People instantly think of high-end fashion labels like Gucci, Chanel, Louis Vuitton, Dior, Armani, and many more when they hear the word “fashion.” However, when discussing fashion, one must also mention the most prominent retailers, such as Inditex, H&M, Nike, or Uniqlo. The global fashion sector is valued at $2.5 trillion, which begs the question: how wealthy are the industry’s titans?Whether they are pioneers, designers, executives, or successors, the fashion industry’s wealthiest individuals own the majority of the companies people covet. In recent years, the fortunes of the fashion industry’s wealthiest individuals have substantially increased. Now, let’s see who are the richest fashion billionaires in 2022!
8 Stefan Persson – $20.7 Billion
Carl Stefan Erling Persson is now ranked as the 84th richest person in the world, as compiled by Forbes in their Billionaire’s List for the year 2022. The former chairman of the fashion firm Hennes & Mauritz (H&M) is currently the wealthiest person in Sweden. In May of 2020, he stepped aside as chairman of H&M and let his son, Karl-Johan, assume control of this fast-fashion company. Despite having over 5,000 locations in 74 countries, the Swedish company still has a great deal of space for expansion. This is because virtually everyone around the globe is familiar with H&M and has expressed an interest in purchasing some of their products.
7 Tadashi Yanai – $29.2 Billion
Tadashi Yanai, the richest person in Japan, founded and leads Fast Retailing, the parent business of Uniqlo, the largest clothing retailer in all of Asia. In 1984, Yanai opened the first Uniqlo store, and there are now over 2,000 stores in more than 20 countries. More than three decades after beginning his career at his father’s roadside tailor shop, his company’s yearly revenue tops $21.3 billion. However, he has always aspired high, and he expects that one day Fast Retailing will beat H&M and Inditex.
6 Gerard & Alain Wertheimer – $33.5 Billion (Each)
Andy Vermaut shares: Meet the brothers who just pocketed $5 billion from surging demand for Chanel: Alain and Gerard Wertheimer pocketed $2.5 billion each in dividends from Chanel as profits at the French fashion house soared over the pandemic. https://t.co/ UvUFqaZkZt Thank you. pic.twitter.com/nSMB6wLlGJ
— Andy Vermaut (@AndyVermaut) June 10, 2022
People have appropriately referred to this pair as “the quietest billionaires in fashion.” The Wertheimer brothers are the mystery co-owners of Chanel, with Alain serving as the head of this illustrious fashion brand and Gerard overseeing Chanel’s watch department in Switzerland. In addition to their enormous fashion company, Gerard and Alain also control multiple wineries in France and Napa Valley. When you can afford it, there is always room for a new hobby or a lavish property.
5 Leonardo Del Vecchio – $34.9 Billion
Leonardo Del Vecchio is the chairman of the eyeglasses business Luxottica, the largest manufacturer and reseller of spectacles and lenses in the world. After establishing Luxottica in 1961, billionaire Del Vecchio purchased Sunglass Hut, Ray-Ban, Persol, and Oakley. They also produce designer sunglasses and frames for Chanel, Armani, Versace, Prada, Burberry, Dolce & Gabbana, Bulgari, and others. The Italian eyeglasses business employs more than 70,000 people and has more than 8,000 locations that welcome new glasses-wearing clients every day.
4 François Pinault – $53.1 Billion
The renowned luxury conglomerate Kering, which owns renowned watchmakers like Ulysse Nardin and Girard-Perregaux as well as renowned fashion houses like Gucci, YSL, Balenciaga, Alexander McQueen, and Boucheron, now has Monsieur Pinault as its honorary chairman. Did you know that this The family-owned company also controls the renowned British auction house Christie’s? Not to be forgotten is his incredible art collection, which consists of over 5,000 unique and peculiar artworks by renowned artists like Picasso, Matisse, Mondrian, as well as Koons. In 2005, François-Henri Pinault succeeded his father and transformed the retail firm PPR into the premium fashion group Kering.
3 Phil Knight – $62.2 Billion
Phil Knight, the founder and largest stakeholder of sneaker company Nike, ran track at the University of Oregon before conceiving his great business plan. In 1964, he and his former track coach, Bill Bowerman, developed the original Nike shoes, and each invested $500 to get the business started. Today, Nike is the largest manufacturer of athletic shoes and sportswear in the world, with over 1,100 outlets and over $44 billion in revenue. Isn’t it a crazy return on a $500 investment?
2 Amancio Ortega – $67 Billion
Amancio Ortega and his ex-wife Rosalia Mera launched Inditex in 1975, and he today owns 59% of the world’s largest fashion retailer. The Spanish retail behemoth is most well-known for its ZARA fashion chainbut it also owns Pull & Bear, Bershka, Masimo Dutti, Stradivarius, ZARA Home, and Uterque. Ortega receives almost $400 million annually from dividends outlets alone. Inditex has more than 7,500 worldwide. With his enormous wealth, the sky’s the limit — or perhaps not.
1 Bernard Arnault – $180 Billion
With an estimated wealth of over $150 billion, Bernard Jean Étienne Arnault, one of the world’s finest tastemakers, is firmly positioned at the top of this list. Although it was just for a brief stretch of time, the chairman and CEO of LVMH, the world’s largest luxury goods company, overtook Jeff Bezos as the richest person in the world in January of 2020. This man’s luxury fashion empire consists of over 70 well-known companiesincluding Louis Vuitton, Christian Dior, Moet-Hennessy, Bulgari, Marc Jacobs, Hublot, and many others.
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Sources: Luxatic, Business Insider, Tech Bossu
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