Richard Saghian Net Worth: How Rich is Fashion Nova CEO?

Biographies

American businessman Richard Saghian started and runs a fashion company called Fashion Nova. It is thought that Richard Saghian’s net worth will be over $60 million by 2022.

Early Years

Richard Saghian was born in California, USA, on January 31, 1982. When he was young, his father owned stores that sold clothes for women, which is how he got interested in fashion. Richard and everyone else in his family used to work in stores.

Richard Saghian’s Career

He started the fashion company Fashion Nova in 2006. At the time, the goal was to sell cheap “clubwear” and other clothes in malls around Los Angeles. Seven years later, he started the e-commerce website and used Instagram to promote his brands and products.

By promoting their brands on social media sites, the company’s popularity grew by a huge amount. The company’s Instagram page now has a huge 20.2 million followers, which is more than both H&M and Zara put together.

The success of Fashion Nova is also due to the fact that a number of influential people promote their brands. Over 2,000 people who have a lot of followers on social media have already promoted their brands there. Cardi B, Kylie Jenner, Khole Kardashian, and Nicki Minaj are all well-known celebrities who promote Fashion Nova’s products.

Fashion Nova is now one of the world’s most successful clothing companies. It works with about 1,000 different companies and puts out between 600 and 900 new styles every week. Most of the company’s products are made in Los Angeles, but the company also works with a few suppliers in China.

In 2018, Gucci, Louis Vuitton, and Chanel were not the most-searched fashion brands on the web. Instead, it was Fashion Nova. That year, the company was able to report a huge profit of over 600%.

Fashion Nova also had an agreement with the rapper Tekashi69 that he would mention the company in one of his songs. But after a fight between Nicki Minaj and Cardi B, who is a brand ambassador for the company, the lyrics were taken down.

Personal Life

Richard is a private person, so not much is known about his private life. We don’t know anything about his relationships or how he dates.

On June 25, 2021, there were several gunshots outside of his home. Police in Los Angeles say that the shooting happened at 2 a.m. in front of Richard’s house while someone tried to rob him on the street. One suspect was one of the four people who were hurt, and another suspect was killed. Richard was home when the robbery happened, so he wasn’t hurt and didn’t lose anything.

Net Worth

In 2022, Richard Saghian is expected to have a net worth of around $60 million. Because of how well he has done in Fashion Nova, he has a lot of money. Richard spent $17.5 million on a home in the Hollywood Hills in 2018. The house was once owned by the late DJ Aviccii. It was 7,000 square feet and had 6 bedrooms and 7 bathrooms.