Latest news with #RichardSaghian
Daily Mail
24-05-2025
- Business
- Daily Mail
EXCLUSIVE The $140m mansion its billionaire owner can't even live in after botched development left it needing a $20m fix
When you're a self-made billionaire and you've bought yourself a newly-built $141 million mega-mansion you'd hope to be able to live in it - especially when your next door neighbor is Jennifer Aniston. That's the awkward dilemma facing handsome fashion entrepreneur and college drop-out Richard Saghian, founder and CEO of apparel company Fashion Nova, who purchased the stunning estate which was originally to be listed for $500 million and billed as the most expensive home in the U.S.
Yahoo
06-02-2025
- Business
- Yahoo
Fashion Nova customers will get $2.4 million in refunds after 'deceptive review practices'
The Federal Trade Commission announced that it will be sending refunds to some Fashion Nova customers after it said the fast fashion retailer engaged in 'deceptive review practices.' According to a press release from Jan. 28, the FTC says it would be sending a total of almost $2.4 million to affected customers as part of a settlement. The FTC alleged that Fashion Nova had 'blocked negative reviews of its products from being posted on its website.' 'Fashion Nova misrepresented that the product reviews on its website reflected the views of all customers who submitted reviews, when in fact it suppressed reviews with ratings lower than four stars out of five,' the press release said. According to the FTC, this is the first case involving efforts to conceal negative customer reviews. Here's what you need to know. The FTC says it is sending both checks and PayPal payments to more than 148,000 customers who have filed a valid claim. According to the press release, people who receive checks should cash them within 90 days or redeem their PayPal payments within 30 days. Officials also say that Fashion Nova has agreed to a settlement order that would prohibit it from suppressing customer reviews. According to the FTC, people eligible for the refund were customers who purchased items from the company before Nov. 21, 2019, and filed a 'valid claim' to the FTC before Aug. 15, 2023. In the original complaint from January 2022 obtained by USA TODAY, the FTC alleged that Fashion Nova manipulated reviews. 'From as early as late 2015 through mid-November 2019, Fashion Nova chose to have four- and five-star reviews automatically post to the website, but did not approve or publish hundreds of thousands lower-starred, more negative reviews,' the complaint said. The FTC said in the same complaint that it had identified numerous instances where the company suppressed negative reviews that led to a false or misleading representation of its products. According to the Fashion Nova website, the company has an online storefront, as well as five retail stores throughout Southern California. The company was founded in 2006 by current CEO Richard Saghian. In 2013, Fashion Nova launched an online store which the company says has become the 'primary source for shoppers worldwide.' Fashion Nova did not immediately return USA TODAY's request for comment on Wednesday. Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_. This article originally appeared on USA TODAY: Fashion Nova customers will get $2.4 million in refunds, FTC says Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
Fashion Nova customers will get $2.4 million in refunds after 'deceptive review practices'
The Federal Trade Commission announced that it will be sending refunds to some Fashion Nova customers after it said the fast fashion retailer engaged in 'deceptive review practices.' According to a press release from Jan. 28, the FTC says it would be sending a total of almost $2.4 million to affected customers as part of a settlement. The FTC alleged that Fashion Nova had 'blocked negative reviews of its products from being posted on its website.' 'Fashion Nova misrepresented that the product reviews on its website reflected the views of all customers who submitted reviews, when in fact it suppressed reviews with ratings lower than four stars out of five,' the press release said. According to the FTC, this is the first case involving efforts to conceal negative customer reviews. Here's what you need to know. The FTC says it is sending both checks and PayPal payments to more than 148,000 customers who have filed a valid claim. According to the press release, people who receive checks should cash them within 90 days or redeem their PayPal payments within 30 days. Officials also say that Fashion Nova has agreed to a settlement order that would prohibit it from suppressing customer reviews. According to the FTC, people eligible for the refund were customers who purchased items from the company before Nov. 21, 2019, and filed a 'valid claim' to the FTC before Aug. 15, 2023. In the original complaint from January 2022 obtained by USA TODAY, the FTC alleged that Fashion Nova manipulated reviews. 'From as early as late 2015 through mid-November 2019, Fashion Nova chose to have four- and five-star reviews automatically post to the website, but did not approve or publish hundreds of thousands lower-starred, more negative reviews,' the complaint said. The FTC said in the same complaint that it had identified numerous instances where the company suppressed negative reviews that led to a false or misleading representation of its products. According to the Fashion Nova website, the company has an online storefront, as well as five retail stores throughout Southern California. The company was founded in 2006 by current CEO Richard Saghian. In 2013, Fashion Nova launched an online store which the company says has become the 'primary source for shoppers worldwide.' Fashion Nova did not immediately return USA TODAY's request for comment on Wednesday. Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_. This article originally appeared on USA TODAY: Fashion Nova customers will get $2.4 million in refunds, FTC says Sign in to access your portfolio
Yahoo
31-01-2025
- Business
- Yahoo
Fashion Nova customers to get $2.4 million in refunds, FTC says
The Brief Some Fashion Nova customers are set to receive payment over allegations that the retailer hid negative reviews on its website, according to the FTC. The FTC accused Fashion Nova of suppressing reviews "with ratings lower than four stars out of five." The company is now required to pay money "to compensate affected consumers," the FTC said. Some customers who bought products from the fast fashion retailer Fashion Nova could be getting a refund over its "deceptive review practices," according to the Federal Trade Commission. The FTC said it is sending a total of nearly $2.4 million to affected consumers as part of a settlement. Here's what to know: What we know The FTC accused Fashion Nova of allegedly blocking negative reviews of its products from being posted on its website. Specifically, the retailer "suppressed reviews" with ratings lower than four stars out of five," the FTC said in a statement. The agency said this was its first case involving efforts to conceal negative customer reviews. Dig deeper Fashion Nova was first launched in 2006 by Richard Saghian as a small chain of stores in Southern California that targeted trendy women's fashion "on a budget," according to its website. It launched online in 2013 and has grown in sales exponentially since – utilizing social media marketing and influencers to expand its fast fashion brand over the past decade. What they're saying In its Jan. 28 announcement, the FTC said Fashion Nova agreed to a settlement order that prohibits the company from suppressing customer reviews of its products currently being sold, "with the exception of reviews that contain obscene, sexually explicit, racist, or unlawful content and reviews that are unrelated to the product or customer services like shipping or returns." It added that Fashion Nova "was also required to pay money to compensate affected consumers." Fashion Nova did not immediately respond to a request for comment. What's next The FTC is sending checks and PayPal payments to 148,351 Fashion Nova customers who filed a valid claim. Consumers selected their payment method when they completed their claim form. Recipients should cash their checks within 90 days, as indicated on the check, or redeem their PayPal payments within 30 days, the FTC said. What you can do Consumers who have questions about their payment should contact the refund administrator, JND Legal Administration, at 855-678-0018 or visit the FTC's website to view frequently asked questions about the refund process. The FTC said it never requires people to pay money or provide account information to get a refund. The Source This story was reported using information provided by the Federal Trade Commission on Jan. 28, 2025, in an announcement, as well as information posted on It was reported from Cincinnati.
