Fashion industry is a big and lucrative business, where new trendy designers and collections pop up every day.
After all, it is a multi-trillion-dollar industry that has gripped the entire world but you’d be surprised to hear that only a handful of the wealthiest tycoons hold almost all of the stake in the market. Care to find out who they are?
Giorgio Armani ($9.6 billion)
Armani is a household name in the luxury fashion market and the company made over $3.32 billion in sales last year, which became one of its biggest milestones ever since the fashion house was founded in 1975.
Miuccia Prada ($11.1 billion)
When it comes to multi-billion-dollar fashion empires, Prada isn’t one to fall behind. The brand was founded in 1913 by the visionary Mario Prada, and today, his granddaughter, Miuccia Prada has a sizable stake in the company. She alongside with her husband, Patrizio Bertelli run the fashion house together.
Tadashi Yanai ($17 billion)
The name Tadashi Yanai might not be familiar to most, but this business tycoon sits atop of a $17 billion fashion empire, also known as Fast Retailing. Founded in 1949 by his father, this umbrella holding has amassed a number of subsidiaries, with the most notable one being Uniqlo.
Leonardo Del Vecchio ($20 billion)
We can’t talk about luxury fashion without mentioning sunglasses, a very important accessory that commands a multi-billion-dollar market.
At the forefront of it is Luxottica, a $20-billion holding that owns several well-known brands like Oakley and Ray-Ban. The retailer also became the biggest name in the production of glasses after it merged with Essilor in 2018.
Amancio Ortega ($64 billion)
Amancio Ortega may be one of the richest people in the world, but his is a rags-to-riches story that could inspire any aspiring entrepreneur.
The man never finished school due to pressure to work from a very young age. After working as a delivery boy for a tailor for many years, he finally decided to start his own designing business in 1960s.
He started Zara in 1975 with his wife, later forming an umbrella holding, Inditex for all his retail brands.
Bernard Arnault ($100 billion)
Finally, the name you’ve all been waiting to hear: Bernard Arnault is the richest fashion tycoon on this list with a fortune of $37 billion.
Where does the money come from, you ask? Arnault is the chairman and CEO of LVMH, the biggest fashion holding in the world with Christian Dior as one of its subsidiaries.