Who is Richard Saghian and what is his net worth?
RICHARD Saghian is a millionaire entrepreneur who founded the fast fashion empire, Fashion Nova. Fashion Nova has attracted a catalog of celebrity endorsements and attracted millions of social media followers. Who is Richard Saghian? Richard Saghian is the chief executive of Fashion Nova. Born January 31, 1982, Saghian is 40 years old. Fashion Nova is […]
RICHARD Saghian is a millionaire entrepreneur who founded the fast fashion empire, Fashion Nova.
Fashion Nova has attracted a catalog of celebrity endorsements and attracted millions of social media followers.
Who is Richard Saghian?
Richard Saghian is the chief executive of Fashion Nova.
Born January 31, 1982, Saghian is 40 years old.
Fashion Nova is a fast-fashion company and a social media phenomenon that has achieved rapid growth through its work with influencers and its speed at delivering trend-led pieces.
He founded Fashion Nova in 2006 as a chain of stores selling low-price “clubwear” and apparel in Los Angeles-area malls.
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Saghian launched the e-commerce site in 2013.
The company quickly became a cult hit, catering to all body types and ethnicities.
Fashion Nova counts over 20million followers across its Instagram accounts.
Around 2,000 influencers — including Cardi B, Kylie Jenner, Khloe Kardashian, and Nicki Minaj — create roughly 6,000 pieces of content about the brand each month.
On March 6, 2022, the Los Angeles Times reported that Saghian purchased “The One” mega-mansion in Los Angeles.
The CEO himself confirmed to the outlet that he spent $141million to buy the lavish LA mansion.
“The One Bel-Air is a once-in-a-lifetime property that can never be duplicated. There is nothing else like it. As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of Los Angeles history,” Saghian said in an emailed statement to the outlet.
He owns two other homes in Southern California: a Malibu beach house that he purchased from Netflix CEO Ted Sarandos last year for $14.7million and a home in the Hollywood Hills that he bought for $17.5million in 2018.
What is his net worth?
Saighan is reportedly worth $50million according to MD Daily Record.
Fashion Nova’s fundamental success is thanks to its social media marketing.
The brand’s Instagram page attracted about a million followers a month.
“All the knowledge I gained from having brick and mortar stores, I utilized for the website. Being able to listen firsthand to my customers gave me information of what women wanted, what was missing, and what was needed,” Saghian told Paper.
“I realized early on, getting into the minds of my customers is what helped me grow. I don’t think I would’ve been able to do it without all my retail experience from the brick and mortar days to the e-comm days.”
The value of Fashion Nova’s social media exposure is more than that of H&M and Zara combined.
Fashion Nova works with over 1,000 manufacturers to release approximately 600-900 new styles a week.
The pieces are mostly manufactured in Los Angeles, but the brand also works with Chinese vendors.
Is Richard Saighan married?
Little is known about his personal life and whether the businessman has a partner or kids.
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