Fashion Nova is entirely owned by its founder, Richard Saghian, who started the company in 2006 after dropping out of college. He remains sole owner and CEO today, running a fast-fashion empire that generates an estimated $2 billion in annual sales without ever taking on outside investors or going public.
The son of Iranian immigrants, Saghian built Fashion Nova into one of the most-searched fashion brands in the world — in 2018, it topped Google search interest ahead of luxury names like Louis Vuitton, Versace, and Gucci. His personal wealth shows in his real estate: he bought a Beverly Hills headquarters for $118 million and previously purchased a Bel Air estate for $141 million.
Quick Facts
| Company | Fashion Nova |
|---|---|
| Owner & CEO | Richard Saghian, 100% ownership |
| Founded | 2006 |
| Ownership Structure | Privately held, no outside investors |
| Estimated Annual Sales | ~$2 billion |
| Headquarters | Beverly Hills, California |
Ownership History
| Year | Development |
|---|---|
| 2006 | Richard Saghian founds Fashion Nova, initially as a physical retail store |
| 2010s | Fashion Nova shifts aggressively into e-commerce and social-media-driven marketing, partnering with celebrities including Cardi B and Kylie Jenner |
| 2018 | Fashion Nova becomes the most Googled fashion brand in the world |
| 2022 | Company pays $4.2 million to settle FTC allegations that it suppressed negative customer reviews online |
| 2026 | Saghian remains sole owner and CEO, with the company generating an estimated $2 billion in annual sales and no outside investors |
Key Ownership Highlights
- Fashion Nova’s rise as a social-media-first fashion brand, built on influencer and celebrity partnerships rather than traditional advertising, set a template many fast-fashion competitors later copied.
- Saghian’s decision to remain fully privately owned throughout the brand’s growth has let him retain complete control over pricing, product strategy, and marketing without outside shareholder pressure.
- The 2022 FTC settlement over suppressed reviews remains one of the more notable regulatory episodes in the company’s history, though it didn’t affect Saghian’s ownership structure.
Related Reading
See also our profile of fellow American denim brand Levi’s.
FAQ
Who owns Fashion Nova?
Richard Saghian, the company’s founder, owns 100% of Fashion Nova and continues to serve as CEO.
Is Fashion Nova a publicly traded company?
No. It remains entirely privately held, with no outside investors or public shares.
