claudio del vecchio net worth

Sometimes Debra goes by various nicknames including Debra A Delvecchio, Debra A Nuzzi, Debra Ann Del, Debra Ann Del Vecchio and Debra Ann Delvecchio. His awareness of Brooks Bros. came long before that, though. 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. “I’m a very patriotic man,” he says with an understated smile. “This business doesn’t end with us,” he says. An Elite CafeMedia Publisher - Update Privacy Preferences. By now, the answer is unmistakable: Not only did old customers return, but Del Vecchio also found new ones—especially overseas. “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). Indeed, the combined total of these 10 fortunes alone is $94.7 billion (£72.9 billion)! Del Vecchio's father peddled vegetables on the streets of Milan and died before he was born. What are other names he uses? Get all the top news stories and alerts straight to your inbox. 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. Still, turning the business around would mean a massive overhaul. Leonardo Del Vecchio was born on May 22, 1935 in Milan, Italy, Italy. Despite its conservative image, the retailer has a remarkable instinct for change. Brooks Brothers CEO Claudio Del Vecchio told the newspaper that he hasn't ruled out bankruptcy. 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. This year, the company will pass $1 billion in sales and turn a tidy profit. 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 … 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 ranks among the richest men in the world with an estimated net worth of $19.6 billion as of June 2019. (“It wasn’t a friendly acquisition,” he says with his usual matter-of-fact candor.) Fashion Looks to Washington With Horror and Hope, After D.C. 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. What would you do with that kind of money? 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. Currency conversions are based on rates supplied by XE.com. Summary: Debra Delvecchio is 63 years old and was born on 10/12/1957. But Del Vecchio’s life took a sharp turn after 1995, when Luxottica acquired U.S. Shoe, which owned the LensCrafters retail chain. Following the acquisition of Perfetti Van Melle’s shareholdings in 2001, the company has established itself as the third largest confectionery manufacturer in the world after Mondelez International and Mars, Inc. So, if you’re wondering who has amassed the biggest fortune, then read on – here are the 10 richest Italians, according to Forbes. 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). VP/Chief Marketing Officer. But Del Vecchio views it from another perspective. Generally speaking, the bigger the hexagon is, the more valuable Claudio Del Vecchio networth should be on the internet! 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. “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. 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. Until then, he plans to stay focused on expanding Brooks Bros.—just don’t ask him how large he wants it to grow. But his modest air is genuine. 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. Since 2005, the brand has also diversified into luxury hotels, including a flagship hotel at the Burj Khalifa in Dubai. Leonardo Del Vecchio (born 22 May 1935) is an Italian billionaire businessman. 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. Estimated net worth: $22.4 billion (£17.2 billion) Last year he ranked 59th on the Forbes billionaires list, which put the senior Del Vecchio’s net worth at $10.5 billion. 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. 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". “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.”. This story first appeared in the March 21, 2011 issue of WWD. 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. Chief Operating Officer. 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. He owns the American clothing retailer Brooks Brothers. Material may not be published, broadcast, rewritten or redistributed without a link to the original content. His experience with the now-defunct women’s chain, which required major investment but lacked brand strength, prompted him to look elsewhere. By then co-ceo of Luxottica with responsibility for the Americas, Del Vecchio had some business dealings with Brooks Bros. around this time when he negotiated the retailer’s eyewear license, the first in its history. Investors in the company's ADRs saw the stock run up 170%, making Del Vecchio's shares worth some $900 million. “During this strategic review, COVID-19 became immensely disruptive and took a toll on our business,” a company spokesperson said. Today his company, Luxottica, owns Ray-Ban and Oakley, the … Leonardo Del Vecchio is married with six children and his son Claudio owns US men's retailer Brooks Brothers, which licenses glasses from Luxottica. Rated as the second richest man in Itlay after Michele Feroro, Del Vecchio has a net worth of US$19.1 billion. Leonardo Del Vecchio, the owner of the Italian eyewear giant Luxottica, is turning 80 on May 22. He was 25 years old and spoke little English, but within four years he increased U.S. sales from $28 million to $100 million. Net worth over time Privacy Policy and “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. 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. “So I went to Marks & Spencer,” he says, “because my impression was that Brooks Bros. wasn’t being taken care of.”. For an Italian to turn around an iconic but declining American brand could be the ultimate men’s wear business challenge. 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. The family has not been without controversy, though. 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. Claudio Del Vecchio. Many of the names on this list have had to work hard to reach the top, however. Where does he work? 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. 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). Ian and Richard are still heavily involved in London and Regional Properties too, however. Brooks is the source of many men’s wear innovations now taken for granted. If most of the billionaires on this list were given a rather large helping hand by their parents, then consider the case of Leonardo Del Vecchio. 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. 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. (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. In fact, experimentation is an integral part of the brand’s tradition. But, despite his low-key manner, Del Vecchio, 52, doesn’t have a go-with-the-flow disposition. The Lewis Family. 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. Estimated net worth: $22.4 billion (£17.2 billion). Why was he so in love with it when he could buy anything he wanted?”, When Del Vecchio arrived in the U.S. in 1982, he says, “the first store I visited was Brooks Bros.…I used to shop in Façonnable in Monaco, which was very inspired by Brooks Bros., so it was a natural step up. Claudio Delvecchio is also known as debra ann del vecchio claudio, claudio del vecchio, claudio del veccho and claudio delveachio. 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 “From Day One, we knew that the benefit from adding systems and improving the sourcing could justify the acquisition,” he says. Despite turning 84 last year, the King of Fashion shows no signs of slowing down, either. Another passion is good food. “Claudio has a great deal of respect for this great American institution,” he says. 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. Since 2001, when he bought the struggling Brooks Bros. from Marks & Spencer for the bargain-basement price of $225 million, he has worked aggressively to upgrade its merchandise mix, renovate its fleet of stores, expand the franchise overseas and spearhead the company’s first designer label, Black Fleece, created in collaboration with Thom Browne. Surprisingly, Del Vecchio was a complete gentleman, and having worked with a lot of the high-net-worth, that's most unusual. 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. 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. 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. “But the biggest question mark was, would the customers come back—or were they gone forever?”. Vivien Kronengold. “Claudio has truly embraced the heritage of Brooks Bros.,” the designer says, “and evolved the brand and business in a very respectful way.”. Name/Company. Mauro Calderan. He made his 22000 million dollar fortune with Sunglass Hut, LensCrafters, Ray-Ban, Oakley. Estimated net worth: $3.5 billion (£2.7 billion). The Wall Street Journal. After a shaky start, the label gained traction, and its sales were expected to hit $10 million last year. Estimated net worth: $3.8 billion (£2.9 billion). His son, Claudio, owns the storied men's retailer Brooks Brothers. Later this year, in another unprecedented move, the company will venture into wholesale department store distribution. 6 (Claudio, Clemente, Leonardo, Marisa, Luca and Paola) About Leonardo Del Vecchio Leonardo Del Vecchio is an Italian businessman. He may love playing golf and watching soccer. Ferrero himself is married with two children and currently resides in Brussels, Belgium. 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. Estimated net worth: $12.4 billion (£9.5 billion). 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 boat is not available for yacht charter. 1. 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. 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. 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. “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. address: The Black Church, St. Mary’s Place, Dublin 7, Ireland. 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. Terms of Use. Ian also owns Brightark, which is another investment company. As you will see, these billionaires and business tycoons come from all types of backgrounds, having found success in industries as diverse as confectionery, eyewear and designer goods. Previous to Debra's current city of Oyster Bay, NY, Debra Delvecchio lived in Suffield CT and Avon CO. 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. Given his Italian accent—he was born in Borgo Valsugana, a small town in northern Italy—Del Vecchio might not be expected to have his finger on the pulse of American culture. Link to the original content Florence overturned this verdict, clearing the siblings of any wrongdoing brand could be ultimate... Billion in sales and turn a tidy profit check out Thomas Keneally 's worth! And he is still responsible for the venture 's net worth: $ billion... Married to, his starsign is Gemini and he is the source of many men ’ s,... Diversified into luxury hotels, including a flagship hotel at the Burj Khalifa in Dubai claudio Vecchio... 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