If you take a peak at google searches since 2017, Fashion Nova is one of the top searched fashion brands. Beating out Supreme, Louis Vuitton, and Gucci. So what is Fashion Nova, who owns it, and why is everyone searching for it? Keep reading to find out.
What is Fashion Nova
To begin, Fashion Nova is an online retailer with a headquarters in the heart of Downtown Los Angeles. It features trendy fashion pieces for women and soon for men. They are known for their denim that stretches and fits curvy figures perfectly. The main focus of the company is providing the best quality pieces at the most affordable price as fast as they can to the consumer.
Who Owns Fashion Nova
Richard Saghian is the founder and rather private CEO of the company. He rarely does interviews or has a photo of himself associate with the mega brand. There isn’t even a public photo of him on his LinkedIn Profile. What we do know is the founder is Iranian-American, who is a genius when it comes to understanding what his customers need and what the market is missing.
Their Game Plan
So how did Fashion Nova beat out Zara for fast fashion? Simple, they work with over 1000 different manufactures and can receive a sample within 24 hours of conceptualizing an idea. They move quick. They then shoot the products in house on one of the many models they have on call. Within 2 weeks, the item is ready to be placed online for sale. Fashion Nova releases 600 new products each week, and often are sold out immediately. They know their consumer is posting looks daily and need new options immediately.
Interestingly enough, the company rarely focuses on profit margin, but delivering to the consumers a plethora of options and getting as many individuals onto their platform.
Key To Success
As mentioned earlier, Fashion Nova has a very distinct business model that works for them. They also capitalized on the power of Instagram, having top celebrities tagging them in their posts wearing their clothes. It is reported one post from a Jenner could lead to $50,000 in sales. And if that wasn’t enough, the online company works with around 3000 digital influencers.
But that’s not the only reason for Saghian’s success. It’s very apparent that he has an eye for what will be big, who is being left out of the market, and how to reach these individuals. Fashion Nova speaks directly to an urban community, who in reality defines fashion but often left out of the fashion industry circle. He also partnered with Cardi B way before she was a signed artist. And interestingly enough, Fashion Nova had an Instagram presence of 60K before it launched its online store. They ended up selling out that weekend. In essence, Saghian knows what will work and what will sell.
What’s Next — My Advice
The next big step is getting a proper financial team behind Fashion Nova. It’s important to clarify the revenue produced is creating a profit that can sustain the company’s growth for years to come. A big issue that Nasty Gal had that led to their bankruptcy.
We will see what the future holds for the new mega online brand as they release menswear in a week.