Modernist 175,000-square-foot, state-of-the-art building purchased by Fashion Nova Founder & CEO Richard Saghian for $118 million
The new Fashion Nova HQ to debut two groundbreaking concepts: Nova Social Club, a collaborative space for influencers, creators & VIPs, with fitness studio, wellness spa, content & podcast studios, showroom and more; and Nova Founders Lab, an incubator-accelerator for emerging brands, creatives, and founders across fashion, marketing, and technology
LOS ANGELES, CA / ACCESSWIRE / August 28, 2024 / Fashion Nova, the world's leading trend-to-market fashion and lifestyle brand, announced the acquisition of a premier state-of-the-art office campus in Beverly Hills, CA, which will serve as new global headquarters for the innovative, tech-enabled fashion retailer. The 175,000-square-foot building was purchased off-market by Founder & CEO Richard Saghian for $118 million in an all-cash transaction.
Photo credit: Fashion Nova
Located at 407 North Maple Drive in the heart of prestigious zip code 90210, the campus is a modern masterpiece of stark, contemporary architecture contrasted by lush, Zen-like gardens. Its bold, imposing façade of aluminum, glass, and granite resembles a giant sci-fi movie spaceship -- a gleaming mothership for fashion's most disruptive brand.
The newly acquired Fashion Nova HQ is a creative sanctuary, seamlessly integrating quaint outdoor and sleek indoor spaces, and featuring a dramatic atrium sky bridge, solarium, and sprawling outdoor terraces. Overlooking the pristine, tree-lined streets of Beverly Hills, the campus comprises four floors, plus three stories of subterranean parking.
Fashion Nova's global headquarters is positioned to power the brand's continued hyper-growth, speed-to-market, and creative & technology disruption. In addition to providing newly designed ergonomic office spaces for 500+ corporate employees, Fashion Nova HQ will debut Nova Social Club -- a private, by-invitation-only collaborative space for creators, influencers, celebrities, and VIP guests, where the brand's inner circle can enjoy curated amenities and bespoke partnerships.
Plans for the dedicated inner sanctum include a fitness studio, wellness spa, content & podcast studios, screening room, meditation & yoga garden, cosmetic micro-treatment bar, organic culinary outpost, showroom and more.
"Nova Social Club will be a modern sanctuary for talent, influencers, creatives, and tastemakers," said Saghian. "Fashion Nova was the pioneer of social media marketing, creating a digital platform for influencers and creators when the industry was in its infancy. And now, we're pioneering a physical space for this community to connect, collaborate, and interact with our brand. There is nothing like this currently existing in the fashion industry, period."
Saghian incubated the disruptive social commerce model of selling affordable, on-trend, size-inclusive clothing online -- powered by an innovative, social media-first marketing strategy. Fashion Nova has amassed over 40 million social media followers and annual sales of approximately $2 billion. A favorite of A-Listers, the brand has stayed true to its original brand ethos: that all ethnicities, body shapes, and socioeconomic backgrounds deserve to be represented and celebrated.
The campus will house the Nova Social Club, as well as the newly ideated Nova Founders Lab, an incubator-accelerator for emerging brands, designers, creatives, and founders across fashion, marketing, and technology to become market-ready in a true fashion-vertical setting.
Chosen founders will not only have access to amenitized office space for their emerging companies, but also have the opportunity to plug into Fashion Nova's state-of-the-art infrastructure across marketing, technology, production, sourcing, operations, and fulfillment in its 1-million-square-foot logistics network.
"The office will always be a part of society - we are just developing the next iteration of it," said Saghian. "People want to collaborate and innovate with their peers and feel at home, not just show up for work. They want to be a part of a movement and culture. Our new headquarters provides the perfect backdrop for our teams to ideate and innovate, and enables emerging designers, brands, and disruptive founders to hyper-scale their growth, turbo-charged by Fashion Nova's cutting-edge platform."
Energy Star-Labeled and Gold LEED-Certified, Fashion Nova's sustainable new headquarters will be ready for its reveal in late 2024, marking the next phase of global expansion for the brand, which includes plans for new offices in London, Hong Kong, Sydney, and New York.
The 407 North Maple Drive campus marks Saghian's third significant real estate purchase in the Greater Los Angeles area within the last two years. In early 2023, Saghian acquired the Fashion Nova Malibu Beach House, a 6,125-square-foot property on exclusive Carbon Beach. In March 2022, Saghian purchased The One in Bel Air, a 105,000-square-foot mansion listed as the largest home in the United States, which is currently under renovation before its debut in 2025.
"I strongly believe in the resilience of the Los Angeles real estate market and I'm incredibly excited to add this property to my real estate portfolio," said Saghian. "This building is an irreplaceable asset, and it is a once-in-a-generation opportunity to acquire such a strategically located parcel of land in the heart of Beverly Hills. More importantly, I am excited about the future of Fashion Nova and the opportunities ahead for our brand and our customer - there is so much ahead, and it still feels like day one."
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About Fashion Nova
Fashion Nova Founder & CEO Richard Saghian launched the brand in 2006, from a retail location in Los Angeles. After multiple store openings, Saghian launched the e-commerce website for Fashion Nova in 2013, pioneering a disruptive social commerce model of affordable, on-trend, size-inclusive clothing online - powered by an innovative, social media-first marketing strategy. Today, Fashion Nova has amassed over 40 million social media followers, with annual sales of approximately $2 billion.
Fashion Nova is the world's leading quick-to-market apparel and lifestyle brand with categories including Women, Men, Kids and Beauty. Renowned for delivering the season's most-wanted styles to millions worldwide, Fashion Nova earned the title of the Top 5 Most-Searched Fashion Brand on Google in 2022, alongside Louis Vuitton and Nike.
The brand's name has been featured in chart-topping hit songs by Cardi B, Drake, 21 Savage, Saweetie, The Game, Tyga and Offset and its styles have been worn by many celebrities, artists and athletes including Meg The Stallion, Ice Spice, Chris Brown, Floyd Mayweather, Rick Ross, Kourtney Kardashian, and Kylie Jenner.
To view the latest Fashion Nova collections, please visit fashionnova.com. Follow the action on Fashion Nova's social media feeds, including Instagram @fashionnova and TikTok @fashionnova.
Contact Information
Marisa Ritts
marisa@taraink.com
Nick D'Annunzio
nick@taraink.com
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SOURCE: Fashion Nova
View the original press release on newswire.com.
