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.
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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.