Vince Camuto Net Worth

Vince Camuto Net Worth 2023: Mystery Buyer Snags $72M Hamptons Estate

Net Worth

What is Vince Camuto Net Worth?

Upon his death, Vince Camuto Net Worth had a net worth of $700 million as a footwear designer and businessman. In addition to co-founding the women’s fashion brand Nine West, Vince is the son of a modest New York City seamstress. In 1999, Jones Apparel Group acquired Nine West for $900 million.

Afterward, Vince founded Vince Camuto Net Worth Group, a shoe licensee, which earned him a second fortune. As a result, it manufactured products for licensed brands and names. During the mid-2000s, Jessica Simpson hired the Camuto Group to manufacture her custom shoes.

Vince Camuto Net Worth

Early life – Vince Camuto Net Worth

The birth of John Vincent Camuto took place on June 4, 1936, in New York, New York. At the age of two, Vince’s Sicilian-born father passed away. He was raised by his seamstress mother, Louise.

In New York City, Vince attended Seward Park High School. He entered the workforce at 18 as a shoe-repair boy at a department store with no college options. Eventually, he became a retail salesman.

Career – Vince Camuto Net Worth

The Sudbury Shoe Company hired Vince in the 1960s. During his time there, he learned the business of producing shoes on a large scale. During his time with Sudbury, Vince was responsible for the company’s Maine factory. Within a few years, he managed to turn around that factory.

A flight on an airplane in 1968 struck Vince by fate. He was seated next to Jerome “Jack” Fisher on this flight. After hitting it off on that plane ride, they decided to start a business together.

Jack and Vince developed and managed a shoe factory in Brazil as part of their contract with the Japanese trading company Sumitomo Corporation.

Nine West – Vince Camuto Net Worth

Vince Camuto Net Worth

Jack and Vince left Sumitomo in 1977 to launch their brand, initially called “Fisher Camuto,” but ultimately renamed “Nine West.”

One of Nine West’s most significant breakthroughs was importing shoes and other footwear of the same size in cases. In the past, other importers imported all different sizes at once, which could lead to inventory and warehouse nightmares. The company drastically reduced its storage and inventory planning costs by purchasing all the exact dimensions in one shipment.

Within a few years, the company opened several stores across the country.

Nine West became public in 1993.

Jones Apparel Group acquired Nine West for $900 million in 1999. After adjusting for inflation, that would be about $1.5 billion today.

Camuto Group – Vince Camuto Net Worth

Vince and Louise Camuto, not to be confused with his mother, also named Louise Camuto, founded the Camuto Group two years after selling Nine West. With the Camuto Group, retailers and other licensors could design, market, source, and manufacture shoes.

Camuto Group soon made shoes for Dillard’s, Antonio Melani, Nurture, and others. Licensing deals, however, were where Camuto made money. Max Azria, BCBG, Tory Burch, Jessica Simpson, and Lucky Brand Jeans were exclusive licensees of the Camuto Group.

The Camuto Group created a $200 shoe for Tory Burch called the Reva flat, one of its greatest successes. At the time, similar high-end shoes sold for $700-$1,000.

Jessica Simpson Brand– Vince Camuto Net Worth

With Jessica Simpson’s newly launched clothing brand, the Camuto Group signed a master licensing agreement in 2005. Camuto purchased the rights to manufacture all kinds of apparel with Simpson, not just shoes. Camuto also acquired 25% of Simpson’s overall brand and the master license.

Jessica Simpson’s first Camuto shoe was the Daisy, a red high-heeled cowboy boot released in conjunction with the 2005 reboot of The Dukes of Hazzard. Under Simpson’s name, everything from jeans to perfume was manufactured.

By 2010 the Jessica Simpson brand had surpassed $

Gross retail sales for the year were 750 million. Its gross sales topped $1 billion at its peak in 2014.

Personal Life and Passing

On January 21, 2015, Vince Camuto passed from prostate cancer at age 78. His funeral program included the following quote from Jessica Simpson:

From 1992 until his death, he was married to Louise, a former Miss Sweden.

Real estate – Vince Camuto Net Worth

“Chateau Ridge” is a 23-acre estate in Greenwich, Connecticut, with a 16,000-square-foot mansion reminiscent of a European castle. It appeared to be Vince’s primary residence at his death. An annual property tax bill of $130,000 is expected for the home. There was an opening bid of $25 million for the home at auction in 2020 Vince Camuto Net Worth.

In 2005, Vince Camuto Net Worth and his wife bought a Hamptons estate for $35 million. They purchased the property from the Order of St. Dominic sisters, who had owned it since 1931. The estate was sold for just under $50 million by Vince’s widow in 2018:

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