Fashion Designing has been the most challenging industry in the world. It is defined as the application of arts and aesthetics to accessories and clothing. It not only involves imaginations but also demands a constant touch with the latest trends. To be a leading designer one must also anticipate the customer’s taste.
Some of the clothes may be made for a specific person but one must always concentrate on the designs which are suitable for mass market. Here is the list of top ten richest fashion designers in the world in 2020 which have amazed the customers by their designs.
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10. Marc Jacobs
Net Worth: US $100 Million
Marc Jacobs is a celebrated American fashion designer who was born on 9th April 1963. He graduated from Parsons The New School For Design. He is the head designer of well known fashion label Marc Jacobs. This fashion label has more than 200 retail stores on more than 80 countries. In 2010 he was regarded as one of the 100 most influential people in the world. His brand also owns a label known as Louis Vuitton. He has been honored with an Award known as Knight of the Order of Arts and Letters.
9. Betsey Johnson
Net Worth: US $50 Million
She was born on 10th of August 1942. She is an American designer best known for her whimsical and feminine designs. Her designs are considered embellished and over the top. She was born in Wethersfield, Connecticut, USA. She graduated from Syracuse University. After her graduation she worked as an intern at Mademoiselle Magazine. In 1970s she took over the control of a renowned fashion label which was known as Alley Cat. In the year 1972 she won the Coty Award and started her own fashion Label in the year 1978.
8. Kate Spade
Net Worth: US $150 million
Kate Spade is now known as Kate Valentine. She is an American fashion designer and businesswoman who were born in the year 1962 on 24th December. She is the former co-owner of the celebrated brand known as Kate Spade New York. She was born in Kansas City Missouri. She graduated from Arizona State University. She completed his degree in Journalism in the year 1985. She launched her celebrated brand in the year 1993. In the year 2004 Kate Spade at home was launched as a home collection brand. Neiman Marcus Group purchased Kate Spade in the year 2006.
7. Tom Ford
Net Worth: US $2.9 Billion
Tom is the abbreviated form of Thomas Carlyle. This legendary fashion designer was born on 27 August, 1961 in Austin, Texas (USA). Apart from fashion designer he also works as Film director, film producer and screenwriter. He gained public attention while working at Gucci as the creative director. It was the year 2006 when he started his own firm called Tom Ford. He directed two films known as A Single Man and Nocturnal Animals and both of them were nominated for Oscar.
6. Ralph Lauren
Net Worth: US $5.5 Billion
This name needs no introduction as this brand is a global multibillion-dollar enterprise. The founder of this corporation was born on October 14, 1939. Apart from designing he is also a business executive and Philanthropist. He is also known for his rare collection of automobiles which have been displayed in museum exhibition. In the year 2015 Mr. Lauren stepped down to the post of Chief Executive Officer of the company. He is currently the 233rd richest person in the world.
5. Coco Chanel
Net Worth: US $19 billion
Gabrielle Bonheur Coco Chanel was the founder and namesake of the Chanel Brand. She was born on 19 August 1883 and died at the age of 87 on 10 January 1971. She was a French fashion designer and businesswoman. She also extended her influence in Fragrance, handbags and jewellery. Her signature Scent Chanel No. 5 became an iconic product. She is the only fashion designer listed among top 100 most influential people in the world in 20th century. In the year 1957 she also won Neiman Marcus Fashion Award.
4. Giorgio Armani
Net Worth: US $8.5 Billion
This celebrated fashion designer was born on 11 July 1934, in Emilia-Romagna Kingdom, Italy to Maria Raimondi and Ugo Armani. His designing career started in the year 1957 when he found a job as a window dresser at La Rinascente. He founded Giorgio Armani on July 24, 1975 and presented his first ready to wear collection in the year 1976. He also won CFDA International Award in the year 1983. Today he is known for his clean and tailored lines. In the year 2001 he was also known as the best designer in the history of his nation. His company has an annual turnover of $1.6 Billion.
3. Valentino Garavani
Net Worth: US $ 1.5 Billion
Valentino Clemente Ludovico Garavani is the founder of Valentino Spa brand and company. He is an Italian fashion designer who was born on 11 May 1931. His main lines include R.E.D Valentino, Valentino Roma, Valentino Garavani and Valentino. He completed his education from ECole des Beaux, Paris. During his career he won many awards like, The Neiman Marcus Award and Grande Ufficiale dell’ Ordine Award etc. in the year 2007 on September 4, he announced his retirement from the world stage. In the year 2012 his life and work was celebrated through an exhibition in London.
2. Donatella Versace
Net Worth: US$2.3 billion
Donatella Francesca Versace is the current Vise President and chief designer of the Versace group. She was born on May 2, 1955. She owns only 20% share in the business. In the year 1980 her brother launched a perfume label known as Versus which was taken over by her after his death. She has two children and has married twice in her life. She completed her graduation from university of Florence. She is also known to be a patron of the Elton John AIDS Foundation.
Net Worth: US $700 Million
This renowned American fashion designer founded the Calvin Klein house. The head quarters of the company are located in Manhattan, New York city. Calvin Richard Klein was born on November 19, 1942. In addition to clothing his fashion house also deals in Jewelry, perfumes and watches. He was married to a textile engineer Jayne Centre in the year 1964 and later had a child called Marci Klein. In the year 1974 he became the first designer to receive an award for best designs. In the year 1981, 1983 and 1993 he received awards from Councils of Fashion Designs of America.
All the listed designers are extraordinary. The way they have presented their designs in order to bring a revolution in the fashion industry is commendable. Not all of them were born with a silver spoon in their mouth and thus they worked hard in order to earn the place where they stand today. They are also an example of hard work, determination and creativity.