The year 2021 is the beginning of the recovery period for the fashion industry after it slumped at the beginning of the pandemic. Several well-known labels reported an increase in sales from the first quarter to the third quarter of this year. As a result, the wealth of the conglomerates that own the label has increased. Both from those who work in the middle segment such as high street to luxury goods specialists. Even in the list of billionaires alerted by Forbes this year, a number of these fashion entrepreneurs managed to enter the top 20 list. There are even those who are ranked in the top 3.
Here are some of the richest and most successful fashion entrepreneurs in 2021.
This French man is the Chairman of Louis Vuitton Moët-Hennessy (LVMH). A group of companies that houses at least 70 luxury labels from various segments. Like fashion, including Louis Vuitton, Dior, Givenchy, and Fendi. Then wine, watches to retail, namely Sephora. In the Forbes billionaires list as of December 7, 2021, Arnault is in third place despite having risen to the top position. Now Arnault’s wealth is reported to reach 150 billion USD.
The founder of Inditex and owner of a number of high street labels including Zara, Massimo Dutti, and Pull & Bear, Amancio Ortega is another most successful fashion entrepreneur in 2021. In the Forbes list he is at number 11 with a total wealth of 77 billion USD.
Francoise Bettencourt Meyers
Francoise is the grandson of L’Oreal founder Eugène Schueller. Being the richest woman in the world, Francoise, as reported by Forbes, Francoise has been active in her family’s company since 1997 and now serves as Chairwoman. Francoise and his family own 33% of the shares in this beauty and fashion company. At number 12 on the Forbes list, his wealth this year was recorded at 73.6 billion USD.