Richard Saghian is caught up in an ongoing murder investigation. Will this investigation affect Richard Saghian Net Worth. Richard is the founder of Fashion Nova, a cloth brand. It is one of the companies that gained its fame through Instagram and other social media platforms. Richard has worked a lot to build his company from scratch. It is the first company to use mixed shaped, tone, and sizes models. They do not support the spirit of body shaming and do not believe in putting their body types inboxes. They have helped the world to see a different horizon of body positivity.
Fashion Nova was established in 2006 by its CEO Richard Saghian. He started operating in the retail industry by working at his father’s clothes boutique in Los Angeles. Richard has inherited his dress creation skills from his father. Like father like son. Fashion Nova inaugurated its first location in Panorama City Los Angeles, selling reasonable “club-wear” attire inside the Panorama Mall. In 2016, Fashion Nova originated the Curve Collection. In 2018, the company developed menswear with the release of its Fashion Nova Men’s line.
In 2019, the United States Department of Labor determined that some of the company’s clothes are holding “stitched together by a workforce in the United States that is funded illegally low wages.”
Fashion Nova Is Not Just A Firm It’s A Safe Place For Everyone
Some of the US-based companies that Fashion Nova hired through delegates paid their workers as little as $2.77 an hour, according to the examination, and owed $3.8 million in back wages to numbers of workers. However, it turned out to be a competitor trying to shame Richard for his good work in ugly ways. The company assured everyone that there are no illegal activities other than stealing their heats with their exclusive work.
In 2020, Fashion Nova promised to donate $1 million to several social justice regulations, including Know Your Right, Black Lives Matter, and the NAACP Legal Defense and Education Fund. In August 2020, Fashion Nova declared reforms to its contracting practices in support of California’s recommended bill, SB 1399, which includes a command that its contractors and subcontractors agree to random autonomous audits and that their craftsmen are paid the applicable least wage. Which in Los Angeles is programmed to rise to $15 an hour for owners of all sizes in 2021. Fashion Nova also placed a toll-free hotline for workers to report injustices, as well as a system of penalties for those who disrupt its reform efforts.
Fashion Nova And Richard Saghian’s Work For The Mankind
However, Richard Saghian is a businessman, and usually, businesses do not care about the community but according to him, they don’t do that at Fashion Nova. In November 2018, Fashion Nova published its line with rapper Cardi B. The collection began at a “Party with Cardi” event, with Cardi B, Brianna Perry, and Saweetie. It was a very prosperous launch, trading out in seconds. Since this collaboration, Fashion Nova was sponsored by many famous personalities and influencers such as Blac Chyna, Teyana Taylor, and Christina Millian. The store has an annual Halloween masquerade line, making their items appear alongside their most popular diplomats at Halloween events.
Fashion Nova began a second season of the Cardi B collection in May 2019, with Cardi B, Blueface, YG, and Lil Nas X and performances. In April 2020, Fashion Nova designed Fashion Nova Cares. An enterprise-focused on supporting social movements. That very same month, Fashion Nova Cares partnered with Cardi B to distribute $1,000 an hour for over 40 days to those touched by COVID-19, donating a total of $1 million.
Richard Saghian Net Worth
Richard Saghian is worth 50 Million Dollars. However, his worth might decrease in the coming months. Due to his involvement in an active murder investigation. A person was killed in front of his 4 million dollars worth house. On the other hand, Instagram pays him around 5,000 thousand dollars per post. He does not frequently post on his official Instagram account that tells us he prioritizes privacy over a paycheck.
He is the owner of a company named Fashion Nova that is worth 80 million dollars. Richard is not just a rich designer, but he is also a very humble and kind-hearted person. And if he keeps on making a process like this, he will make it to the billionaire list very soon. But his philanthropist nature might hinder his billionaire plans.