Tuesday, July 5, 2022

    The 15 richest people in the fashion industry, ranked

    The 15 richest people in the fashion industry, ranked

    arnaults rihanna lvmh fentyarnaults rihanna lvmh fenty

    Delphine Arnault, Bernard Arnault, Rihanna, and Alexandre Arnault at the Fenty launch in May 2019 in Paris.

    Julien Hekimian/Getty Images for Fenty

    Fashion is a $2.5 trillion global industry that has made its leading players, from designers and CEOs to founders and heiresses, very rich.

    Business Insider has compiled a list of the richest people in the fashion industry, based on Forbes’ Real Time Billionaires ranking and Bloomberg Billionaires Index — and the top 15 are worth a combined $410.8 billion.

    The wealthiest person in fashion is Bernard Arnault, the chairman of LVMH, the world’s largest maker of luxury goods that’s behind brands such as Louis Vuitton, Dom Perignon, Christian Dior, and as of November 2019, Tiffany & Co. 

    Others on the list include Giorgio Armani, the founder of Nike, the Japanese billionaire behind Uniqlo, and the Spanish retail mogul who owns Zara.

    Read on for the 15 richest people in the fashion industry, ranked in ascending order.

    Bobbie Edsor contributed to an earlier version of this story.

    15. Chip Wilson: $6.1 billion

    Chip Wilson

    Lululemon founder Chip Wilson speaks during WE Day at KeyArena on April 21, 2017 in Seattle, Washington.

    Photo by Jim Bennett/Getty Images

    Chip Wilson founded Lululemon Athletica, a sportswear company. Between February 2019 and February 2020, Lululemon made $4 billion.

    Wilson stepped down from the board in 2015 after selling half of his stakes in the company to Advent International, a private equity firm, according to Bloomberg’s Billionaires Index.

    14. Ding Shijia: $6.19 billion

    Gordon Hayward #20 of the Boston Celtics Anta sneakers before the game between the Boston Celtics and the Oklahoma City Thunder at TD Garden on March 08, 2020 in Boston, Massachusetts.

    Gordon Hayward #20 of the Boston Celtics Anta sneakers before the game between the Boston Celtics and the Oklahoma City Thunder at TD Garden on March 08, 2020 in Boston, Massachusetts.

    Omar Rawlings/Getty Images

    Ding Shijia serves as deputy chaiman of the Fujian-based athletic retail manufacturer Anta Sports Products. 

    Including the brands Anta, Fila, Amer Sports and Descente,  the company made $3.6 billion in 2018, according to Bloomberg Billionaires Index.

    13. Giorgio Armani: $6.27 billion

    giorgio armani

    Benoit Tessier/Reuters

    The cofounder and sole owner of the Armani empire, Giorgio Armani’s luxury fashion house has ventures in haute couture, sportswear, beauty, restaurants, interior design, hotels and resorts, and ready-to-wear fashion, among others.

    The Italian-born fashion designer founded his company in 1975 after leaving medical school early. Now, Armani is often dubbed one of the most successful Italian fashion designers in history, with revenue of $2.3 billion in 2018, according to Bloomberg.

    Armani owns a 213-foot jet-black superyacht and has homes in Italy and the Caribbean.

    11. Anders Holch Povlsen: $6.8 billion

    Anders Holch Povlsen Anne Holch Povlsen

    Anne Holch Povlsen and Anders Holch Povlsen in Copenhagen in 2018.

    TARIQ MIKKEL KHAN/AFP via Getty Images

    Anders Holch Povlsen is the CEO and sole owner of Danish fashion retailer Bestseller. Povlsen’s parents started the company in 1975 and he was only 28 when his father, Troels Holch Povlsen, made him the sole owner of the company in 1990.

    Bestseller is the parent company of 11 fashion labels that include Vero Moda, Only, and Jack & Jones.

    Povlsen, who is the second-richest person in Denmark, also has “significant stakes” in online clothing retailer ASOS and payments company Klarna, according to Forbes.

    In April 2019, three of Povlsen’s four children were killed in the Easter Sunday bombings in Sri Lanka that left at least 290 people dead.

    9. Heinrich Deichmann: $7.12 billion

    heinrich deichmann getty alexander koerner

    Heinrich Deichmann (right) with Dutch model and TV personality Sylvie Meis (left).

    Getty/Alexander Koerner/Stringer

    Heinrich Deichmann is the CEO of international shoe manufacturer Deichmann, founded by his grandfather as a cobbler’s shop in Germany in 1913. 

    Deichmann’s reputation for creating affordable footwear is ingrained in its history. The family company organized a second-hand shoe exchange scheme in order to help struggling customers after the war, according to the company’s website.

    Today, Deichmann has grown to become Europe’s largest shoe retailer, with more than 4,200 stores in Germany, the US, and throughout Europe. 

    7. Leonardo Del Vecchio: $20.9 billion

    Giorgio Armani and Leonardo Del Vecchio

    Giorgio Armani (left) and Leonardo Del Vecchio.

    Stefania D’Alessandro / Contributor / Getty Images

    Leonardo Del Vecchio is the founder of eyewear giant Luxottica, which went on to acquire Sunglass Hut, Ray-Ban, and Oakley and make glasses for brands including Chanel and Bulgari, according to Forbes.

    Luxottica merged with French lens maker Essilor in 2018 to become the world’s largest producer and retailer of sunglasses and prescription glasses.

    4. Phil Knight: $40.4 billion

    Phil Knight

    AP/Rick Bowmer

    Phil Knight is the founder of shoe giant Nike. Knight, a former track runner, started the company that would become Nike with his college track coach, Bill Bowerman, in 1964.

    Knight retired as chairman of Nike in 2016 after 52 years, according to Forbes.

    2. Amancio Ortega: $59.6 billion

    amancio ortega

    Europa Press/Europa Press via Getty Images

    Amancio Ortega made his $60 billion fortune through the Spanish fashion retail group Inditex, which he founded with his ex-wife Rosalia Mera in 1975.

    Ortega owns 59% of Inditex, the world’s largest clothing retailer that owns Zara, Pull&Bear, Bershka, Massimo Dutti, Stradivarius, and other brands, per Bloomberg Billionaires Index.

    1. Bernard Arnault: $88 billion

    bernard arnault lvmh

    NICHOLAS KAMM/AFP via Getty Images

    Bernard Arnault is the chairman and CEO of LVMH, the world’s largest luxury goods company. The French billionaire is the third-richest person in the world, trailing only Bill Gates and Jeff Bezos.

    LVMH is the parent company of 75 household names, including Louis Vuitton, Christian Dior, Sephora, and Bulgari, and, as of November 2019, jewelry giant Tiffany & Co.

    Arnault is growing richer at a faster rate than many other billionaires. Since the beginning of 2019, his fortune has fallen by $17.2 billion, according to Bloomberg Billionaires Index

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