Fashion Nova Owner Richard Saghian recently splurged on a $141 Million Home called “The One,” in Los Angeles.
The 105,00 square foot property has 21 bedrooms and 42 baths.
See more pictures here.
In the spirit of my knee jerk reaction to congratulate, not hate, I must say that this is impressive. Fashion Nova can be criticized for a myriad of reasons, however whatever they are doing is working. The owner is 40 years old and lives in a palace! And from the sounds of it, this is just one of his many properties.
While many of my followers on @ClaireSulmers complained about black designers not being able to achieve this level of success, I must counter: how much do you spend on black designers? Have you shopped on FashionBombDailyShop.com, our marketplace for emerging multicultural designers, where 90% of our designers are black women, hand creating each look? I’m sure most of the people who are complaining about Saghian’s wealth have shopped at his store over ours (and probably give him way more grace).
Many comments on @FashionBombDaily joked that they should have a room because they helped to build this house. And it’s true. It seems as if a lot of Fashion Nova’s success was created by catering to our demographic. I admire what they were able to produce, as it makes it clear that not only is fashion lucrative, but it’s also possible to create a style behemoth in the matter of a few years by focusing on smark mark ups and social media marketing.
It’s time for someone in our community to benefit from dollars generated in our community. But will we?
Will we support our own? Would we even be comfortable with the idea of making another black person this wealthy?
This and more to ponder!
Love & Light,
