The Luxottica Dynasty's Quiet Battle for Control

Two years after Leonardo Del Vecchio's death, his six children are quietly maneuvering for control of the world's largest eyewear empire.

One of the founder's sons plans to acquire his siblings' stakes in Delfin, the holding company that controls 32.3% of EssilorLuxottica, according to a source familiar with the matter reported by Reuters. At stake: a €100 billion empire that owns virtually every major eyewear brand you know.

More Than Just Designer Glasses

EssilorLuxottica isn't just another luxury conglomerate. It's the company behind Ray-Ban, Oakley, Persol, and thousands of retail locations including LensCrafters and Sunglass Hut. When you buy prescription glasses or designer sunglasses anywhere in the world, there's a good chance your money flows back to this Italian giant.

The numbers are staggering. The company generates over €24 billion in annual revenue and employs more than 190,000 people globally. Del Vecchio built this from a small workshop in 1961 into a vertically integrated powerhouse that controls everything from lens manufacturing to retail distribution.

The Succession Dilemma

Del Vecchio's death at 87 created a classic family business puzzle: how do you transfer control of a massive public company when ownership is split among six heirs with potentially different visions?

Currently, eldest son Claudio Del Vecchio chairs Delfin, but sources suggest philosophical differences among the siblings about the company's future direction. Some favor aggressive expansion into digital eyewear and smart glasses, while others prefer the traditional luxury approach that built the empire.

This isn't unusual for European family enterprises. Unlike American corporate dynasties that often go public quickly, European families tend to maintain control longer, creating more complex succession dynamics.

The Ripple Effects

For investors, this succession battle matters beyond family drama. EssilorLuxottica stock has underperformed luxury peers partly due to succession uncertainty. A clear resolution could unlock value, while prolonged family disputes might hamper strategic decisions in a rapidly evolving market.

The eyewear industry faces disruption from direct-to-consumer brands like Warby Parker and tech giants developing smart glasses. Apple's rumored entry into AR glasses could reshape the entire sector. Family infighting is the last thing EssilorLuxottica needs while navigating these challenges.