11. Giorgio Armani (US$8.5 billion)

Founder Giorgio Armani is the sole shareholder of the Armani Empire, which reaches into everything from haute couture to sportswear, beauty, restaurants, interior design, hotels and resorts, and ready-to-wear fashion, among others. Starting his journey in 1975, Giorgio Armani has rightly earned the title as one of the most successful designers in the history of his home country, Italy.

10. Heinrich Deichmann (US$9.5 billion)

The brand Deichmann has become the largest footwear retailer in Europe. What began as a cobbler’s shop started by Heinrich Deichmann’s grandfather in Germany in 1913 has since turned into a billion-dollar business. The CEO often engages in charitable works with programmes that bring medical aid to developing countries and support the homeless.

9. Anders Holch Povlsen (US$11.4 billion)

Anders Holch Povlsen was just 28 when he became the sole owner of his parents’ clothing company. He is the CEO of the international clothing retail chain Bestseller (parent company of Vero Moda and Jack&Jones and shareholder in ASOS and others online companies). He is currently the largest individual private landowner in the UK.

8. Stefan Persson (US$18.5 billion)

According to the Forbes Billionaire’s List, Carl Stefan Erling Persson (to use his full name) is the 58th richest person in the world. He is the former chairman of fast fashion retailer H&M, which also happens to own COS, Monki, Weekday, & Other Stories, H&M Home and Arket. Persson stepped down as chairman in May 2020 leaving his son, Karl-Johan, to take the reins of a company that now has over 4,900 stores in 73 different markets.

7. Leonardo Del Vecchio (US$22.2 billion)

This Italian billionaire businessman is the world’s largest producer and retailer of glasses and lenses. The founder and chairman of the brand Luxottica, Del Vecchio went on to acquire Sunglass Hut, Ray-Ban and Oakley, and make glasses for brands including Chanel and Bulgari. With 77,734 employees and over 8,000 stores, Del Vecchio enjoys a net worth of US$22.2 billion, making him the second-richest man in Italy, and the 50th richest in the world.

6. Gerard & Alain Wertheimer (US$24.6 billion each)

Termed “the quietest billionaires in fashion”, the Wertheimer brothers are co-owners of the Chanel empire. Alain serves as Chanel’s chairman while Gerard manages the company’s watch department in Switzerland. In addition to Chanel, the brothers own a number of vineyards in France and Napa Valley.

5. Tadashi Yanai (US$32.9 billion)

Yanai owns the Japanese clothing empire Fast Retailing, the largest clothing retailer in Asia and parent company of Uniqlo. His success stories is impressive – Yanai opened his first Uniqlo store in 1984 and has since managed to expand the Japanese brand to more than 2,000 stores in 20-plus countries. Hard to believe that the richest person in Japan began his career at his father’s roadside tailor shop. His company’s revenue in the last financial year alone amounted to US$21.3 billion.

4. François Pinault (US$44.3 billion)

Pinault is the owner of the Kering luxury group, which encompasses iconic fashion houses such as Gucci, Alexander McQueen and Saint Laurent. Pinault and his family also own the Christie’s auction house, and a 3,000-piece art collection with works by Picasso, Mondrian and Jeff Koons. The Pinault family donated US$109 million to the rebuilding of Paris’ Notre Dame Cathedral following the April 2019 fire.

3. Phil Knight (US$49.2 billion)

Knight ran track at the University of Oregon and created Nike shoes with the help of his former running coach Bill Bowerman. In 1964, they each stumped up US$500 to start what would later become known as Nike, but was then called Blue Ribbon Sports. Today Nike’s revenues top US$44 billion. Knight retired as chairman of Nike in 2016 after 52 years.

2. Amancio Ortega (US$67.6 billion)

Ortega is the co-founder of the Spanish fashion retail group Inditex. Inditex is officially one of the world’s largest clothing retailer and owns Zara, Pull&Bear, Bershka, Massimo Dutti, Stradivarius and several other brands. Ortega owns a not-too-shabby 60 per cent of Inditex which he founded with his ex-wife Rosalia Mera in 1975.

1. Bernard Arnault (US$115.8 billion)

Septuagenarian Bernard Jean Étienne Arnault is the chairman and CEO of LVMH, the world’s largest luxury goods company. He also became the world’s richest person for a short time in January 2020. His empire is based on more than 70 brands (almost equal to his age, 71) and include Louis Vuitton, Dior, Moet-Hennesy, Christian Dior, Sephora and Bulgari. Right now, he enjoys the top spot as the richest person in fashion.

This article originally appeared on Luxury Launches.

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