Fashion Nova CEO Richard Saghian Buys LA Biggest Mansion For $141 Million

Fashion Nova CEO Dropped $141 Million On Los Angeles Biggest Mansion “The One”

The owner of Fashion Nova Richard Saghian recently closed on the biggest mansion in Los Angeles for a whopping $141 million!

The One, which consists of 21 bedrooms, 42 bathrooms is truly breathtaking. It’s called “The One” because only one percent can afford it.

Fashion Nova is an American fast fashion retail company. The company operates online and has five brick-and-mortar locations. The company is known to utilize social media marketing, particularly on Instagram. Models, celebrities, and other customers receive payments or free clothing in exchange for generating publicity about the company.

 

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Fashion Nova was founded in 2006 by its CEO Richard Saghian. He started his career in the retail industry by working at his father’s clothing boutique located in Los Angeles. Fashion Nova opened its first location in Panorama City, Los Angeles, inside the Panorama Mall, selling inexpensive “club-wear” attire. In 2013, he launched the e-commerce website for Fashion Nova.

In 2016, Fashion Nova launched the Curve Collection. In 2018, the company expanded to menswear with the release of their Fashion Nova Men’s line.

In December 2019, the United States Department of Labor launched an investigation and found that some Fashion Nova suppliers or subcontractors hired workers who were paid as little as $2.77 an hour and that the suppliers owed $3.8 million in back wages to hundreds of workers.

In 2020, Fashion Nova pledged to donate $1 million to a number of social justice organizations, including Black Lives Matter, Know Your Rights Camp, and the NAACP Legal Defense and Education Fund.