- Category:
- Richest Business › Richest Billionaires
- Net Worth:
- $1.1 Billion
- Birthdate:
- Jun 4, 1952 (71 years old)
- Birthplace:
- Finchley
- Gender:
- Male
- Profession:
- Businessperson, Entrepreneur
What is Richard Caring's Net Worth?
Richard Caring is an English businessman who has a net worth of $1.05 billion. Having made his fortune in the fashion industry, Richard Caring has continued to grow his wealth further in two other areas, i.e. property and restaurants. Born in North London to a family that run dress manufacturer Louis Caring Originals, Caring left school to help his parents at the age of 16. Thus, he got acquainted with the basics of the family-held company before learning both the benefits and the calamites of the production process. It was in 1971 that he first went to Hong Kong where he saw a new biz opportunity.
With labor and materials being far cheaper than in Britain, he started to sell the newly discovered high quality but cheaper garments from Hong Kong to UK retailers through his International Clothing Designs (ICD). By 1979, he moved his entire family permanently to Hong Kong as the business bloomed. At its highest performance, ICD provided 70% of the clothing sold by British high street retailers, mainly supplying Marks & Spencer, Mothercare and Next. Later on, he has largely diversified his business interest into property, as well as restaurants and nightclubs. Aside from business, Richard Caring is actively involved in charity causes. Actually, it was his near-death experience in the 2004 Indian Ocean earthquake that made Caring's charitable contributions grow.
