Giorgio Arman with his $7.7B net worth and Ralph Lauren with his $7.1B net worth top the list as the highest-paid fashion designer in the world. They are not only fashion designers, but also successful entrepreneurs that have been working hard to reach their luxury status.
Miuccia Prada, the third richest fashion designer and richest fashion design woman in the world has embarked on a fantastic journey to give the world beautiful creations. See the full list below.
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Giorgio Armani – $7.7B
Giorgio Armani is a legend when it comes to the fashion design world. He is famous for bringing a soft and minimalistic style to high-end menswear. He’s and his empire, as of 9.24.2021, is worth a stunning $7.7B. Armani’s history is an exciting one. He left his studies in the medical field to start military service.
Afterwards, he started working as a buyer and window dresser for a department store in Milan. That initiated his interest in fashion design, but he wanted more than just working with clothes, he wanted to design the clothes. During the 70s, he started designing clothes with his partner Sergio Galeotti.
During the 80s, Armani was asked to design clothes for the American movie American Gigolo, which made the popularity of the clothes explode. Since then, Armani has explored different types of fashion categories and the expansion of the company has never stopped.
Ralph Lauren – $7.1B
Ralph Lauren got started with his business in 1967. Interestingly enough, Neiman Marcus make Ralph Lauren breakthrough when they ordered 1200 ties from Ralph Lauren.
He had a small office at the Empire State building at the start and business was slow, however, the order made his brand recognized and the money started rolling once more people recognized the luxury brands uniqueness.
Ralph Lauren is, as of 9.24.2021, worth $7.1B. That’s something considering that he was born in the Bronx to immigrant Jewish parents that didn’t have the best financial situation throughout his childhood. For over 30 years, Ralph Lauren has been active and supporting breast cancer research organisations and foundations. In 1989, he co-founded Georgetown’s Nina Hyde Center for the cause.
Miuccia Prada – $4.3B
The Italian Miuccia Prada is the granddaughter of Maria Prada, the founder of the Prada. Miuccia took over the company and owns 65% of the shares today, meanwhile, her husband, Patrizio Bertelli, own 35% of the private shares.
20% is floating on the main board of Hong Kong Exchange. Miuccia is worth a staggering $4.3B as of 9.24.2021 according to Forbes.
Miuccia is the head of design and leads the company as the co-CEO. She’s one of the most powerful women in the world that took the world by storm once she took control of the Prada empire. Demand for Prada is still growing and its focus on the Chinese market will continue to ensure growth for the brand.
Her accomplishments have been recognized year after year and she was listed as the 75th most powerful woman in the world 2014, according to Forbes.
Domenico Dolce – $1.4B
Domenico Dolce, the Sicilian half of the Dolce & Gabbana duo that founded D&G in 1985. In 1985 they both met in a night club and it just clicked there. A year later they had their first line of fashion ready and had its debut at Milan Fashion Week. The style instantly got recognized for its extravagance and animal print designs.
The real big breakthrough was when Madonna chose Dolce & Gabbana for her Girlie tour. D&G designed the costumes and made sure that the style was on par with Madonna’s ego.
Stefano Gabbana – $1.4B
Stefano is the Milan part of the Dolce & Gabbana design duo. Stefano is the son of a factory worker dad and a mother who was employed to iron clothes for a laundry service company. Dolce and Gabanna were a couple for many years but chose to end the personal relationship in 2003.
They are still working together, but a very complicated private life with homosexuality as something not so accepted in Italy at the time.