Fashion boss Richard Saghian recently made news by spending $141 million to buy a massive mansion called The One in fancy Bel-Air. He’s the CEO of a private company called Fashion Nova, a well-recognized brand name for dynamic fashion enthusiasts. His brand, Fashion Nova, is famous for getting people the latest fashion fast. Social media and collas with famous people are the key factors that make their brand successful.
Personal Status
| Age | 42 |
| Source of Wealth | Fast fashion, Self Made |
| Residence | Los Angeles, California |
| Citizenship | United States |
| Marital Status | Single |
| Education | Drop Out, California State University Northridge |
Saghian’s Life And Carrier
- Richard Saghian is the founder and boss of Fashion Nova, a fast-fashion company that makes around $2 billion in sales each year.
- He’s the son of Iranian parents and began the company in 2006 after leaving college.
- Fashion Nova releases hundreds of new clothing styles every week and gets famous people like Cardi B to show them off on Instagram.
- In 2018, it was Google’s most popular fashion brand, beating fancy brands such as Louis Vuitton, Versace, and Gucci.
- Saghian is the owner of numerous properties in Los Angeles, including a $141 million mansion in Bel Air.
Who is The Ideal of Saghian
Saghian, an Iranian-American, got into fashion early, thanks to his dad, who owned women’s stores. He started Fashion Nova in 2006, initially as a bunch of stores selling affordable party and trendy clothes in Los Angeles malls. Later, in 2013, he created his own online store and an Instagram account. Many call him one of the first fashion folks to realize how strong social media is for selling stuff.
Another big reason for Fashion Nova’s success is that it welcomes all body types and welcomes diversity. They introduced Fashion Nova Curve in 2016 for plus-size customers, added menswear in 2018, and even launched a beauty line called Maven Beauty in 2020. They collaborate with about 1,000 manufacturers and introduce 600 to 900 new styles every week, making Fashion Nova a top brand known for quickly bringing out new clothes and lifestyle products.
Instagram to Billionaire: Richard Saghian’s Success Story
Saghian, who is 40 years old, knew how influential Instagram could be right from the start. Even before Fashion Nova’s online store, he used his own Instagram with 60,000 followers to build a devoted following for his growing brand. Many people still tag the brand using the hashtag #NovaBabes, which has created a strong connection and trust with younger customers, resulting in lots of interaction and loyalty.
As per The Business of Fashion, Fashion Nova’s signature body-hugging style has established a famous Instagram look. This look is about inexpensive, stylish clothes that influencers and famous people love and promote.
Fashion Nova got a huge social media boost from teaming up with famous people like Cardi B, Kylie Jenner, Khloe Kardashian, Megan Thee Stallion, and Amber Rose, just to name a few from their list of over 2,000 influencers. For instance, Cardi B worked with Fashion Nova on a collection in 2019, and it supposedly made a whopping $1 million in just one day.
In 2018, Fashion Nova became more popular online than H&M and Zara, and it even outdid luxury brands like Louis Vuitton, Versace, and Gucci as the most searched fashion brand on Google. According to Women’s Wear Daily, just one post by Kylie Jenner can bring in $50,000 in earnings for Fashion Nova.