An average American household spends $1,700 a year on apparel, ranging as high as $562. A list of the richest designers from New York tells about the role fashion plays in the economy. Below are the brand names, along with figures and facts that convey the big picture.
Here are some of the richest fashion designers in the world
- Ralph Lauren – Net Worth $8.2 billion.
The 76-year-old stalwart designer has recently stepped back from the company. He will be replaced by Stefan Larsson, the president of Old Navy. Mr. Lauren is not hanging his boots permanently, though. He will still be the Executive Officer and Chief Creative Director with the company. Ralph Lauren has made a name for himself in the industry because they make both couture and commercial clothing. He has always been known for his retail acumen rather than his creative designing abilities, but Lauren remains one of the most respectable people in the fashion industry.
- Michael Kors – Net Worth $1 billion
The designer has been known for dating some big names from the industry. Michael Kors is not only someone who is multifaceted, but he also tries to contribute to the industry well. Mr. Kors is a dedicated philanthropist. The non-profit organization called God’s Love We Deliver that delivers food to home-bound people has named its new headquarters after the designer. And who can forget his stint on Project Runway?
- Tory Burch – Net Worth $1 billion
Presenting some of the most stunning sportswear and comfort apparel, Tory Burch has been a famous name in the industry. Her label offers a selection of tennis outfits, yoga threads, and basic leggings. She has confessed that she was a tomboy while growing up. She became famous after she left her public relations career for a career in designing.
- Calvin Klein: Net Worth $700 million
A darling in the industry, Calvin Klein has been known not only for the designs but the excellent range of fragrances his brand offers. He took one of the boldest decisions after introducing a gender neutral fragrance in CK One. He also launched a mind-blowing reboot in CK2. The star relies on publicity from the starlets including members of the Kardashians.
- Donna Karan – Net Worth $450 million
The DKNY founder recently published a heartwarming memoir and shared her intimate details. Describing her lonely childhood, her four decades in the fashion industry, two disturbing marriages, motherhood, and her continuous quest for self-acceptance and spiritual peace, she opened up with her fans.
- Vera Wang – Net Worth $400 million
The modern-age designer recently co-hosted an A-list fundraiser with Vogue head honcho Anna Wintour for Democratic presidential front runner Hillary Clinton. The fundraiser was held in her Upper East Side apartment. Wang is a strong advocate of modernism and expects the same from every bride who wants to wear her fall collection wedding dresses. She has been experimenting with bridal dresses, and her latest collection is nothing like the conventional demure. The latest collection features exuberant ruffles, midriff baring cutouts, thigh revealing hemlines, and plunging necklines.
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