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Meet Richard Saghian, Fashion Nova's billionaire CEO who owns the biggest modern home in the US —a $126 million LA megamansion. Áine Cain,Sarah Jackson. September 3, 2024 at 8:33 AM.
Fashion Nova was founded in 2006 by its CEO Richard Saghian, [5] who started his career in the retail industry by working at his father's clothing boutique located in Los Angeles. [3] Fashion Nova opened its first location in Panorama City, Los Angeles inside the Panorama Mall, selling inexpensive club-wear attire. In 2013, Saghian launched the ...
It did not receive an offer and went to a bankruptcy auction in March 2022, where it sold to Richard Saghian, the CEO of Fashion Nova, for $126 million [20] plus a 12 percent commission to the Concierge Auctions that raised his total investment to $141 million.
Richard Saghian, owner of fast-fashion juggernaut Fashion Nova, was the winning bidder who spent $141 million to buy "The One" mega-mansion, he confirmed to The Times.
Richard Saghian, chief executive and founder of the online retailer Fashion Nova, confirmed to The Times that he submitted the winning bid for The One — the biggest residence in Los Angeles.
It did not receive an offer and on March 4, 2022, the property was sold at a bankruptcy auction to Richard Saghian, the owner of Fashion Nova, for US$126 million.
The $141-million offer by Fashion Nova founder Richard Saghian for the Bel-Air mega-mansion known as "The One" was approved Monday by a U.S. Bankruptcy Court judge.
TechStyle Fashion Group, formerly JustFab Inc., is an online, membership fashion retailer that has a portfolio of five direct-to-consumer brands including JustFab, FabKids, ShoeDazzle, Savage X Fenty, and Fabletics. [3] [4] [5] Its brands carries selections of shoes, handbags, jewelry, lingerie, activewear, and denim.