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 Leonardo Del Vecchio started the company 2017-03-10



Leonardo Del Vecchio started the company in 1961, in Agordo north of Belluno, Italy; today the company is headquartered in Milan.

Del Vecchio began his career as the apprentice to a tool and die maker in Milan, but decided to turn his metalworking skills to making spectacle parts. So in 1961, he moved to Agordo in the province of Belluno, which is home to most of the Italian eyewear industry. The new company was Luxottica s.a.s., a limited partnership with Del Vecchio as one of the founding partners. In 1967, he started selling complete eyeglass frames under the Luxottica brand, which proved successful enough that by 1971 he ended the contract manufacturing business.

Convinced of the need for vertical integration, in 1974, he acquired Scarrone, a distribution company. In 1981 the company set up its first international subsidiary, in Germany, the first in a rapid period of international expansion.[6] The first of many licensing deals with a designer was struck with Armani, in 1988

The company listed in New York in 1990,[9] and in Milan in December 2000,[10] joining the MIB-30 (now FTSE MIB) index in September 2003.The listing raised money for the company and allowed it to use its shares to acquire other brands, starting with Italian brand Vogue Eyewear in 1990, Persol and US Shoe Corporation (LensCrafters) in 1995, Ray-Ban in 1999 and Sunglass Hut, Inc. in 2001. Luxottica later increased its presence in the retail sector by acquiring Sydney-based OPSM in 2003, Pearle Vision and Cole National in 2004.

The company also acquired Oakley in a US$2.1 billion deal in November 2007, and in August 2011 Erroca for €20 million

In March 2014, it was announced that Luxottica would partner with Google on the development of Google Glass and its integration into Luxottica's eyewear.

On the 1st September 2014, a new organizational structure was announced, composed of two co-CEOs, one focusing on market development and the other overseeing corporate functions. After the exit of former CEO Andrea Guerra, Enrico Cavatorta was appointed CEO of Corporate Function and Interim CEO of Market (until new and permanent appointment to this role).

 THE DESCRIPTION 2017-03-10



The company listed in New York in 1990,[9] and in Milan in December 2000,[10] joining the MIB-30 (now FTSE MIB) index in September 2003.The listing raised money for the company and allowed it to use its shares to acquire other brands, starting with Italian brand Vogue Eyewear in 1990, Persol and US Shoe Corporation (LensCrafters) in 1995, Ray-Ban in 1999 and Sunglass Hut, Inc. in 2001. Luxottica later increased its presence in the retail sector by acquiring Sydney-based OPSM in 2003, Pearle Vision and Cole National in 2004.

The company also acquired Oakley in a US$2.1 billion deal in November 2007, and in August 2011 Erroca for €20 million

In March 2014, it was announced that Luxottica would partner with Google on the development of Google Glass and its integration into Luxottica's eyewear.

On the 1st September 2014, a new organizational structure was announced, composed of two co-CEOs, one focusing on market development and the other overseeing corporate functions. After the exit of former CEO Andrea Guerra, Enrico Cavatorta was appointed CEO of Corporate Function and Interim CEO of Market (until new and permanent appointment to this role).  

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