We all know the fashion industry is quite lucrative, despite this,it is somehow overlooked when lucrative industries are mentioned. Locally the industry is on its marks about to take off. But before it gets to the level evident in this article,here are a few globally renowned designers and estimates of their wealth acquired in this ever evolving industry.
Ralph Lauren
The Bronx-born American fashion designer with a net worth of $7.5 billion dollars. Ralph Lauren attended Baruch College in New York, but did not complete his degree in business, instead dropping out to sell men’s wear. He later began to design his own neckties and men’s clothes, and later added a women’s wear line. He currently owns 35 boutique shops in the US.
Giorgio Armani
Fashion designer known primarily for his men’s fashion, from northern Italy, with an estimated net worth of $7.2 billion dollars. Giorgio Armani originally planned to become a doctor, but after spending time in an army hospital, chose to shift his focus. He began as a window dresser in Milan and moved up the ranks from there. In addition to his various design lines, he also owns a retail network with shops in 37 countries.
Miuccia Prada
An Italian fashion designer and entrepreneur and has a net worth of
$6.8 billion. Miuccia Prada earned her net worth by taking over the
family-owned luxury goods manufacturer in 1978, which was owned by the
Prada brother’s. She began making waterproof backpacks out of Pocone.
She met herhusband and business partner Patrizio Bertelli at the same
time she took the helm of the family company.” Prada has 250 fully owned
shops around the world.
Stefano Gabbana
The Italian fashion designer who has a net worth of $2 billion. Stefano Gabbano was born in Milan, Italy, and was originally interested in pursuing a career in graphic design. He began working for an atelier in 1980, and met Domencio Dolce, also worth $2 billion, there. They started their first fashion company in 1982, and presented their first women’s line in 1985. Their designs were wildly successful, and they were on their way. They opened their first boutique in Asia in 1989, and presented their first men’s collection in 1991. Dolce & Gabbana has become the go-to design team for the Hollywood elite, having designed for multiple music productions including tours by Madonna, Missy Elliot, and Beyonce.
Pierre Cardin
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Is an Italian-born French fashion designer and has a net worth of $723 million. Pierre Cardin earned his net worth as a Tailor and Fashion Designer. He was known for his avant-garde style and his Space Age designs. At age 17 he went to Vichy to become a tailor at a men’s shop. He joined the Parisian fashion house of Paquin and designed the costumes for Jean Cocteau’s film Beauty and the Beast in 1945. He introduced the “bubble dress” in 1954. He created the first ready-to-wear collection in 1959 for women ever presented by a top designer and in 1960 introduced the first designer ready-to-wear collection for men. Throughout the 1960s Cardin continued to design clothes for both men and women that became increasingly fanciful and replete with bright colors.
Allegra Versace
Heiress of Italian descent with a net worth of $800 million dollars. Allegra Versace was born June 30, 1986 in Milan, Italy. She is the niece of legendary fashion designer Gianni Versace. Her mother is Donatella Versace (Gianni’s sister) and her father is a former fashion model named fashion model named Paul Beck. According to celebritynetworth.com,after Gianni was murdered in 1997 by a deranged fan, Allegra inherited a 50% ownership stake in the world famous Versace fashion empire. Her mother Donatella inherited 20% of the company and her uncle Santo (Gianni’s brother) inherited 30%. Allegra was eleven years old at the time of her uncle’s tragic murder. Allegra has spent much time actively learning the ins and outs of the family businesses and is starting to take a much more authoritative role as she enters her 30s. She currently is a board member of Versace.
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