Fashion design is one of the most difficult industries to enter. Many people attend design school to make a name for themselves in the fashion industry. Project Runway is a success because of this. It’s not easy. However, those who make it in the fashion industry make it big, making millions and even billions of dollars. Many of the world’s most successful fashion designers have multi-million-dollar businesses and a net worth well above a billion dollars. Our favourite designers actually have a net worth that is higher than the $1.59 trillion lottery jackpot.
These are some of our favourite successful designers who have made millions and billions in fashion.
Miuccia Parada has a net worth of $11.1 billion
Miuccia Bianchi Prada, currently head designer at Prada, is also the founder of Miu Miu. In 1978, she took over Prada. She was the youngest grandchild of Mario Prada and it made perfect sense to take over the powerful shoes of the family business. Although she assumed the family business, she proved just as adept at fashion as her predecessors. In 1993, the Council of Fashion Designers of America awarded her the “International Award”. Although her net worth has dropped to $11.1 billion, it is believed that she had a similar net worth in 2013. Forbes still estimates her net worth at 2.4 billion today.
Giorgio Armani has a net worth of $9.6 billion
Giorgio Armani made fashion a success and then expanded his business to music, sports, luxury hotels, and other areas. His brand gained immense credibility when he was named “the most successful Italian designer” in 2001. His net worth was $9.6 billion at its highest. His net worth was $6.69 billion in 2018. We wouldn’t mind seeing that amount in our lifetimes.
Ralph Lauren has a net worth of $8.2 billion
Ralph Lauren is more than just a designer. Ralph Lauren is more than a designer. In addition to being a philanthropist, he is also a businessman. Many people remember him from his appearance on the popular show Friends. The Ralph Lauren Corporation is a beloved brand for many Americans. Ralph Lauren’s net worth was once estimated to be $8.2 billion, but it stands at $6.3 billion as at 2019.
Dolce is worth $1.7 billion
Dolce and Gabbana‘s first half grew up in the apparel industry, so it is no surprise that he has been one of the most influential fashion designers of all time. His father was a tailor, and his mother was an apparel salesperson. Dolce dropped out of fashion school after working as a designer for Giorgio Correggiarai. Gabbana met Dolce at his job and they decided to start their own brand. Fashion history is the rest. Dolce’s highest net worth was $1.74 billion. Dolce was listed in October 2015.
Stefano Gabbana has a net worth of $1.7 billion
Giorgio Carreggiara was Stefano Gabbana’s mentor and he incorporated what he had learned from him into Dolce & Gabbana. As you can see, the rest of his story is history. His net worth was at its peak at $1.7 billion. It was $1.56 billion in March 2015.
Calvin Klein is worth $700 million
Calvin Klein, an American designer, is well-known. He is best known for his denim work, but he also developed a range of perfumes as well as jewellery. He was on the “International Best Dressed List”, won awards from the Councils of Fashion Designers of America and made more than $200,000 in the first week of selling a line of signature jeans. He has seen it all in fashion and has a net worth exceeding $700 million.
Michael Kors has a net worth of $600 million
Michael Kors is not only one of our favourite Project Runway judges, but also one of our favourite designers. It’s not surprising that Michael Kors has a net worth exceeding $600 million. His fashion empire includes stores in every major mall. His purses are often seen on the shoulders of many women around the globe. His brand is growing stronger every day.
Fashion is a major influence on the entire world. It’s not surprising that these designers have such high net worths. Even though times are changing, there is one certainty: If you can make it as a fashion designer, you will be a millionaire.