in the North American market, to this impressive portfolio. 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. But his modest air is genuine. 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. Rated as the second richest man in Itlay after Michele Feroro, Del Vecchio has a net worth of US$19.1 billion. Despite its conservative image, the retailer has a remarkable instinct for change. By now, the answer is unmistakable: Not only did old customers return, but Del Vecchio also found new ones—especially overseas. His experience with the now-defunct women’s chain, which required major investment but lacked brand strength, prompted him to look elsewhere. 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. Surprisingly, Del Vecchio was a complete gentleman, and having worked with a lot of the high-net-worth, that's most unusual. That makes him the second richest man (after chocolate mogul Michele Ferrero) in Italy. 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. 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.”. 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. 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. In 2017, meanwhile, he sold the AC Milan football club (of which he had retained ownership for 31 years) to a Chinese investment group for €740 million ($835.5 million/£640.2 million). Estimated net worth: $6.5 billion (£5 billion). Del Vecchio isn’t shy about admitting he’s “an excellent chef”—he even opened a restaurant in the Nineties, when he lived in Hartford because the local eateries failed to meet his high standards. Material may not be published, broadcast, rewritten or redistributed without a link to the original content. 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. His son, Claudio, owns the storied men's retailer Brooks Brothers. Terms of Use. We had a very nice talk and I learned he loses money on my favorite gotta-iron oxford button down made in Garland, NC. Today, the retailer operates more than 116 full-price and 101 factory outlet stores in the U.S. and some 175 stores in other countries, with the highest concentration in Japan (77), China (32), Hong Kong (13) and the U.K. (4). Del Vecchio owns more than 62% of the shares in Luxottica. Brooks Brothers CEO Claudio Del Vecchio told the newspaper that he hasn't ruled out bankruptcy. What are other names he uses? Estimated net worth: $8.5 billion (£6.5 billion). Del Vecchio's father peddled vegetables on the streets of Milan and died before he was born. 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. Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy, Italy. Now 77, Pessina resides in Monte Carlo with his partner Ornella Barra, the co-COO of Walgreens Boots Alliance. 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. He was 25 years old and spoke little English, but within four years he increased U.S. sales from $28 million to $100 million. Even when he lived in Italy, the American brand intrigued him. Brooks Bros. has also opened stores in Milan, Paris, Athens, Chile and Mexico. So, clearly, does Del Vecchio. Today his company, Luxottica, owns Ray-Ban and Oakley, the … Estimated net worth: $7.4 billion (£5.7 billion). “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. Born into a working-class Piacentini family, the fashion mogul spent time at medical school as well as in the army, before finding work as a window dresser in a Milan department store in 1957. All rights reserved. Ferrero himself is married with two children and currently resides in Brussels, Belgium. 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. Fashion Looks to Washington With Horror and Hope, After D.C. “From Day One, we knew that the benefit from adding systems and improving the sourcing could justify the acquisition,” he says. Message to Other Media. Estimated net worth: $19.8 billion (£15.2 billion). One of the most controversial and enigmatic characters in Italian and European politics, Silvio Berlusconi made his fortune through his media conglomerate Fininvest, before serving the first of his three terms as Prime Minister of Italy in 1994. Board Members. 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. 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. In fact, experimentation is an integral part of the brand’s tradition. Please fill out this field with valid email address. “I admire much of what he has been able to accomplish.”, No doubt his boldest accomplishment was the launch of Black Fleece, a collection that combined classic Brooks Bros. fabrics and tailoring with the edgy, shrunken silhouette of Thom Browne. “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. Leonardo Del Vecchio is married with six children and his son Claudio owns US men's retailer Brooks Brothers, which licenses glasses from Luxottica. 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 Delvecchio net worth is Greater than $499,999. 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. 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. 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. The yacht’s owner is Leonardo Del Vecchio. By 2006, they had opened one on Old Broad Street and another one on Regent Street, with plans to open a dozen more. Spris is now closed, but Del Vecchio doesn’t rule out the possibility of opening another restaurant. 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. But he is proud of the roots he has planted in this country. Summary: Debra Delvecchio is 63 years old and was born on 10/12/1957. 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. Despite turning 84 last year, the King of Fashion shows no signs of slowing down, either. Net worth over time Since 2005, the brand has also diversified into luxury hotels, including a flagship hotel at the Burj Khalifa in Dubai. “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. Last spring he inked a long-term deal with Scotland’s celebrated St. Andrews Links golf course to produce a line of golfwear. Still, turning the business around would mean a massive overhaul. 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. 548227, reg. Currency conversions are based on rates supplied by XE.com. 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. Previous to Debra's current city of Oyster Bay, NY, Debra Delvecchio lived in Suffield CT and Avon CO. Built entirely upon a secret cocoa-hazelnut recipe called Pasta Gianduja – or, as the rest of the world now calls it, Nutella – the Ferrero empire is a global multibillion-dollar venture that is currently headed up by Giovanni Ferrero, the grandson of company founder Pietro. Del Vecchio recently formed a partnership with Nordstrom, which in July will begin selling Brooks Bros. men’s and children’s wear in about 30 stores as well as online. Where does he work? His net worth is estimated at US$ 21 billion. “This business doesn’t end with us,” he says. 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. Leonardo Del Vecchio (born 22 May 1935) is an Italian billionaire businessman. What would you do with that kind of money? After a shaky start, the label gained traction, and its sales were expected to hit $10 million last year. Name/Company. As the co-owners of confectionary giants Perfetti Van Melle, brothers Augusto and Giorgio Perfetti are responsible for providing the world with a number of renowned products; Mentos, Fruittella and Chupa Chups (acquired in 2006) are all now produced under the Perfetti Van Melle umbrella. The two brothers – who are both notoriously media-shy – now live in Switzerland and maintain no involvement in the day-to-day running of the business. Estimated net worth: $12.4 billion (£9.5 billion). Leonardo Del Vecchio, the owner of the Italian eyewear giant Luxottica, is turning 80 on May 22. For an Italian to turn around an iconic but declining American brand could be the ultimate men’s wear business challenge. Estimated net worth: $6.3 billion (£4.8 billion). The transition from customer to owner wasn’t even on the horizon at that point. Let us know in the comments below! I didn’t have to change my style.”. 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. “We were the first foreign company to go public in the U.S. before we went public in our own country,” he notes. Estimated net worth: $3.5 billion (£2.7 billion). CareerAddict is a registered trademark of DeltaQuest Media. Lucia and Alberto Giovanni (installed as chairman and vice-chairman, respectively) were convicted of tax fraud and money laundering in 2016, receiving prison sentences of 10 and 7.5 years. In a country that is iconic for its exuberant luxury, including high-end Milanese fashion, traditional cuisine and Tuscan wine, it’s perhaps not surprising that Italy is also home to some of the world’s wealthiest people. address: The Black Church, St. Mary’s Place, Dublin 7, Ireland. By subscribing, you agree to our 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. 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. “During this strategic review, COVID-19 became immensely disruptive and took a toll on our business,” a company spokesperson said. Mauro Calderan. 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. Many of the names on this list have had to work hard to reach the top, however. He is the richest man in Italy. Vivien Kronengold. In 1997, he was named ceo of Casual Corner, a struggling women’s apparel chain, and he resigned from Luxottica. , not back ( £17.2 billion ) this year, the label gained,. With Scotland ’ s apparel chain, which required major investment but lacked brand strength, him! 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