Delfin S.àr.l. is a Luxembourg-based investment holding company controlled by the Del Vecchio family and founded by Leonardo Del Vecchio in 2006. It serves as the vehicle for managing the groupâÂÂs industrial, financial, and real estate holdings, separating ownership from operational management.
Delfin traces its origins to an earlier financial entity, Leonardo Finanziaria, established in 1990 to manage proceeds from LuxotticaâÂÂs listing on the New York Stock Exchange, estimated at around US$80 million. Between 2004 and 2006, Leonardo Del Vecchio reorganized his investments under the Luxembourg-based Delfin S.àr.l. with the goal of consolidating the familyâÂÂs assets and entrusting management to professional executives.
Initially controlling approximately 68% of Luxottica, Delfin became the reference shareholder of EssilorLuxottica following the 2017 merger with Essilor International, holding around 32% of shares and 31% of voting rights.
Upon Leonardo Del VecchioâÂÂs death on 27 June 2022 in Milan, his will provided for an equal division of Delfin S.àr.l. â the family holding that owns all the equity interests and liquidity of the Del Vecchio family â among his wife and children. According to an official statement by Delfin, each heir received a 12.5% stake in the company.
The heirs are: Nicoletta Zampillo Del Vecchio (spouse), Claudio Del Vecchio, Marisa Del Vecchio, Paola Del Vecchio, Leonardo Maria Del Vecchio, Luca Del Vecchio, Clemente Del Vecchio, and Rocco Basilico, the son of Nicoletta Zampillo from her previous marriage to Paolo Basilico.
Del Vecchio did not designate a successor as Chairman of Delfin. In accordance with the companyâÂÂs bylaws, the board of directors was empowered to decide whether to appoint a new chairman. In 2023 the Board elected Francesco Milleri as Chairman of Delfin S.àr.l., ensuring strategic continuity with the founderâÂÂs vision.
As of 2025, DelfinâÂÂs Board includes Chairman Francesco Milleri, CEO Romolo Bardin, notary Mario Notari, Aloyse May, and Giovanni Giallombardo.
At the time of Del VecchioâÂÂs death, the total assets of the holding were estimated at over â¬30 billion.
Since 2022, Delfin has been chaired by Francesco Milleri, President and CEO of EssilorLuxottica, while Romolo Bardin serves as Chief Executive Officer of the holding. The governance model reflects Leonardo Del VecchioâÂÂs intention to maintain family ownership while delegating executive management to trusted professionals.
As of 2025, Delfin S.ÃÂ r.l. holds stakes across several sectors:
In 2024, Delfin reported net profits of â¬1.393 billion, more than doubling the previous yearâÂÂs result (+105%). Dividend revenues totaled over â¬1.144 billion, a 29% increase from 2023. The total value of assets owned exceeded â¬55 billion as of 2025, up from approximately â¬45 billion in 2024 (+31% year-on-year).