Fashion is a $ 2.5 trillion global industry that has made its major players, from designers and CEOs to founders and heirs, very wealthy. Business Insider US has compiled a list of the richest people in the industry, based on Forbes’ real-time billionaire rankings. The first fifteen represent an overall fortune of $ 395.6 billion. The first place in the ranking is unsurprisingly occupied by Bernard Arnault, president of LVMH, the world’s leading manufacturer of luxury products carried by brands such as Louis Vuitton, Dom Perignon, Christian Dior, and since November 2019, Tiffany & Co.
Giorgio Armani, the founder of Nike, the Japanese billionaire behind Uniqlo, and the Spanish retail mogul who owns Zara are also on this list. Here is the full ranking of the 15 richest personalities in the fashion industry, established in ascending order:
15. Chip Wilson : 6,1 Mds$
Chip Wilson founded Lululemon Athletica, a sportswear company. Between February 2019 and February 2020, Lululemon achieved a turnover of 4 billion dollars. Chip Wilson stepped down from the board in 2015 after selling half of his stake in the company to Advent International, a private equity firm, according to the Bloomberg Billionaires Index.
14. Ding Shijia: 6,19 Mds$
Ding Shijia is deputy chairman of Fujian-based sports products manufacturer Anta Sports Products. Including the brands Anta, Fila, Amer Sports and Descente, the company earned $ 3.6 billion in 2018, according to the Bloomberg Billionaires Index.
13. Giorgio Armani: $ 6.27 billion
Co-founder and sole owner of the Armani Empire, Giorgio Armani has embarked on haute couture, sportswear, beauty, catering, interior design, hotels and ready-to-wear. The Italian fashion designer founded his company in 1975 after leaving medical school prematurely. Today, Giorgio Armani is considered one of the most famous Italian fashion designers in history, with a turnover of $ 2.3 billion in 2018, according to Bloomberg. He owns a 65-meter superyacht as well as homes in Italy and the Caribbean.
12. Ding Shizhong: 6,34 Mds$
Ding Shizhong is the CEO of Anta Sports, one of China’s largest sportswear manufacturers. The firm, which owns brands such as Fila, Descente and Kingkow, reported sales of more than $ 3.4 billion in 2018, according to Bloomberg.
11. Anders Holch Povlsen: $ 6.8 Mds
Anders Holch Povlsen is the CEO and sole owner of Danish fashion retailer Bestseller. Anders Holch Povlsen’s parents established the company in 1975 and he was only 28 when his father, Troels Holch Povlsen, appointed him sole owner of the company in 1990. Bestseller is the parent company of eleven brands of fashion including Vero Moda, Only and Jack & Jones. Second richest person
from Denmark, it also has “significant stakes” in online clothing retailer ASOS and payments company Klarna, according to Forbes.
In April 2019, three of Anders Holch Povlsen’s four children were killed in the Easter Sunday attacks in Sri Lanka, which left at least 290 dead.
10. Sandra Ortega Mera: $ 6.91 billion
Sandra Ortega Mera is the daughter of Zara founder Amancio Ortega and his ex-wife Rosalia Mera. She inherited the title of the richest woman in Spain after the death of her mother. Sandra Ortega Mera owns a roughly 4.5% stake in her father’s company, Inditex, but she has no executive role in the company, according to Forbes.
9. Heinrich Deichmann: $ 7.12 Mds
Heinrich Deichmann is the CEO of the international shoe manufacturer Deichmann, originally a shoemaker founded by his grandfather in Germany in 1913. Deichmann’s reputation for creating affordable footwear is rooted in its history. The family-owned business organized a second-hand shoe exchange program to help struggling customers after the war, according to the company’s website. Today, Deichmann has grown into one of the leading shoe retailers in Europe, with more than 4,200 stores in Germany, the United States and across Europe.
8. Stefan Persson : 16,6 Mds$
Former president of H&M, Stefan Persson owns a 36% stake in the company. Stefan Persson stepped down as president in May 2020 and his son, Karl-Johan Persson, took over. H&M Group, which also owns brands like Weekday, COS and Monki, reported sales of nearly $ 22 billion in 2018, according to the company’s annual report. The Swedish “fast fashion” firm has around 4,900 stores in 73 markets.
7. Leonardo Del Vecchio: $ 20.9 billion
Leonardo Del Vecchio is the founder of eyeglass frame manufacturing giant Luxottica, which later acquired Sunglass Hut, Ray-Ban and Oakley, and makes eyewear for brands like Chanel and Bulgari, according to Forbes. In 2018, Luxottica merged with French lens manufacturer Essilor to become the world’s leading producer and distributor of sunglasses and prescription glasses.
6. Tadashi Yanai: 31,9 Mds $
Tadashi Yanai is the founder and owner of the Japanese ready-to-wear empire Fast Retailing, Asia’s largest clothing retailer, and the parent company of Uniqlo. The richest man in Japan, Tadashi Yanai began his career in his father’s sewing workshop in the Japanese countryside, according to Bloomberg. In the early 1990s, he changed the name of the company to Fast Retailing to reflect his business strategy of “fast fashion”. Tadashi Yanai opened the first Uniqlo store in 1984 and expanded the brand to over 2,000 stores in over 20 countries.
Fast Retailing has thousands of stores around the world and reported annual sales of $ 20.8 billion as of August 2019, according to Bloomberg.
5. Alain and Gérard Wertheimer: $ 32.3 billion
Alain Wertheimer is co-owner of the French fashion house Chanel with his brother Gérard. Alain Wertheimer is the chairman of Chanel while Gérard Wertheimer heads the watchmaking department of the company in Switzerland. The Wertheimer brothers inherited the Chanel empire from their grandfather, Pierre Wertheimer, who founded the brand with Gabrielle “Coco” Chanel in 1913. They each have a fortune of $ 32.3 billion.
According to the New York Times, the Wertheimers are known as “fashion’s quietest billionaires.” “We’re a very low-key family, we never talk,” Gerard Wertheimer told The New York Times Magazine in 2002. “It’s about Coco Chanel. It’s about Karl.[Lagerfeld]. These are all those who work and create at Chanel. It’s not about the Wertheimers. “
3. Phil Knight : 40,4 Mds$
Phil Knight is the founder of shoe giant Nike. A former track runner, he founded with his track and field trainer at Bill Bowerman University in 1964, the company that would become the multinational firm. Phil Knight retired as president of Nike in 2016 after 52 years in the business, according to Forbes.
4. François Pinault: $ 42.6 billion
François Pinault is the founder and owner of the luxury group Kering, which owns iconic labels such as Gucci and Alexander McQueen. The French businessman and great collector of contemporary art also owns auction houses, vineyards and French publications. He is the third fortune in France after Bernard Arnault and Francoise Bettencourt Meyers.
2. Amancio Ortega: $ 59.6 Mds
Amancio Ortega built his fortune with the Spanish fashion group Inditex, which he founded with his ex-wife Rosalia Mera in 1975. The businessman owns 59% of Inditex, the world’s largest clothing retailer who is among others the owner of Zara, Pull & Bear, Bershka, Massimo Dutti and Stradivarius.
1. Bernard Arnault: $ 88 billion
Bernard Arnault is the CEO of LVMH, the world’s leading luxury group. The French billionaire is the third richest person in the world, behind Bill Gates and Jeff Bezos. LVMH is the parent company of 75 major brands including Louis Vuitton, Christian Dior, Sephora, Bulgari and, since November 2019, Tiffany & Co.
Bernard Arnault gets richer faster than most other billionaires. Nonetheless, since the start of 2019, his fortune has fallen by $ 17.2 billion, according to the Bloomberg Billionaires Index.
Version originale : Katie Warren et Joey Hadden/Business Insider US
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