Richest Designers in the World
Who are fashion designers?
Fashion designers are individuals who design clothes for people to wear. They create clothing lines that follow trends, styles, and ideas they have come up with in the process of designing their new line or collection. Fashion designers work closely with textile experts so that they can manufacture these designs using different textiles and fabrics as well. One thing all fashion designers have in common is that they are creative individuals who love to make clothes and share their fashion sense with the world.
How Fashion designers make money
Fashion designers make money in many different ways. They collect royalties from the sales of clothing under their name, they earn a salary by designing collections for fashion labels or major retailers, they may also create and sell individual designs directly to consumers online.
How much do Fashion Designers Make?
The amount that an average fashion designer makes is dependent on the designer’s level of success. A successful fashion designer can earn millions a year for their work on clothing lines, and those who are less successful may only be able to make a living wage from royalties or salaried positions.
What is the best way to make a lot of money? Start designing clothes. The richest fashion designers in the world have made billions of dollars through their designs, and they are not slowing down anytime soon. In this blog post, we will share with you 10 of the richest fashion designers in the world – so that you can get some inspiration from them!
“Fashion is an industry that has been on the rise for decades. It’s a multibillion-dollar business, with designers from all over the world vying to be at the top of their game.
Fashion is a $2.3 trillion dollar industry, with more than 200 billion dollars of that coming from the United States alone. As one of the leading producers and consumers of fashion in the world, it’s no wonder that so many designers have taken off here. One of those designers is Ralph Lauren.
The fashion industry is only expected to grow as the world population grows. The top 10 richest fashion designers are all worth more than $1 billion with some even nearing $5 billion! With these numbers, it’s not hard to see why so many people want in on the action.
Top 10 Richest Fashion Designers in the World 2023
Here are the Richest Fashion Designers in the World (2023):
- Tom Ford Net Worth 2023: $500 million
- Mary-Kate & Ashley Olsen Net Worth 2023: $500 million
- Calvin Klein Net Worth 2023: $700 million
- Michael Kors Net Worth 2023: $1 billion
- Tory Burch Net Worth 2023: $1.5 billion
- Valentino Garavani Net Worth 2023: $1.5 billion
- Domenico Dolce & Stefano Gabbana Net Worth 2023: $1.6 billion
- Miuccia Prada Net Worth 2023: $5 billion
- Ralph Lauren Net Worth 2023: $7.5 billion
- Giorgio Armani Net Worth 2023: $8 billion
20. John Galliano Net Worth: $35 million
Galliano is the 20th richest fashion designer in the world. John Galliano was born on November 26, 1961. He studied at Central Saint Martins College of Art and Design and started his career as an assistant to Jean-Paul Gaultier.
In 1985 he debuted with a show under his own name for the Paris Fashion Week. In 1986 he was made head designer of Christian Dior, and in 1997 Galliano became the artistic director for Givenchy. He is among the Richest Fashion Designers in the World.
He is also a couturier who received acclaim worldwide during his career at both houses. After leaving Jean Paul Gaultier’s company in 1999, John Galliano has been busy with designing as well as personal projects.
19. Betsey Johnson Net Worth: $50 Million
Betsey Johnson was born on August 20, 1944. She studied at the Fashion Institute of Technology in New York and started her career by working for Anne Klein as a design assistant.
In 1964 Betsey Johnson launched her own company with an initial investment from Warren Cowan who would go on to be one of America’s first celebrity publicists.
Betsey Johnson is famous for her unique and feminine designs which often incorporated bright colors and lively patterns of stripes, polka dots, florals, paisley or leopard spots with a combination of fabrics like velvet, tulle, organza or lace.
She was awarded the Council of Fashion Designers award for Women’s Fashion in 1986 and the Neiman Marcus Award for Lifetime Achievement.
In 1977, Betsey Johnson became a household name when she was chosen to design the costumes for “Grease” which would go on to become one of Broadway’s longest-running musicals.
18. Jimmy Choo Net Worth: $50 million
Choo was born to a Hokkien Chinese family in Penang, Malaysia.
Loved by women around the world, Jimmy Choo’s shoes sell for up to $7000 per pair. His iconic shoe designs are without a doubt, the talk of any town whenever he unveils his latest collection. Born in Malaysia and raised in England with parents who moved there to help him get started after they left their native country due to political persecution from China (yes!). He is among the Richest Fashion Designers in the World 2023.
it is no surprise that this talented designer has become such an integral icon today. In 1996 when he founded his companyJimmyChoo Ltd., together with British Vogue accessories editor Tamara Mellon.
17. Marc Jacobs Net Worth: $100 Million
Marc Jacobs was born April 18, 1963, in New York City to a Jewish family.
He is an American fashion designer and the creative director of the French luxury goods company Louis Vuitton as well as Marc by Marc Jacobs. The impressive list of his achievements includes only five years since he graduated from Parsons School of Design in 1986 with a BFA in design.
In 1997 he was the creative director of Louis Vuitton and a year later in 1998, Marc Jacobs International began as a licensing business selling handbags, maquettes and apparel for men and women under his name with partner Robert Duffy’s company Dufour Groupe Inc., which had started to distribute Dolce & Gabb ana.
Marc Jacobs is famous for his tendency to blend the Old World European elegance of Louis Vuitton with a downtown cool New York edge, and he has been cited as one of America’s most influential designers.
16. Coco Chanel Net Worth: $100 Million
Coco Chanel was born on August 19, 1883 in Saumur France to a large family of farmers and seamstresses.
She dreamed of becoming an actress but settled for designing hats, which led her to open her first Atelier at 15 Rue Cambon Paris with $300 she had saved up from years as a shop assistant. He is among the Richest Fashion Designers in the World.
Chanel was the first woman to be awarded the rank of Grand Officier de la Légion d’honneur in 1935 and became a member of The French Academy that same year. Her legacy endures widely today as one of France’s most famous female fashion figures (along with Queen Marie Antoinette and Jeanne Lanvin).
15. Kate Spade Net Worth: $200 Million
Kate Spade was born on October 24, 1962 in Kansas City Missouri. She had an interest in fashion from a young age and moved to New York at 18 years old where she worked for Mademoiselle magazine until 1988.
In 1993 Kate launched her own line of luxury handbags that would go on to become one of the most recognized designer brands in the world.
In 2017 Kate Spade and her husband Andy died within a few days of one another, leaving behind their 13-year-old daughter Frances as an orphan. Kate’s legacy lives on through her company which is now owned by Neiman Marcus Group who acquired it for $55 million in 2018.
14. Vera Wang Net Worth: $270 million
Vera Wang is one of the most renowned fashion designers in America. She’s best known for dressing first ladies and stars at red carpet events, as well as her work with bridal gowns that are often seen on celebrities who have their weddings televised.
Wang has worked closely with various luxury brands such as Ralph Lauren where she was appointed the Creative Director for Women’s Collections in 2001. She is among the Richest Fashion Designers in the World 2023.
Wang is the mother of two children and has been married twice. She lives with her second husband, Henry Charles David Wang, at their mansion in Connecticut where they have created a welcoming environment that would make any visitor feel right at home.
13. Jean-Paul Gaultier Net Worth: $300 million
Gaultier is an iconic French fashion designer who has become a household name in the world of couture.
He has often been called “the greatest living haute couturier.” Gaultier was born on October 24, 1952 and studied at Central Saint Martins school. In 1976 he staged his first show under his own name.
He was the first French couturier to show a live fashion show on television with his own name in 1986, and he has also been credited for having coined the term “Haute Couture.” Gaultier is known as one of the most prolific designers of his generation because of how fast he produces work.
Jean-Paul Gaultier has received many awards and honors, including two wins of the prestigious French fashion award “Prix de la Mode.” He is also recognized by his signature style: tight bodices with corsets and skirts that are full in volume. He became widely known for dressing pop star Madonna’s costumes during her 1990 Blond Ambition tour, as well as for his iconic corset design in the song “Vogue” by Madonna’s cohort in 1990.
He has been awarded The Golden Thimble award (Anglo-French) 2003 and he is a Commandeur of L’Ordre des Arts et Des Lettres 2006.
12. Donatella Versace Net Worth: $400 Million
As the company’s president and CEO, Versace is largely responsible for revamping its image in recent years. In 1997, she was appointed as co-president of the luxury goods conglomerate her brother had founded 30 years earlier. She left nine years later to pursue other interests but returned just two year after that.
Her main responsibilities now are managing the company’s worldwide marketing and advertising. As of this year, her net worth is estimated at $400 million. She is among the Richest Fashion Designers in the World 2023.
11. Tommy Hilfiger Net Worth: $450 million
Tommy Hilfiger founder, designer and CEO of the Tommy Hilfiger Corporation is an American fashion designer. He has been awarded The Golden Thimble award (Anglo-French) 2003 and he is a Commandeur of L’Ordre des Arts et Des Lettres 2006. As the company’s president and designer, he oversaw global operations until 1985.
Hilfiger is also the main judge on Bravo’s “Under The Gunn”, a reality show where aspiring fashion designers compete for his approval and mentorship. As of this year, Hilfiger has an estimated net worth of $450 million.
10. Tom Ford Net Worth: $500 million
Tom Ford is an American fashion designer, film director and screenwriter. He has been the creative director of Gucci Group since 1994; he also designed a dress for First Lady Michelle Obama that was well received by critics in 2016.
He stepped down as chief executive officer at Gucci Group on July 15th 2017 but remains its largest shareholder with approximately a 25% stake in the company. He is among the Richest Fashion Designers in the World.
Ford has been awarded nine CFDA awards, including Menswear Designer of the Year twice and Womenswear Designer of the year three times. He also received an Academy Award nomination as a producer on “A Single Man”. His net worth is currently $500 million dollars.
9. Mary-Kate & Ashley Olsen Net Worth: $500 million
The Olsen twins, Mary-Kate and Ashley, were two former child actresses who became fashion designers. They created their Dualstar company at the tender age of 18 in 2004 and have since been making clothes for women all over North America as well as launching a couture label called The Row named after Saville row in London where they had studied Fashion Designing while attending Brown University before returning to acting with what would be one last movie together; New York Minute starring opposite Lucy Liu.
The Olsens’ clothing line can now be purchased from Walmarts across Canada which is great news if you’re looking for that perfect dress or blouse!
8. Calvin Klein Net Worth: $700 million
Nobody can deny that, for better or worse, Calvin Klein is one of the most influential fashion designers in American history. Born to a Jewish family on Long Island and raised in Brooklyn’s middle-class area known as Bay Ridge, he got his start working for Brooks Brothers before launching a line of jeans.
The company’s now worth more than $700 million and it employs a whopping 850 people at its headquarters in Midtown Manhattan. He is among the Richest Fashion Designers in the World.
Klein was one of the first designers to turn models into superstars, using celebrities like Brooke Shields and Kate Moss for his campaigns and transforming women into icons with groundbreaking ads that featured unphotoshopped models in their natural state.
His company is still going strong, too: Last year they generated $235 million in revenue and the brand remains a favorite among celebs like Kendall Jenner, Gigi Hadid and Kim Kardashian West.
In an iconic moment, Klein infamously declared that “nothing comes between me and my Calvins” and this brand has been going strong ever since. Calvin Klein was born in 1942 to European Jewish parents, Calvin Richard Klein (an accountant) and Evelyn Klein (a housewife), both of whom were immigrants from Poland.
7. Michael Kors Net Worth: $1 billion
Michael Kors was born on 24th September 1959 in New York City. He is an American fashion designer who has a net worth of about $390 million and more than 550 stores across the globe.
In 1981, he began working as a design assistant for Donna Karan International; in 1984, he became the company’s design director. He is among the Richest Fashion Designers in the World 2023.
In 1989, Karan wished to create a more affordable line of clothing for Donna Karan International and asked Kors to head up this new project; it was then that Michael Kors launched his first eponymous collection in New York City.
6. Tory Burch Net Worth: $1.5 billion
Tory Burch (born October 27, 1966) is an American fashion designer. She has a net worth of about $550 million and she founded her namesake company in February 2004 with one handbag design.
Burch was born to Dorothy Tory Lockwood from Oklahoma City, who had been married more than three times by the time Tory was born, and Lawrence Burch.
Burch’s maternal grandmother had a long history in fashion as she owned her own clothing store for years; Tory would often visit the store with her mother when they were stationed in various cities during his father’s military career.
Burch studied at Brown University before dropping out to pursue an internship at Vogue magazine. She then attended the Parsons School of Design in New York City where she studied textiles.
Burch’s career began as a journalist, serving for four years at W Magazine while also writing features on fashion and popular culture. She left Vogue to become Fashion Director and Editorial Director of GQ magazine from 1998-2001 before launching her own brand in 2003.
His eponymous fashion label has been nominated for several CFDA Awards, including Designer of the Year twice (in 2007 and 2010) and Emerging Talent in 2004.
5. Valentino Garavani Net Worth: $1.5 billion
Valentino Garavani has been designing luxury clothing for more than fifty years. He has dressed some of the world’s most famous women, from Jacqueline Kennedy to Michelle Obama.
As an immigrant from Italy who arrived in Paris with little money and no knowledge of French, Valentino Garavani managed to become one of fashion’s richest names by combining his signature romantic and dramatic style with the sensibility of a couturier. He is among the Richest Fashion Designers in the World 2023.
Valentino is currently designing for his own brand as well as working on projects in Paris, Milan, London, Shanghai and New York. With annual earnings from those ventures estimated at $300 million by Forbes magazine, Valentino Garavani has an estimated net worth of $1.5 billion.
4. Domenico Dolce & Stefano Gabbana Net Worth: $1.6 billion
This Italian designer duo founded their luxury fashion house in 1985. They have created a wide variety of designs, including rich and extravagant fabrics with eclectic patterns to bold gangster suits that look like they are from the Prohibition era.
In addition to these amazing styles, one thing stands out about them: their marketing campaigns always include sumptuous visuals; be it billboards or center-fold magazine spreads – you will never see anything less than an aesthetic feast when looking at any piece made by this company!
There are two words that describe Dolce & Gabbana today: luxury and innovation. The world first fell in love with their luxurious style of design, but over the years Domenica Dolce and Stefano Gabbana have expanded to include more than just fashion – they now encompass everything from fragrances to eyewear or hotels! As of 2023 each of them is worth some $1.6 billion which makes this duo one wealthy Italian family indeed!
3. Miuccia Prada Net Worth: $5 billion
Miuccia Prada is a living legend in the world of fashion. She was born into an artistic family and started working with her father’s company at the age of 15 – she went on to be one of their best designers, eventually taking over as creative director when he retired from his position. Her creations have been worn by some of the most famous people in Hollywood, and she’s also a successful businesswoman – her company Prada is worth $14.16 billion dollars!
Miuccia Prada, who started the luxury leather goods company with her husband and father-in-law in 1978 at the age of just 23 years old. Miuccia began designing bags for their new line starting 1979 after taking over from Patrizio Bertelli as head designer when he retired that same year.
Miuccia has been incredibly successful since then, amassing an astonishing amount wealth even by today’s standards! Her most famous designs include The Baguette Bag (1985), Handbag With Uranus Handle(1989).
2. Ralph Lauren Net Worth: $7.5 billion
Ralph Lauren is an American fashion designer, best known for his Polo Ralph Lauren clothing brand. After serving in the US Army and studying at Baruch College, he worked as a salesperson for Brooks Brothers before launching his own company named after himself with just $50 thousand dollars of capital from making ties. His first design was this very popular polo shirt in 1968.
Now, the Ralph Lauren brand has expanded to include everything from denim and footwear to furniture, eyewear and more. He is among the Richest Fashion Designers in the World.
Ralph is also the owner of a chain of RRL stores that sell both vintage reproductions as well as his own current designs. He’s been heralded for having one of the most successful track records in the industry.
1. Giorgio Armani Net Worth: $8 billion
The Italian fashion designer, entrepreneur, and founder of the Armani company (Giorgio Armani) is worth a whopping $8 billion which makes him the Richest Fashion Designer in the World 2023. He got his start in 1965 by opening a boutique called “Arma” which was initially focused on menswear but soon expanded to include womenswear as well.
His designs became so popular that he opened his first high-end boutique in Italy, 24 years later his company had over 300 boutiques and Armani’s personal worth was $8 billion. He is credited with being one of the first designers to bring Italian style to an international audience.