The wealthiest families in the beauty and fashion world
Chanel ranks 5th in the list of the richest families
According to the list of the world’s richest families produced by Bloomberg, the Walton’s now is top in this list with the net worth of $190.5 billion. The two representatives from beauty and fashion are Chanel and Hermès. Respectively, Chanel is worth $57.6 billion and Hermès is worth $53.1 billion. These figures make the two giant beauty and fashion brands achieve higher places in the global rankings. In 2018, Chanel generated revenues of about $11 billion. This luxury brand was founded in 1909 in Paris by Coco Chanel and now in under the lead of Alain and Gerard Wertheimer. They are grandsons of Pierre Wertheimer who was an important business partner of Coco Chanel. Alain and Gerard Wertheimer are now benefited from his grandfather’s extremely wise investment in the giant fashion house. The two owners also own racehorses and vineyards. Hermès ranks 6th in the list of the richest families in the world, according to Bloomberg. Established in 1837 by Thierry Hermès, the brand has been thriving until now. It focuses on leather products, lifestyle accessories, home furnishings, perfumery, jewellery, watches and ready-to-wear. Now it is under the brilliant leadership of artistic director Pierre-Alexis Dumas and chairman Axel Dumas. The brand’s sales exceeded its expectations due to the increasing demand in Asia, making it one of the richest families in the world. As reported by the brand, between April and June, the growth rate had improved by 14.7%. A notable name in the beauty and fashion industry is Bernat Arnault (LVMH). Its revenues are worth almost as much as Chanel and Hermès combined. As the demand for beauty and fashion products are growing quickly, more money is generated every year. And this Chanel and Hermès two of the richest families in the world.The wealthiest families in the beauty and fashion world
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