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Business Insider

Fashion is a US$2.5 trillion global industry that has made its leading players, from designers and CEOs to founders and heiresses, very rich.
The wealthiest person in fashion is Bernard Arnault, the chairman of LVMH, the world’s largest maker of luxury goods behind brands such as Louis Vuitton, Dom Perignon, Christian Dior, and Fendi.
Others on the list include Giorgio Armani, the founder of Nike, the Japanese billionaire behind Uniqlo, and the Spanish retail mogul who owns Zara.
Read on for the 15 richest people in the fashion industry, ranked in ascending order.

15. Chip Wilson US$6.1 billion
Chip Wilson founded sportswear company Lululemon Athletica in 1998. Between February 2019 and February 2020, Lululemon made US$4 billion.
Wilson stepped down from the board in 2015 after selling half of his stakes in the company to Advent International, a private equity firm, according to Bloomberg’s Billionaires Index.

14. Ding Shijia US$6.19 billion
Ding Shijia is deputy chairman of the Fujian-based athletic retail manufacturer Anta Sports Products.
Including the brands Anta, Fila, Amer Sports and Descente, the company made US$3.6 billion in 2018, according to Bloomberg Billionaires Index.

13. Giorgio Armani US$6.27 billion
The co-founder and sole owner of the Armani empire, Giorgio Armani’s luxury fashion house has ventures in haute couture, sportswear, beauty, restaurants, interior design, hotels and resorts, and ready-to-wear fashion, among others.
He founded his company in 1975 after leaving medical school early. Now, Armani is often dubbed one of the most successful Italian fashion designers in history, with revenue of US$2.3 billion in 2018, according to Bloomberg.
Armani owns a 213ft jet-black superyacht and has homes in Italy and the Caribbean.

12. Ding Shizhong US$6.34 billion
Ding Shizhong is the chairman and CEO of Anta Sports, one of China’s largest sportswear makers.
Anta Sports, which owns brands including Fila, Descente, and Kingkow, made more than US$3.4 billion in revenue in 2018, per Bloomberg Billionaires Index.

11. Anders Holch Povlsen US$6.8 billion
Anders Holch Povlsen is the CEO and sole owner of Danish fashion retailer Bestseller. Povlsen’s parents started the company in 1975 and he was only 28 when his father, Troels Holch Povlsen, made him the sole owner of the company in 1990.
Bestseller is the parent company of 11 fashion labels that include Vero Moda, Only, and Jack & Jones.
Povlsen, who is the second richest person in Denmark, also has “significant stakes” in online clothing retailer ASOS and payments company Klarna, according to Forbes.
In April 2019, three of Povlsen’s four children were killed in the Easter Sunday bombings in Sri Lanka that left at least 290 people dead.

10. Sandra Ortega Mera US$6.91 billion
Sandra Ortega Mera is the daughter of Zara founder Amancio Ortega and his late ex-wife, Rosalia Mera.
Sandra inherited the title of Spain’s richest woman after her mother’s death. While she isn’t involved with the company, Sandra holds a roughly 4.5 per cent stake in her father’s business, Inditex, according to Forbes.

9. Heinrich Deichmann US$7.12 billion
Heinrich Deichmann is the CEO of international shoe manufacturer Deichmann, founded by his grandfather as a cobbler’s shop in Germany in 1913.
Deichmann’s reputation for creating affordable footwear is ingrained in its history. The family company organised a second-hand shoe exchange scheme to help struggling customers after the war, according to the company’s website. Today, Deichmann has grown to become Europe’s largest shoe retailer, with more than 4,200 stores in Germany, the US and Europe.

8. Stefan Persson US$16.6 billion
Former chairman of bestselling fashion retailer H&M, Stefan Persson owns a 36 per cent stake in the company. Persson stepped down as chairman in May 2020 and his son Karl-Johan took over the role.
H&M Group, which also owns brands like Weekday, COS, and Monki, brought in more than US$22 billion in net sales in 2018, according to the company’s annual report. The Swedish fast-fashion business has about 4,900 stores in 73 markets.

7. Leonardo Del Vecchio US$20.9 billion
Leonardo Del Vecchio is the founder of eyewear giant Luxottica, which went on to acquire Sunglass Hut, Ray-Ban and Oakley, and make glasses for brands including Chanel and Bulgari, according to Forbes.
Luxottica merged with French lens maker Essilor in 2018 to become the world’s largest producer and retailer of sunglasses and prescription glasses.

6. Tadashi Yanai US$31.9 billion
Tadashi Yanai is the founder and owner of Japanese clothing empire Fast Retailing, the largest clothing retailer in Asia and the parent company of Uniqlo.
Yanai, the richest person in Japan, began his career at his father’s roadside tailor shop in Japan, according to Bloomberg. Yanai later changed the name of the company to Fast Retailing in the early 1990s to reflect his fast-fashion business strategy.
Yanai opened the first Uniqlo store in 1984 and has expanded to more than 2,000 stores in at least 20 countries. Fast Retailing reported yearly revenue of US$20.8 billion in August 2019, according to Bloomberg.

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5. Alain and Gerard Wertheimer US$32.3 billion each
Alain Wertheimer co-owns the French fashion house Chanel with his brother, Gerard. Alain serves as Chanel’s chairman while Gerard manages the company’s watch department 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 net worth of US$32.3 billion.
The Wertheimers are known as “fashion’s quietest billionaires.”
‘’We’re a very discreet family, we never talk,’’ Gérard told The New York Times Magazine in 2002.’’It’s about Coco Chanel. It’s about Karl [Lagerfeld]. It’s about everyone who works and creates at Chanel. It’s not about the Wertheimers.”

4. Phil Knight US$40.4 billion
Phil Knight is the founder of shoe giant Nike. Knight, a former track runner, started the company that would become Nike with his college track coach, Bill Bowerman, in 1964.
Knight retired as chairman of Nike in 2016 after 52 years, according to Forbes.

3. Francois Pinault US$42.6 billion
François Pinault is the founder and owner of Kering luxury group, which includes iconic fashion houses such as Gucci and Saint Laurent. He’s been married to Mexican-American actress Salma Hayek since 2009.
The French businessman and art collector also owns auction houses, wineries and French publications. He’s the third richest person in France after Bernard Arnault and Francoise Bettencourt Meyers.

2. Amancio Ortega US$59.6 billion
Amancio Ortega made his US$60 billion fortune through the Spanish fashion retail group Inditex, which he founded with his ex-wife Rosalia Mera in 1975.
Ortega owns 59 per cent of Inditex, the world’s largest clothing retailer that owns Zara, Pull&Bear, Bershka, Massimo Dutti, Stradivarius and other brands.

1. Bernard Arnault US$88 billion
Bernard Arnault is the chairman and CEO of LVMH, the world’s largest luxury goods company. The French billionaire is the third richest person in the world, trailing only Bill Gates and Jeff Bezos.
LVMH is the parent company of 75 household names, including Louis Vuitton, Christian Dior, Sephora and Bulgari.
Arnault is growing richer at a faster rate than many other billionaires. Since the beginning of 2019, however, his fortune has fallen by US$17.2 billion, according to Bloomberg Billionaires Index.


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Fashion

Fashion billionaires: ranking the top 15 richest people in the industry

Alain and Gerard Wertheimer are worth US$32.3 billion each, and they own one of the best known fashion labels in the world: Chanel. Photo: Getty Images

Ding Shizhong, Chairman & CEO of ANTA speaks at ANTA Sports Products Ltd 2017 interim results announcement at Conrad Hong Kong in Admiralty. 15AUG17 SCMP / David Wong

OLEIROS, SPAIN - AUGUST 17: Sandra Ortega Mera, daughter of Amancio Ortega and Rosalia Mera, attends her mother funeral on August 17, 2013 in Oleiros, Spain. (Photo by Xurxo Lobato/Getty Images)

A handout photo taken on January 16, 2017 and released by Essilor shows Founder and Chairperson of Italian eyeglass producer Luxottica Leonardo Del Vecchio (R) shaking hands with CEO of French lens maker Essilor Hubert Sagnieres in Paris. French lensmaker Essilor has agreed to buy Italy's Luxottica, maker of Ray-Ban sunglasses, in a bid to create a new global giant in the sector, the two groups announced on January 16. / AFP PHOTO / Essilor / Thierry FOULON / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / ESSILOR / THIERRY FOULON" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

ASCOT, ENGLAND - OCTOBER 17: Queen Elizabeth II presents the trophy to owners Alain Wertheimer and Gerard Wertheimer, after their horse Solow won the Queen Elizabeth II Stakes Race run during the QIPCO British Champions Day at Ascot Racecourse on October 17, 2015 in Ascot, England.  (Photo by Getty Images/Getty Images)

Tadashi Yanai, chairman and chief executive officer of Fast Retailing Co., poses for a photograph in Tokyo, Japan, on Tuesday, Sept. 3, 2019. Yanai, Fast Retailing's 70-year-old billionaire founder, said he would prefer to be succeeded by a woman, which would be better for Asia's largest retailer. Photographer: Kentaro Takahashi/Bloomberg

SEATTLE, WA - APRIL 21:  Lululemon founder Chip Wilson speaks during WE Day at KeyArena on April 21, 2017 in Seattle, Washington.  (Photo by Jim Bennett/Getty Images)

STOCKHOLM, SWEDEN - DECEMBER 10: Carolyn Denise Persson and Stefan Persson attend the Nobel Prize Awards Ceremony at Concert Hall on December 10, 2018 in Stockholm, Sweden. (Photo by Pascal Le Segretain/WireImage)

From Bloomberg wire.  Francois-Henri Pinault. Photographer: Christophe Morin/Bloomberg

Chairman and Chief Executive of LVMH Bernard Arnault and Louis Vuitton Executive vice president Delphine Arnault pose following the presentation of the group's environmental "Life" program (LVMH Initiatives For the Environment) on September 25, 2019 at LVMH headquarters in Paris. (Photo by ERIC PIERMONT / AFP)

This picture taken on May 27, 2018 shows Bestseller-owner Anders Holch Povlsen and his wife Anne Holch Povlsen as they arrive at the celebration of the 50th birthday of Crown Prince Frederik of Denmark in Royal Arena in Copenhagen, Denmark. - The Bestseller company confirmed on April 22, 2019, that the Holch Povlsen couple lost three of their children in the attacks in Sri Lanka. The death toll from bomb blasts that ripped through churches and luxury hotels in Sri Lanka rose dramatically April 22 to 290 -- including dozens of foreigners -- as police announced new arrests over the country's worst attacks for more than a decade. (Photo by Tariq Mikkel Khan / Ritzau Scanpix / AFP) / Denmark OUT

Anta store in Shenzhen

FILE - In this July 11, 2013 file photo, Phil Knight, the co-founder and chairman of Nike, Inc., walks to the morning session at the Allen & Company Sun Valley Conference in Sun Valley, Idaho. Scribner announced that "Shoe Dog" will be the title Thursday for Knights book and set an April 26 release. The memoir, first announced last year, will cover the early years of Nike, when Knight in 1964 started what became the iconic company through a handshake deal with his track coach at the University of Oregon, Bill Bowerman. (AP Photo/Rick Bowmer, File)

MILAN - SEPTEMBER 23: Giorgio Armani after Giorgio Armani fashion show, Milan Fashion Week street style on September 23, 2016 in Milan. - Image

30 March 2020, North Rhine-Westphalia, Essen: Heinrich Otto Deichmann, chairman of the board of the shoe retailer Deichmann, sits in the headquarters during an interview with dpa. Well-known retailers, including Deichmann, had stopped paying rent for their stores in Germany after they had to close them due to the spread of the coronavirus. Photo: Rolf Vennenbernd/dpa (Photo by Rolf Vennenbernd/picture alliance via Getty Images)

Founder and chairman of the Inditex fashion group Amancio Ortega stands at the end of the 32nd edition of the A Coruna International Show Jumping competition at the Casas Novas Equestrian Centre in Arteixo, on July 31, 2016. / AFP PHOTO / MIGUEL RIOPA

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Plus size fashion is evolving into size-inclusive clothing, with brands like 11 Honoré and Universal Standard leading the way

Womenswear from size-inclusive label Universal Standard, one of a range of brands including 11 Honoré, Khloe Kardashian’s Good American and Everybody & Everyone that offer more than just plus-size clothing.

A tailored outfit from 11 Honore

Alexandra Waldman, Polina Veksler, founders of Universal Standard

Universal Standard Womenswear

A look from Everybody & Everyone

Swimwear from 11 Honore

LOS ANGELES, CA - OCTOBER 18:  Khloe Kardashian Good American Launch Event at Nordstrom at the Grove on October 18, 2016 in Los Angeles, California.  (Photo by Steve Granitz/WireImage)

Universal Standard womenswear

Patrick Herning, founder of 11 Honore

America’s 16 richest billionaires: Jeff Bezos, his ex-wife MacKenzie Scott, Bill Gates, Mark Zuckerberg and Elon Musk all feature – but who gives the most back?

America’s rich list (from left) Alice Walton, Elon Musk and Jeff Bezos. Photos: AP

03 March 2020, US, West Palm Beach: Democratic presidential candidate Mike Bloomberg speaks to his supporters during the Super Tuesday primary election night at the Palm Beach County Covention Center. Photo: Greg Lovett/Palm Beach Post via ZUMA Wire/dpa

epa04231628 (FILE) A file photograph dated 08 November 2012 shows Steve Ballmer, back then CEO of Microsoft, talking during the unveiling of the project 'Schlaumaeuse' (Clever Mice) in Berlin, Germany. According to media reports on 30 May 2014, Ballmer, former CEO of Microsoft, won a bidding war for the ownership of the Los Angeles Clipper with a 2-billion US dollar offer which set a record price for the NBA team. The deal is yet to be finalized as it requires the final approval of the wife of Clippers owner Donald Sterling as well as from the other NBA teams, sources reported. EPA/MICHAEL KAPPELER

FILE- In this May 22, 2012, file photo, Charles Koch speaks in his office at Koch Industries in Wichita, Kan. Koch, a billionaire industrialist, warned America is "done for" if the conservative donors and politicians he gathered at a retreat this weekend don't rally others to their cause of demanding a smaller, less-intrusive government. (Bo Rader/The Wichita Eagle via AP, File) LOCAL TELEVISION OUT; MAGS OUT; LOCAL RADIO OUT; LOCAL INTERNET OUT; MANDATORY CREDIT

SAN FRANCISCO, CA - OCTOBER 2: Oracle CEO Larry Ellison delivers an opening keynote address at the 2011 OpenWorld Conference on October 2, 2011 at the Moscone Center in San Francisco, California. The Oracle OpenWorld Conference, the largest of its kind, will continue through October 6. Stephen Lam/Getty Images/AFP== FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

Walmart's Alice Walton is the richest woman in the world. Photo: AP Photo/Danny Johnston

Julia Koch. Photo: @bdix004/Twitter

===PHOTO CAPTURED ONLINE=== Mark Zuckerberg. Photo: Facebook

Sergey Brin, co-founder of Google appear at the keynote with the Google Glass to introduce the Google Class Explorer edition during Google's annual developer conference, Google I/O, on June 27, 2012 in San Francisco. AFP PHOTO/Kimihiro Hoshino (Photo by KIMIHIRO HOSHINO / AFP)

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Lifestyle

Fashion & Beauty


From Bernard Arnault to the Wertheimer brothers, the US$2.5 trillion global fashion industry is not short of billionaires
We look at the richest 15 people in fashion, and how they made their fortunes



From LVMH’s Bernard Arnault to the lesser-known Wertheimer brothers, the US$2.5 trillion fashion industry has produced many billionaires. We take a look at the wealthiest 15 people in the industry, and how they built their fortunes.


Fashion billionaires: ranking the top 15 richest people in the industry

From Bernard Arnault to the Wertheimer brothers, the US$2.5 trillion global fashion industry is not short of billionaires We look at the richest 15 people in fashion, and how they made their fortunes

15. Chip Wilson US$6.1 billion

From Bernard Arnault to the Wertheimer brothers, the US$2.5 trillion global fashion industry is not short of billionaires

We look at the richest 15 people in fashion, and how they made their fortunes