Top 10 Wealthiest Fashion Designers in the World

Giorgio Armani currently holds the title of the world's wealthiest fashion designer. The Italian fashion designer and entrepreneur founded the Armani company, starting with a small shop in 1965 called Arma. His fame skyrocketed in the United States in the 1980s when his 'power suits' for men became a frequent feature on the TV show Miami Vice and in the 1980 film American Gigolo, starring Richard Gere in Armani's signature attire.

Initially, Armani focused on men's clothing but later expanded into women's fashion. His designs and creations became highly popular, resulting in over 300 stores worldwide, with ongoing expansion. His ready-to-wear clothing lines include Armani Prive, Emporio Armani, and Giorgio Armani. Popularly priced lines beyond Armani's main collections include Armani Exchange, Armani Collezioni, and Armani Jeans.

Beyond ready-to-wear clothing, Armani ventured into home goods (Armani Casa), Confections (Armani Dolci), Floral services (Armani Fiori), and Hotels (Armani Hotels). However, Armani Hotels collaborates with Emaar Properties PJSC, a real estate development company from the UAE. Giorgio Armani is consistently recognized as one of the first designers to bring Italian fashion style to the international audience. Additionally, he tops the list of the world's richest fashion designers in 2022 with an estimated net worth of $9.6 billion, according to Forbes.

Net Worth: $9.6 billion USD

Miuccia Prada serves as the Co-CEO and Co-Creative Director of the Italian fashion and handbag brand Prada, while also being the Creative Director of Miu Miu. Born into an artistic family, she began working in her father's company at the age of 15 and eventually assumed the position of Creative Director. She co-founded the luxury leather goods company with her husband and father-in-law in 1979, taking over as head designer when Patrizio Bertelli retired.

Miuccia Prada transformed her family's modest leather goods store into one of the leading ready-to-wear fashion powerhouses. Prada is now the flagship brand of the publicly listed Prada Group, which includes Miu Miu and footwear manufacturers Church's and Car Shoe. Her famous designs include the Baguette Bag (introduced in 1985) and the Uranus Handbag (1989). Prada's creations are highly popular among Hollywood's elite.

As a successful businesswoman, Miuccia Prada boasts an estimated net worth of 5 billion dollars, making her one of the wealthiest fashion designers in the world as of 2022. Prada has received numerous awards for her work, including the CFDA International Designer Award in 2004 and the first-ever International Designer of the Year at the 2013 British Fashion Awards. As of 2017, she was listed by Forbes as the 79th most powerful woman in the world.

Net Worth: $5 billion

Ralph Lauren is an American fashion designer who gained fame through his brand Polo Ralph Lauren. He began his career producing men's neckties and later ventured into designing his own men's clothing line in 1968. Lauren named this men's clothing style the polo shirt and confirmed it was inspired by his love for sports. He has continuously evolved over the years, from delving into women's fashion design to introducing the short-sleeved cotton shirt with 24 colors, featuring the iconic polo player logo.

Ralph Lauren is a familiar name in the fashion world, standing out as one of the most prominent designers of this generation. Lauren is the only designer to have achieved fashion awards equivalent to an EGOT, winning Lifetime Achievement, Women's Fashion Designer of the Year, Men's Fashion Designer of the Year, and Retailer of the Year awards.

The Ralph Lauren brand has expanded into various investments beyond denim and footwear, including furniture, eyewear, and more. Lauren boasts an impressive car collection, with over 70 luxury vehicles. There's even a section of the Ralph Lauren website dedicated to his massive car collection, featuring priceless vehicles such as the 1958 Ferrari Testa Rossa, 1929 Bentley, and one of only two Bugatti Type 57SCs currently valued at $41 million. Ralph Lauren is considered one of the most successful and wealthy fashion designers globally in 2022. As of 2022, his net worth is $7.5 billion.

Net Worth: $7.5 billion

Valentino Garavani is an Italian fashion designer with over 50 years of experience in luxury clothing. He has dressed film stars and prominent women, including Michelle Obama and others. Valentino Garavani became famous for creating dazzling and extravagant dresses after his first handmade dress was showcased in 1962. Quickly becoming a darling of high society and nobility worldwide, Garavani is a star in the Italian fashion scene.

At the time Valentino Garavani received the prestigious Neiman Marcus Fashion Award in 1967, he had a client list that included Audrey Hepburn, Elizabeth Taylor, Jackie Kennedy (whom he designed a wedding dress for when she married Aristotle Onassis in 1968), and Begum Aga Khan. After nearly a decade in the fashion business, Valentino Garavani announced his retirement after a high-fashion show in January 2007.

Valentino Garavani is currently designing for his own brand and undertaking projects in Paris, London, Milan, Shanghai, and New York. His annual income has been estimated by Forbes at $300 million. He is considered one of the wealthiest fashion designers globally in 2022, amassing a net worth of $1.5 billion. Now at the age of 88, Garavani continues to live a luxurious life with Giammetti, sharing glimpses inside their numerous homes, yachts, and almost constant world travels with fans through social media.

Net Worth: $1.5 billion

The Italian designer duo founded the renowned brand Dolce & Gabbana in 1985. Over the years, Domenico Dolce & Stefano Gabbana have made a global impact with their creativity and innovation. They have created diverse designs, including luxurious and sophisticated fabrics, earning them a significant reputation. Despite gaining worldwide acclaim, they remain ambitious, expanding their business further.

Together, Domenico Dolce & Stefano Gabbana have received praise from critics for their romantic dresses, leopard prints, lace, a stark contrast to the minimalist fashion of the era. Rising to fame with their success, they diversified into knitwear, diffusion, children's clothing, lingerie, swimwear, perfumes, and accessories, attracting attention when pop icon Madonna chose them as costume designers for her world tour 'Girlie,' wearing their jewel-studded corset at the Cannes Film Festival,... Their muses include Victoria Beckham, Jennifer Lopez, Beyoncé, and Sophia Loren.

Domenico Dolce and Stefano Gabbana have been business partners for two decades, maintaining a mature professional relationship after publicly acknowledging the end of their personal relationship in 2005. Although co-owners of the brand, they live in separate apartments within the same building in Milan. Now, they produce fragrances, eyewear, and even venture into the hotel business. They are considered the 4th richest fashion designers globally in 2022. As of 2022, each owns assets valued at $1.7 billion.

Net Worth: $1.7 billion USD

Calvin Klein commenced his fashion house as a coat shop in New York in 1968. Eventually, he graduated from lifestyle and accessories to home goods and jewelry. In the 80s, he revolutionized men's underwear from undergarments to garments that men began to care about. In 2002, the Calvin Klein empire signed a 15-year contract with Philips Van Heusen Corp (PVH), with Klein still at the helm of innovation. Since then, the company has continuously expanded.

Alongside Ralph Lauren and Robert Denning, Calvin Klein is one of many great designers who grew up in the Jewish émigré community. With Gunzburg's help, Klein was highly regarded in the fashion industry of the New York elite. Calvin Klein rose to fame after his grand debut at New York Fashion Week, earning him the title of the new Yves Saint Laurent. Calvin Klein designed his iconic tight-fitting jeans in 1974, generating over $200,000 in revenue in the first week.

Calvin Klein not only conquered the jeans market but also elevated himself as one of the finest lingerie designers by adding his logo and style to briefs and boxers. Over the years, his business ventures expanded into accessories, eyewear, swimwear, and knitwear. Calvin Klein received the CFDA Award for both men's and women's clothing. Additionally, he thrice received the award from the Council of Fashion Designers of America in 1981, 83, and 93.

Net Worth: $700 million USD

When Tory Burch's company was first established in 2004, it was called TRB. Burch's style is known for the T-logo emblem. She employs a preppy-boho style with a touch of casual luxury. It's quite easy to wear and versatile, making it popular for working women transitioning from their workplace to social events. Her fashion label 'TRB by Tory Burch,' later renamed 'Tory Burch,' started operations in 2004. By 2013, the company had expanded to 83 stores worldwide.

Tory Burch's clothing is both easy to wear and highly beloved. She is noted for turning the T-shirt into a fashionable item. There was, in fact, a waiting list for Tory Burch clothing in 2007, inspired by 50s and 60s fashion. Tory Burch serves as the CEO of the company, offering not only clothing but also accessories such as handbags, eyewear, footwear, and jewelry. Her collections are sold in over 3000 grocery stores.

Tory Burch has received several awards, such as Accessory Designer of the Year from the Council of American Fashion Designers in 2008. In 2007, the Outstanding Accessories Council awarded her the Launch of the Year award for the Best New Accessory Brand. She received the Rising Star Award from Fashion Group International for Best New Retail Concept in 2005. She ranks 6th on the list of the world's richest fashion designers in 2022.

Net Worth: $1 billion USD

Michael Kors initiated his women's label at Bergdorf, which initially failed, leading him to temporarily halt his then KORS line. However, in 1997, he relaunched with a more affordable line. During this period, Michael Kors also worked at the House of Celine as the ready-to-wear women's clothing designer. Michael Kors garnered several awards at this time for his innovation and what his creativity brought to the company.

In 2004, Michael Kors expanded his market to include handbags, footwear, along with ready-to-wear clothing for women. Michael Kors never stopped growing as they hit a record 770 lifestyle stores worldwide. In 2013, Michael Kors was listed by The Time as one of the 100 most influential people in the world. Additionally, the Observer ranked him among the hundreds of most prominent fashion designers in New York. Michael is the youngest to receive the Geoffrey Beene Lifetime Achievement Award.

From creatively rich fashion campaigns to friendships with most of the famous supermodels, there are few American designers as iconic as Michael Kors. The designer is clearly celebrated for his globally renowned self-named brand, but Kors' warm personality and determined work ethics have made him a beloved figure in the fashion world.

Net Worth: $600 million USD

Vera Wang introduced her own collection after opening her exclusive bridal store. This came after her 15-year tenure as a high-end fashion editor at Vogue and a designer at Ralph Lauren. She is a renowned bridal designer in the United States and has done quite well for herself achieving numerous accomplishments. Her bridal stores have been opened in Sydney, Tokyo, London, and New York. Vera Wang's brand also produces eyewear, jewelry, fragrances, footwear, home decor, and household items.

Some notable achievements of Vera Wang include: The 1993 Chinese American Planning Council Honoree Award, the 1994 Women's Leadership Council Outstanding Woman Award, also in 1994, she was elected a member of the Council of Fashion Designers of America (CFDA). And a CFDA award for Women's Wear Designer of the Year in 2005.

Vera Wang has designed and crafted wedding dresses for various celebrities such as Karenna Gore, Campbell Brown, Avril Lavigne, Victoria Beckham, Hilary Duff, Holly Hunter, Sharon Stone, Kim Kardashian, Jennifer Lopez, Khloe Kardashian, Michelle Obama, Sarah Michelle Gellar, Chelsea Clinton, Ivanka Trump, and Alicia Keys. Moreover, her dresses have been worn by many stars on the red carpet, including Sofia Vergara at the Emmy Awards, Sandra Bullock at the 2011 Oscars, and Viola Davis at the Oscars.

Net Worth: $650 million USD

Tom Ford is a renowned global fashion designer. At various points, he served as the Creative Director of Gucci and Yves Saint Laurent. During his tenure with these brands, they rose to become one of the world's leading fashion brands, with Gucci's annual revenue reaching $3 billion. Subsequently, Tom Ford departed to establish his own clothing brand, where he also became the chairman. Tom Ford Brand specializes in beauty products, eyewear, and men's clothing.

Tom Ford made significant waves for his new company when he appeared on the cover of Vanity Fair magazine in 2006 in a Tom Ford Brand men's outfit, standing between Keira Knightley and Scarlett Johansson. In addition to fashion design, Tom Ford also ventured into film production in 2005. His directorial debut, A Single Man, based on the novel by Christopher Isherwood, earned accolades and awards at the 66th Venice International Film Festival.

As one of the most highly regarded designers of his generation, Tom Ford has received numerous fashion awards for his work with Gucci and his own Tom Ford Brand. He has won 5 awards from the Council of Fashion Designers of America, 4 VH1/Vogue Fashion Awards, and was honored as the Designer of the Year in 2001 by GQ magazine.

Net Worth: $500 million USD