Del Vecchio: rags-to-riches-to-mega merger
The 46-billion euro tie-up between his Luxottica and Essilor creates a global powerhouse in the fast-growing 95-billion euro industry and family is kept at arms length
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Milan
BY SEALING one of the biggest European merger deals of recent years, 81-year old spectacles tycoon Leonardo Del Vecchio has added another chapter to one of Italy's most legendary rags-to-riches stories.
The 46-billion euro (S$70 billion) tie-up between Del Vecchio's Luxottica and France's Essilor creates a global powerhouse in the fast-growing 95-billion euro industry, in which the Italian entrepreneur will be the biggest shareholder.
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