Joe Mimran is a Canadian immigrant who became a successful entrepreneur. Joe Mimran or also known as “Jo Fresh” or “Joe Fresh.”
Joe Mimran is a dragon on CBC Dragons Den and a Canadian fashion pioneer. He is the one who became a millionaire by selling just a single deal to Ralph Lauren.
In this article, we got you covered with every detail of Joe Mimran’s life, especially how this one deal increased his net worth in such a grand manner.
So do read on to get a glimpse of this amazing personality.
Joe Mimran Net Worth
Joe Mimran’s total net worth is estimated to be about $200 million as of 2023. In the previous year, he had a net worth of around $180 Million.
Joe Mimran is a famous fashion designer, entrepreneur, and investor who joined the Canadian reality television show Dragon’s Den in 2015. He amassed an incredible fortune and has plenty of money to invest now.
This became his major source of income which helped him earn $20 Million. The majority of it originates from the sale of his company Club Monaco to Ralph Lauren for which he was paid an incredible $122 million in 2000.
As estimates suggest, his money from many such endeavors will continue to grow.
Who is Joe Mimran?
Joe Mimran is a leading contributor to the fashion and design industry and is best known for creating a succession of visionary brands and retail concepts, including Club Monaco, Caban, Joe Fresh, Joe Fresh Beauty, and Alfred Sung.
He’s also known as “Joe Mimran no socks“, as he appears on Dragons Den with shoes, but without socks. Which for a man at the age of 70 is a trendy point of fashion.
With his almost trademark glasses look, Mimran is a sharp-dressed entrepreneur. His glasses are bespoke made by Oliver Goldsmith and he says: “I can’t live (or see) without them.”
Joe Mimran Age
Joe Mimran is currently 70 years old as of 2023. However, he will be 71 years old by December this year.
He was born on the 2nd of December, 1952, and is aging gracefully.
Joe Mimran Biography
Joe Mimran was born on 2 December 1952 in Casablanca, Morocco. He holds Moroccan nationality and belongs to a mixed ethnic descent.
His mother was a couturier and Joe was drawn to design from an early age.
Joe Mimran earned a Bachelor of Arts degree at York University. Mimran started his own small art gallery while still at the university.
Later, he also received a bachelor’s degree in commerce and CPA at the University of Windsor.
When his brother bought a small factory and started a brand Ms. Originals, Joe joined him.
The business was running very well and the Mimran brothers hired a famous designer Alfred Sung to help them improve their clothing lines.
In the 1980s, Joe started his own company named Club Monaco. He managed to make a popular brand out of it and sold it in 2000 to Ralph Lauren. This single transaction made him incredibly rich.
With his newly acquired stellar net worth, Mimran could easily retire but he has too much of an entrepreneurial spirit for that.
He re-opened his old design consulting firm instead, Joseph Mimran & Associates, and started investing in promising start-ups. His appearance on Dragon’s Den is in line with this new passion.
Joe Mimran Club Monaco
Joe Mimran was faced with the trouble of not being able to find a white cotton shirt when he founded Club Monaco. This was his first major business.
This was in the mid-1980s when he began his Canadian fashion business. Originally the business was developed as a line of minimalist basics.
The company has been a public company twice. The first time was in 1986 but was made private again in 1989 until it was floated once more in 1996.
To add to the brand of Club Monaco, Mimran created the home-ware business, Caban.
Joe Mimran increased his wealth significantly when he sold both Club Monaco and Caban to Ralph Lauren in 1999 for a cool £73 million (CAD 122 million; USD $98.6 million).
At this stage in the growth of Club Monaco, the business was international with 125 stores worldwide including New York, America, and London, England.
Joe Mimran Wife
Joe Mimran lives with his wife Kimberley Newport-Mimran in their Toronto home. Joe and Kim Mimran got married in 2001 and are a design duo.
In an interview with Hello magazine, he explains that when it comes to design: “Kim and I usually agree on everything.”
Joe and Kim Mimran also have a house in Upper East Side Manhattan, New York. The walls of their New York maisonette house have many of Joe Mimran’s art collections.
His extensive art collection includes paintings by Thomas Zipp, Hannah van Bart and Larry Poons. It also includes a sculpture by Volker Huller too.
Joe Mimran also has a Palm Beach house too. Their Palm Beach home is an ultra-modern 3,483 square-foot home, complete with a pool.
He bought this beach house property with his wife Kim in 2011 for a cool £1.6 million (USD $2.14 million; CAD $2.65 million).
His wife Kim is a self-proclaimed foodie. She loves to cook at home and Joe loves her cooking. No doubt their marriage sits so well.
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Joe Mimran Children
Joe Mimran and Kimberley Newport-Mimran have a daughter together, named Jacqueline.
But Joe Mimran also has three children from his first wife and interior designer Sharon Mimran.
One of his children is his son Alexander Mimran who has followed in his father’s foot footsteps to become an entrepreneur, but not in fashion.
His son is a web entrepreneur who shares his condo with Jordan Porter, a fashion and beauty editor.
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Conclusion
Joe Mimran is a famous entrepreneur who is also a very homely person. Along with business he has handled his family very well.
As of now, he is doing exceptionally well in his business ventures and we do wish him all the luck in his next endeavors.
Thank you for reading this article about Joe Mimran. Do add your thoughts and comments below!
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