EssilorLuxottica backs Del Vecchio as hacking investigation intensifies

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EssilorLuxottica has expressed its “full support” to strategy director Leonardo Maria Del Vecchio, the of the late founder son, after Milan prosecutors placed him under investigation as part of an extensive probe into alleged trafficking in illegally acquired private information.

“Leonardo Maria is doing a great job in his role at EssilorLuxottica and has our full support at this difficult time,” the company told the Financial Times.

Prosecutors said at a news conference Saturday that four people had been arrested and dozens, including Del Vecchio, had been placed under investigation. Milanese investigators are investigating whether individuals paid a local business intelligence company, Equalize, to allegedly hack state databases (including those of tax authorities), plant Trojan viruses on people’s phones and fabricate false information about people. high profile to tarnish his reputation.

EssilorLuxottica It is not part of the investigation.

The researchers’ move comes at a delicate time for EssilorLuxottica, the maker of Oakley and Ray-Ban sunglasses whose valuation reached more than €100 billion last week. Facebook owner Meta has also been in talks with the group. on a multi-million dollar investment as the social media platform steps up its push to develop smart glasses.

The investigation has led Del Vecchio to consider temporarily stepping back from his duties as EssilorLuxottica’s chief strategy officer, according to people close to the situation. Two others said the company was not pressuring him to do so.

Del Vecchio’s attorney, Maria Emanuela Mascalchi, said in a statement that her client “appears to be a victim (rather than a perpetrator) in light of the initial allegations.”

He added that Del Vecchio was “impatiently awaiting the completion of the preliminary investigations to be able to demonstrate that he has nothing to do with the events in question and that the charges against him are unfounded.”

Investigators are investigating whether two people who worked for Del Vecchio’s family office gave instructions to Equalize, people close to the investigation told the Financial Times. Investigators have evidence of multiple meetings between Del Vecchio family office executives and Equalize staff in 2023, the people said.

The prosecutor’s office declined to comment further on the investigation. On Saturday it said four Equalize employees, including its founder and chief executive, had been arrested as part of the ongoing investigation. So far there are no formal conclusions of irregularities.

Calls to Equalize’s office seeking comment were not returned on Sunday.

A spokesman for the Del Vecchio family office declined to comment.

Del Vecchio is the son of the late Italian billionaire Leonardo Del Vecchio. After his father’s death in 2022, Leonardo María inherited a 12.5 percent stake, valued at about $5 billion, in the Luxembourg-based family holding company Delfin, along with his mother and six half-siblings.

In addition to its stake in EssilorLuxottica, Delfin also owns shares in financial institutions Generali, Mediobanca and UniCredit.

Del Vecchio has recently made investments through his family office in a number of businesses, including the hospitality and beverage sectors, and has launched a popular luxury restaurant brand in Italy.