What is the net worth of Vince Camuto?
John Vincent Camuto, also known as Vince Camuto, an American women's footwear designer and shoe business executive with a massive net worth of $700 million, was best known for co-founding the women's fashion label Nine West.
Camuto became CEO and Chief Creative Officer of Camuto Group, the producer of the Jessica Simpson brand when Nine West was sold to Jones Apparel Group for $900 million in 1999.
Camuto Group was founded in 2001 by Vince Camuto and his wife Louise. In 2014, the brand was estimated to be worth $1 billion. He died of prostate cancer on January 21, 2015, at the age of 78.
Authentic Brands Group purchased Vince Camuto on October 10, 2018, as part of a definitive deal with DSW Inc. to purchase majority ownership in the intellectual property of the Camuto Group's exclusive brands.
Quick Facts About Vince Camuto
|Vince Camuto Net Worth||$700 Million|
|Real Name||John Vincent Camuto|
|Date of Birth||Jun 4, 1936|
|Date of Death||Jan 21, 2015 (aged 78)|
Vince Camuto Earnings, Career and More
He has a net worth of $700 million, according to Celebrity Net Worth, with the majority of his profits coming from his career as a fashion designer. Along with his business partner, shoe industry specialist Jack Fisher, he founded the Nine West Group. In 2001, he and his wife founded Camuto Group, which was valued at $1 billion in 2014.
Vine Camuto's residence in Greenwich. (Source: Footwear News)
Vince's primary residence was a 23-acre estate in Greenwich at the time of his death. A 16,000-square-foot European-castle-style home is part of the property. The property tax cost for the house is at least $130,000 every year. The house was put up for auction in 2020, with a starting offer of $25 million. Vince and his wife purchased a Hamptons mansion for $35 million in 2005. They purchased the property from the Order of St. Dominic sisters, who had owned it since 1931. Vince's wife sold the estate for well over $50 million in 2018.
Camuto began his career in the shoe industry in the early 1960s, working for the Sudbury Shoe Company for the first time. He had a key role in turning around one of the company's struggling facilities in Farmington, Maine.
Camuto and Fisher split up in 1977 to form Fisher Camuto, the precursor of the Nine West Group. The company combines fashionable designs with affordable rates, with the majority of its production taking place in Brazilian facilities. After working as the creative director of Nine West, Fisher was named CEO in 1993, when the firm went public. Nine West was purchased by Jones Apparel Group for $900 million in 1999.
Vince Camuto, his own footwear line, debuted in 2005. In 2006, he joined with Tory Burch to establish her footwear collection, and they collaborated to create the Reva ballet flat. The company expanded its portfolio in 2009 by adding Lucky Brand Jeans and kensiegirl footwear, as well as a handbag brand.
Camuto bought Jessica Simpson's master license in 2005. He opened the first Jessica Simpson Collection shop-in-shop in Macy's Herald Square in New York two years later. In other cities, new stores have opened.
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Vince Camuto Personal Life, Family, and Education
Vince Camuto with his wife, Louise Camuto. (Source: WSJ)
He was married to Louise Camuto who is a Swedish model and businesswoman. She was Miss Sweden in 1989 and came in second place in the Miss Universe pageant in 1989. Camuto Group, which provides design, sourcing, marketing, and production services to retailers, was founded by him and his wife in August 2001. John Camuto, Robert V. Camuto, and Andrea Camuto are the couple's three children.
Luigi Camuto, Vince's father, was an artisan from Sicily who died when Vince was two years old. Louise Zenga Camuto, his mother, supported the family by working as a seamstress.
Camuto graduated from New York City's Seward Park High School and began working at an I. Miller Department Store when he was 18 years old, first in shoe repair and then in sales.
Interesting Facts About Vince Camuto
- He was a member of the Wish-And-A-Smile board of directors, which supports a variety of children's charities.
- Camuto was inducted into the Footwear News Hall of Fame in 2001.