Early Life
Richard Saghian was born in Los Angeles, California, to Iranian parents who immigrated to the United States. He was introduced to the fashion industry through his father, who owned a women's clothing store, and worked there during his summers.
Rise to Success
Saghian launched Fashion Nova in 2006 after dropping out of college, starting with five brick-and-mortar stores in the Los Angeles area. He quickly identified a gap in the market for affordable, trendy apparel. Recognizing the potential of social media, particularly Instagram, Saghian launched the brand's e-commerce website in 2013 and employed influencers and celebrities to showcase the company's styles, leading to rapid growth. Fashion Nova offered hundreds of new clothing styles weekly, quickly gaining popularity and becoming a leading fast-fashion brand.
Key Business Strategies
The core of Fashion Nova's success lies in its ability to deliver on-trend fashion at affordable prices. The company implemented rapid production cycles and a social media-first marketing strategy, partnering with influencers and celebrities to promote its products. Fashion Nova was the most Googled fashion brand in 2018. The company expanded its offerings with the Fashion Nova Curve and Fashion Nova Men's lines. In 2024, Fashion Nova relocated its global headquarters to Beverly Hills, California, for $118 million.
Philanthropy
Saghian has supported various social causes through his charitable organization, Fashion Nova Cares, launched in 2020. In 2021, he partnered with Megan Thee Stallion on a philanthropic venture, “Women on Top”, donating $1 million to support education, women-owned businesses, female-focused charities, and organizations.
