When we talk about high-end fashion brands, organizations like Burberry, Chanel, Gucci, Louis Vuitton, Dior, and many more often think of it. Still, we also have to consider the most popular retailers, such as Inditex, H&M, Nike, or Uniqlo.
There are about 2.5 trillion dollars in the fashion industry so that you might ask.
While 2020 has been a challenging year for the fashion world, among others – with all lockdowns and shops closing almost everywhere in the world – the fortunes of the wealthiest people in fashion have increased dramatically in the last few years. Now, let’s see who the richest people in the fashion world are right now—the figures used in this top 10 come from Forbes and Bloomberg, from January 2021.
1.HEINRICH OTTO DEICHMANN Net Worth – $ 10.5 BILLION
Deichmann SE is currently the largest shoe retailer in Europe. The family business was founded as a shoemaker’s shop in the outskirts of Essen, Germany, opened in 1913 by Heinrich Deichmann, the current CEO’s grandfather. He managed to build this company into a multi-billion-dollar business.
2.ANDERS HOLCH POVLSEN Net Worth – $ 11.9 BILLION
When he was only 28 years old, Anders Holch Povlsen became the owner of the company Bestseller. A Denmark-based international clothing retailer sells clothing under labels such as Vero Moda, Only, and Jack & Jones. That happened almost 30 years ago. In the meantime, Povlsen also became a significant shareholder of ASOS, and today he is one of the largest individual private landowners in England. He lost three of his children and was injured in a terrorist attack in Sri Lanka in 2019, so remember that money isn’t everything.
3.STEFAN PERSSON Net Worth – $ 20.2 BILLION
According to Forbes Billionaire’s List for 2021, Carl Stefan Erling Persson is currently the 81st richest person in the world. The former chairman of the fashion store Hennes & Mauritz (H&M) is also the wealthiest person in Sweden at writing. He stepped down as chairman of H&M in May 2020. He agreed that his son, Karl-Johan, would take over. H&M group is also in control of the following labels; COS, Weekday, & Other Stories, Monki, ARKET, and H&M Home. With more than 5,000 stores in 74 countries, the Swedish retailer still has much room for expansion.
4.LEONARDO DEL VECCHIO Net Worth – $ 24.6 BILLION
The Italian Leonardo Del Vecchio is the chairman of the spectacle giant Luxottica. The world’s largest producer and retailer of spectacles and lenses. After founding Luxottica in 1961, Del Vecchio took over Sunglass Hut, Ray-Ban, Persol, and Oakley. They also make sunglasses and designer frames for Chanel, Prada, Armani, Versace, Burberry, Dolce & Gabbana, Bulgari, and more. The Italian eyewear conglomerate employs more than 70,000 people and has more than 8,000 stores.
5.GERARD & ALAIN WERTHEIMER – $ 24.6 BILLION
We can say that you have never heard of Gerard & Alain Wertheimer. Some people call this duo “the quietest billionaires in fashion” for a reason. But the Wertheimer brothers are the mysterious co-owners of Chanel, with Alain as chairman of this legendary fashion house, while Gerard heads Chanel’s watch division. Aside from their colossal fashion empire, Gerard and Alain also enjoy the privilege of owning several vineyards in France and Napa Valley.
6.TADASHI YANAI – $ 44.5 BILLION
Tadashi Yanai is number five on this list, but he is in the lead list of the wealthiest Japanese. He is the founder of Fast Retailing, the parent company of Uniqlo (“unique clothing”), the largest clothing retailer in all of Asia. Yanai opened the first Uniqlo store in 1984, and there are more than 2,000 stores in more than 20 countries.
7.FRANÇOIS PINAULT Net Worth – $ 47.6 BILLION
Monsieur Pinault is now the honorary president of the renowned luxury group Kering, which owns iconic fashion brands such as Gucci, YSL, Balenciaga, Alexander McQueen Boucheron, or highly acclaimed watchmakers such as Ulysse Nardin or Girard-Perregaux. Besides, this family business is also the owner of the British auction house Christie’s.
8.PHIL KNIGHT Net Worth – $ 52.9 BILLION
You may already know Phil Knight. He is undoubtedly the founder of one of the most iconic and recognizable (sports) clothing brands globally, Nike. He put together the first Nike shoes in 1964. The brand started under the name Blue Ribbon Sports. Today, Nike is the largest manufacturer of athletic shoes and sportswear globally, with more than 1,100 stores and sales above $ 44 billion. Knight retired as chairman of Nike in 2016 – after 52 years with the company, he needs some time to enjoy the best things in life.
9.AMANCIO ORTEGA Net Worth – $ 74.2 BILLION
In 1975, Amancio – together with his ex-wife Rosalia Mera – founded Ortega Inditex with his, and he currently owns 59 percent of the world’s largest fashion store. The Spanish fast-fashion retail giant is best known for its ZARA fashion chain and chairs other brands such as Pull & Bear, Bershka, Oysho, Masimo Dutti, Stradivarius, Zara Home, and Uterque. Inditex has more than 7,500 stores worldwide, and Ortega gets more than $ 400 million a year from dividends alone. With its colossal fortune, the sky is the limit – or maybe not. He has invested his office and retail properties in Madrid, Barcelona, London, and New York.
10.BERNARD ARNAULT Net Worth – $ 150.9 BILLION
The undisputed number 1 is Bernard Arnault. One of the world’s great trendsetters is comfortably at the top of our list. He is the chairman and CEO of LVMH, the world’s largest luxury goods company. This man’s high-end fashion empire includes more than 70 well-known brands, with legendary names such as Louis Vuitton, Christian Dior, Moet-Hennesy, Bulgari, Marc Jacobs, Hublot, and much more.
It wasn’t until 2019 that LVMH made deals to buy US jeweller Tiffany & Co and luxury hotel group Belmond, so the empire keeps growing. In January 2020, he became the richest person globally, albeit for a brief period. In the Bloomberg Billionaires Index, he is in 4th place with 116 billion, right after Bill Gates.
These are still the richest people on earth, but in this crazy world, everything can turn 180 degrees
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