Who Owns Fashion Nova?
Richard Saghian is the CEO of privately held Fashion Nova, a fast-fashion company and social media phenomenon that has achieved rapid growth through its work with influencers and speed in delivering trend-driven pieces.
Saghian was introduced to retail by his father, who owned women’s clothing stores where Saghian worked during his summers. He founded Fashion Nova in 2006 as a chain of stores selling low-price “clubwear” and apparel in Los Angeles-area malls. He launched the e-commerce site in 2013, and Instagram has been central to the online business from the start. With 60,000 followers on his personal account before launching Fashion Nova, Saghian parlayed his adjacent macro influence into a loyal following for his then-emerging brand. Saghian jumped on the social media marketing wave early and was one of the first to realize that social platforms would soon be integral to successful branding.
The company quickly became a cult hit, catering to all body types and ethnicities, many of whom feel ignored by mall retailers that offer limited plus-size lines. Its signature tight, high-waisted “bodycon” style has set the instagram-aesthetic look in stone, featuring affordable, on-trend clothing endorsed by influencers and celebrities alike. The brand counts over 15 million followers on its Instagram accounts, and many users routinely tag their selfies with the hashtag #NovaBabes. The value of Fashion Nova’s social media presence is more than that of H&M and Zara combined. Around 2,000 influencers-including Cardi B, Kylie Jenner, Khloe Kardashian, and Nicki Minaj-create around 6,000 pieces of content about the brand every month, making you one of the most talked about brands on the internet, despite being virtually unknown in some fashion circles. According to WWD, just a single post by Kylie Jenner, gives millions of dollars in sales for Fashion Nova.
Fashion Nova works with about 1,000 different manufacturers to release 600 to 900 new styles a week, a pace Saghian hopes to increase. Many items are made in Los Angeles, although the company also works with vendors in China. It is also widely distributed in Canada and the United Kingdom. In 2016, the company ban its considerable popularity with plus-size consumers and launched the Fashion Nova Curve line. The brand expanded your catering to niche demographics and launched menswear in June 2018.
Fashion nova has permeated every aspect of Instagram ‘ s style crowd, often alongside high-end brands worn by celebrities in your brand offerings. High engagement, routine response to tagged posts and comments have established the brand’s high trustworthiness among the digitally savvy generation. In 2018, Fashion Nova surpassed the internet presence of older brands such as Gucci, Louis Vuitton, and Chanel to rank first among fashion brands searched on the internet. In the same year, the company became profitable and grew by 600% .
In 2018, Fashion Nova came under major social media fire for its celebrity knock-off styles, copying Kylie Jenner, Kim Kardashian and designs from indie labels. The brand also struck a deal with rapper Tekashi 6ix9ine in which he would name-drop the label in a song, however the lyrics were pulled after a dispute between Nicki Minaj and Cardi B, a brand ambassador.