Richard Saghian may not be a name that people are shouting from the rooftops, but his name is good where it matters. Today, he helms one of the most successful fast fashion brands in Fashion Nova. It wasn’t always that way, however, and Saghian had to fight for his current spot atop the hill.
Humble Beginnings Lead to Brilliant Business
Saghian was the child of Iranian immigrants and grew up in Los Angeles. Surrounded by the glitz and glamor of the city, he founded the online phenomenon known as Fashion Nova in 2006. Yet it wasn’t smooth sailing from the early days. In fact, for a long time, his brand was unknown.
When he came up with the idea of Fashion Nova, he wanted to take fast fashion and speed it up. His “faster fashion” would constantly create new ideas and designs and sell them, with only enough stock for the people who could catch it to hop on the wagon.
Bypassing Retail Completely
LA in the mid-2000s was a fashionable city, but the internet hadn’t consumed everything as yet. Brands that ruled the roost were H&M and A&F, offering chic fashions in the typical “lines” that would run through the seasons.
With Saghian’s brainchild, having outlets would detract from what he wanted to do, which was cycle fashion rapidly. He decided the internet was the best way to do this and opened his online outlet, completely bypassing the traditional outlet settings.
Influencer Marketing At Its Finest
Saghian’s experience in LA taught him that the people who “mattered” were the people he wanted wearing his fashion. Because of this, he started to cultivate relationships with up-and-coming rappers and stars. People who were just on the edge of stardom would wear some of his designs.
Photographers in tabloids would spread these designs about. He would direct people to his online store through clever marketing and name-dropping. Before too long, the brand was picking up traction. People from all over the country were shopping at Fashion Nova.
There’s Always Something New Coming
This success was good for the brand but wasn’t the kind of fashion cycling he had imagined. He would have to get more people wearing his brand and showing off his store to really make it into what he wanted it to be. Luckily, he was just in time for Instagram to pop off.
The photo-sharing site turned into a social media site overnight, and he leveraged the popularity he already had with celebrities to expand his coverage. Instagram influencers didn’t like wearing something that someone else might be wearing, so Saghian’s Fashion Nova catered to them by offering them something unique every day of the week.
Reaching the Pinnacle Of Success
The brand started growing immensely, and in 2018, it became the most Googled fashion brand, even more popular than established names like Louis Vuitton and Gucci. Fashion Nova forms part of the ultra-fast fashion movement, with websites such as Shein and Revolve making up its competitors.
The brand has seen massive growth and exposure thanks to Instagram and his support of celebrities like Cardi B and Nicki Minaj. He knows what his customers want. According to research, Fashion Nova routinely produces 600 new designs every week.
An Avid Collector of Properties
Saghian also likes buying properties scattered around the world. In the Los Angeles area, his hometown, he owns several properties, including the former home of DJ Avicii. He also bought a Malibu beach house from Netflix boss Ted Sarandos in 2021. However, these purchases pale in comparison to his most opulent house.
In early 2022, the fashion mogul bought the most expensive mansion in Los Angeles, known as “The One.” According to the auction figures, he spent $141 million on the mega-mansion. This opulence is partially what makes him stand out as a business owner, but it may be the only thing he’s noticed for.
Not Much About Being in the Spotlight
Delving into Saghian’s presence online leads someone to think that he doesn’t like to be photographed. While he appears in a few promotional photographs with celebrities or on social media pictures from a few close friends that make up his celebrity marketing crew, he’s very reclusive.
Before his purchase of the mansion, many people had no idea who he was and how he could afford such a huge mansion in LA. Thanks to his low-key approach to life, he is usually overlooked despite being one of the geniuses of social media marketing of our day.
Know How To Make People Look
One of the lessons entrepreneurs can learn from Saghian is how to make people look. Marketing is about getting eyes on a product, and Saghian realized that to make people want his product, he would need more people to see it. It’s an old strategy but one that works well in the age of social media.
While most regular entrepreneurs won’t be able to afford celebrity names like Cardi B or Kylie Jenner, the principle of getting the product in front of as many people as possible still holds. It’s the principle of social media marketing that should form the basis of a well-informed marketing strategy.
Reaching Out To Retailers
While Fashion Nova doesn’t have any brick-and-mortar stores, it has a good relationship with a wide range of smaller stores that offer their faster fashion to walk-in buyers. This allows everyone, even those who aren’t into online shopping, to experience the brand firsthand.
Meeting the customer halfway helps ease them into the product. With so many people enjoying it and showing it off, it’s subconsciously a decision the buyer has already made. All Saghian’s company has to get the product in front of them, which he can do by leveraging these small stores.
A Smart Enigma
Saghian has made the news for a few questionable things recently but remains strictly under the radar. Most people aren’t even sure what he’s doing with himself these days. Even his Instagram only posts a few shots of himself here and there. He remains one of the brightest minds in influencer marketing the world has seen. And he also prefers not to be seen.
