Forbes Top 10 Richest Fashion Designers in the World

Who are the richest fashion designers in the world? – Fashion is no doubt a great part of living. We all love to look good and boost our self-confidence. Yes, according to a study, looking good can help build self-confidence. So, if you are struggling with your self-confidence, try looking good always, I’m sure it will work out like magic.

Over the years, so many people of great talent have worked relentlessly to put their talents out there, thereby contributing to the evolution of fashion in our world. They have continually satisfied our quest as lovers of fashion and in between, made a name for themselves.

Here are the top 10 richest fashion designers in 2022:

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1. GIORGIO ARMANI – $9.6 Billion

Giorgio Armani is currently the richest fashion designer in the world. The Italian Fashion Designer and entrepreneur is the founder of the Armani Company, which started as a boutique in 1965 named Arma.

At first, Armani dealt only in menswear but later graduated to dealing in women’s wear too. His designs and works became so popular and as a result, he now has over 300 boutiques around the world and is continually expanding his coast.

His ready-to-wear lines include Armani Prive, Emporio Armani, and Giorgio Armani. And the more affordable diffusion lines of the main Armani collections are Armani Exchange, Armani Collezioni, and Armani Jeans.

Apart from his ready-to-wear lines, Armani has also ventured into housewares (Armani Casa), Confectionary (Armani Dolci), Florist service (Armani Fiori) and also, and Hotels (Armani Hotels). Armani Hotels is however in collaboration with Emaar Properties PJSC, a real estate development company from the U.A.E

He has always been given the credit of being one of the first designers to bring the Italian fashion style to an international audience. Additionally, he tops the list of richest fashion designers in the world in 2022 with an estimated net worth of $9.6 billion, according to Forbes.

2. RALPH LAUREN – $7.5 Billion

Ralph Lauren is an American Fashion Designer who became popular as a result of his Polo Ralph Lauren brand. He started his career manufacturing men’s neckties and later graduated to designing his own menswear in 1968. Lauren named this menswear Polo and he confirmed it was inspired by his love for sports.

He continually grew over the years. From going into designing womenswear also, to releasing a short-sleeve cotton shirt in 24 colours designed with the popular logo of his polo player creation.

The brand is currently broadened, involving other investments apart from denim and footwear. Some of which are furniture, eyewear and so on.

Ralph Laurel is considered one of the top successful and richest fashion designers in the world in 2022. As of 2022, his net worth is $7.5 billion.

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3. MIUCCIA PRADA – $5 Billion

Miuccia Prada was born into an artistic family. She started working at her father’s company at the age of 15 and ended up taking over the position of creative director. That was after her father retired.

She started the luxury leather goods company with her husband and father-in-law in 1979. This was after taking the position of Patrizio Bertelli as a head designer after he retired.

Her famous designs include The Baguette Bag (made in 1985), and Handbag with Uranus handle (in 1989). Prada’s creations were quite popular among the most famous people in Hollywood. As a successful businesswoman, she has an estimated net worth of $5 Billion, making her one of the richest fashion designers in the world in 2022.

The Italian designer duo founded the world-famous Dolce & Gabbana brand in 1985. Over the years, Domenico Dolce & Stefano Gabbana have shaken the world with their creativity and innovations. They created diverse designs which included rich, extravagant, and luxurious fabrics and this greatly made way for this name.

Despite being able to win the world’s love, they didn’t relent but went further to expand their business. They now make fragrances, eyewear, and even deal in the hotel business. They are considered the 4th richest fashion designers in the world in 2022.

As of 2022, they are worth $1.7 billion each.

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5. VALENTINO GARAVANI – $1.5 Billion

Garavani is an Italian Fashion Designer who has been into luxury clothing for more than fifty years. He has dressed movie stars and famous women; this includes Michelle Obama and other dignitaries.

Valentino Garavani is well known for his making of brilliantly gorgeous gowns after his first handmade gown was showcased in the year 1962.

He is currently designing for his own brand and also working on projects in Paris, London, Milan, Shanghai and New York. His annual earnings have been estimated by Forbes at $300 Million. He is considered one of the richest fashion designers in the world in 2022, having amassed a net worth is $1.5 billion.

6. TORY BURCH – $1 Billion

When her company was first founded in 2004, it was known as TRB by Tory Burch. Burch’s style is known for the T-logo medallion. She makes use of preppy-boho with a touch of bohemian luxe. Which is quite easy to wear and versatile. This is therefore popular among working women who go from their workplaces to parties.

She has successfully grown her company to have over 250 stores worldwide and her collections are carried in over 3000 department stores and speciality stores. She is number 6 on the list of the richest fashion designers in the world in 2022.

As of 2022, her net worth is $1 billion.

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7. CALVIN KLEIN – $700 Million

Calvin Klein started his fashion house as a coat shop in New York in the year 1968. Although he finally graduated from lifestyle and accessories to home furnishings and Jewelry.

In the 80s, he revolutionize men’s underwear from y-fronts to a garment that men started to care about. And in 2002, the Calvin Klein Empire was signed on a 15-year contract with Philips Van Heusen Corp (PVH), but Klein remained the creative head. Ever since, the company has not stopped flourishing.

Calvin Klein’s Net worth has been estimated to be $700 Million.

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8. VERA WANG – $650 Million

Vera Wang launched her own collection after opening her own bridal boutique. This was following her 15 years of service as a senior fashion editor at Vogue and as a designer at Ralph Lauren.

She is a prominent designer of bridal wear in America and has done quite well for herself whilst achieving a lot. Some of her achievements are:

• The 1993 Chinese American Planning Council’s Honoree of the Year Award,
• The 1994 Girl Scout Council’s Woman of Distinction Award,
•  Also in 1994, she was elected a member of the Council of Fashion Designers in America (CFDA)
• And an accolade from CFDA as the Womenswear Designer of the Year in 2005.

9. MICHEAL KORS – $600 Million

Micheal Kors’ first start-up of his Women’s label at Bergdorf failed thereby forcing him to put his then KORS’ line on hold. But in 1997, he picked up again, he launched a lower-priced line. During this time, he also worked at the House of Celine as a designer of the Women’s ready-to-wear line. He received several accolades at this time for his creativity and what his creativity yielded for the company.

In 2004, he expanded his coast and included handbags, and shoes, alongside his women’s ready-to-wear clothes. The Micheal Kors Line never stops growing as they already have a record of 770 lifestyles around the world.

She is estimated to have a Networth of the sum of $600 Million.

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10. TOM FORD – $500 Million

Tom Ford is a world-famous fashion designer. At some point, he was the Creative Director of Gucci and also, Yves Saint Laurent. While working for these brands, they rose up to the position of one of the top world-famous fashion brands.

Later on, he left to launch his own clothing brand, he also became the chairman. He deals in Men and women’s wear. Ford has over the years, dressed numerous stars for several occasions and has never stopped being applauded for his creativity by the crowd.

Remember the 2011 Michelle Obama’s visit to Buckingham Palace? The gorgeous floor-length ivory gown she wore that made headlines was designed by Ford.

And yes, he is not just a fashion designer, he is also featured in movies such as Single Man and also, Nocturnal Animals.

Regardless of the huge drop in his net worth ($1 billion), he still makes it to the list of the top 10 richest fashion designers in the world in 2022. As of 2022, he has an estimated net worth of $500 million.

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Graphical Representation of the Richest Fashion Designers’ Net Worth

Conclusion: Richest Fashion Designers in the World

Here is  a summary of the top 10 richest fashion designers in the world and their net worth:

• GIORGIO ARMANI – $9.6 Billion
• RALPH LAUREN – $7.5 Billion
• MIUCCIA PRADA – $5 Billion
• DOMENICO DOLCE & STEFANO GABBANA – $1.7 Billion
• VALENTINO GARAVANI – $1.5 Billion
• TORY BURCH – $1 Billion
• CALVIN KLEIN – $700 Million
• VERA WANG – $650 Million
• MICHEAL KORS – $600 Million
• TOM FORD – $500 Million

Fashion is lucrative and a fun business to venture into if you are good and smart at it. Check out these  15 tips to become a Fashion designer