Italy’s inherent sense of style has long made it the home for businesses exploiting the consumer’s love affair with fashion. Nowhere has this been more obvious than in the eyewear sector, where the global market for the production of face furniture has been more or less carved up by two Italian players, Luxottica and Safilo.

The two businesses are located close to each other in the north-east Veneto region, home to many rich entrepreneurial families. But the companies’ recent track records could not be more different. While Luxottica has gone from strength to strength, Safilo has lost its way and struggled to convince the market since its 2005 flotation. As ever, the divergence in fortunes of the two companies has a lot to do with leadership. Leonardo Del Vecchio’s reign at Luxottica has been understated yet consistently confident. Luxottica has continued to reinforce its global leadership even during the recent crisis.