Milleri's EssilorLuxottica is no longer popular with the market: it has lost 47% since November. Financial turmoil is penalizing the stock.

All that glittered in Milleri's management was not gold Essilor Luxottica, the Italian-French jewel built with genius by Leonardo DelVecchio which today employs over 200 thousand people and which in Bag It's worth 78 billion euros. The stock market itself is presenting the bill to the executive chairman and CEO of the multinational eyewear company, Francesco Milleri, to the shareholders and above all to the quarrelsome heirs of Del Vecchio trapped in the holding company impasse Dolphin which is mercilessly jeopardizing its future and which will face a crucial shareholders' meeting on June 30th. Since November, EssilorLuxottica, which is Delfin's most important asset, with a 32% stake, has lost 48% on the stock market, undermining Milleri's supposed miraculous powers. Let's be clear: EssilorLuxottica's fundamentals remain solid, but the luxury crisis, growing competition in theeyewear and the lack of a clear strategy are weighing more and more heavily. And, in the eyes of the market, Milleri's growing distractions for his new love weigh most heavily: finance where – through Delfin – he has increased the investments of the great Leonardo over time, reaching a portfolio holding of 17,5% of the Monte dei Paschi, 10% of Generali and 2,75% of Unicredit However, he ended up under investigation by the Milan Prosecutor's Office for an alleged concert with Caltagirone. In recent months, Millerì had been hailed by his lackeys as the new Midas of finance: it only took time for a legend to crumble.