Rihanna’s lingerie brand, Savage X Fenty, has reached an impressive valuation of $1 billion (£719 million). In a remarkable move, the brand recently secured an additional $115 million (£82.7 million) in funding, with L Catterton, a private equity firm associated with fashion powerhouse LVMH, obtaining a stake in the line. Since its launch in 2018, Savage X Fenty has rapidly gained popularity and is projected to become the leading brand in the market by 2025.
Reigning supreme: Rihanna’s Savage X Fenty collection of intimate apparel is now valued at a staggering $1 billion (£719 million).
Money mama: In a recent funding round, Savage X Fenty, the brand founded by Rihanna, has secured an impressive $115 million (£82.7 million). The funding was obtained through a partnership with L Catterton, a private equity firm in which fashion house LVMH also holds a stake. In a joint statement to WWD, LVMH and Rihanna expressed their commitment to the growth and long-term development of the Fenty brand, particularly in the areas of cosmetics, skincare, and lingerie. Last year, Savage X Fenty experienced a revenue increase of over 200% and expanded its active VIP member base by more than 150%. Rihanna’s other ventures, including Fenty Skin and Fenty Beauty, have also proven to be successful and profitable.
A triumph: The product line was introduced to the market in 2018 and is expected to dominate the industry by 2025.
Catch me if you can: After successfully raising funds and securing investment from L Catterton, the partnership between LVMH and Rihanna remains strong as they express their dedication to the continued expansion and ongoing development of the Fenty brand. Their main areas of focus will be cosmetics, skincare, and lingerie, as stated in a collaborative announcement provided to WWD.
Taking a more detailed glimpse: In the previous year, Savage X Fenty experienced a remarkable surge in revenue exceeding 200%. Furthermore, the brand successfully expanded its active VIP member base by over 150%.
Nevertheless, the apparel division of the Fenty empire was recently placed in a state of suspension. Rihanna, the songstress behind the chart-topping song “Diamonds,” unveiled the upscale fashion brand in collaboration with LVMH in 2019. Nevertheless, after a span of two years, the two entities collectively opted to discontinue their foray into the fashion industry. This strategic maneuver aimed to shift their attention towards the thriving arenas of cosmetics and lingerie.
Rihanna is not just a successful entrepreneur in the lingerie industry, but she has also made a fortune through her highly profitable ventures, Fenty Skin and Fenty Beauty.
She serves as a magnificent muse for her personal collection: Catch a glimpse of the celebrity bare-chested, with no traces of Fenty attire in sight.
LVMH recently released a statement announcing that they, along with Rihanna, have decided to pause the ready-to-wear (RTW) operations in Europe until the conditions improve. This decision comes after a successful fundraising round, where L Catterton invested in Savage X Fenty. Both LVMH and Rihanna are emphasizing their commitment to the growth and long-term development of the Fenty brand, specifically focusing on cosmetics, skincare, and lingerie. While the Fenty clothing label is targeted towards the high-end market, Fenty Beauty and Savage X Fenty offer more affordable options.
Rihanna embraces the RiRi look and enlists various influential figures, like Nicole Williams from WAGS, to promote her brand.
Blanca Blanco, known for her role in Tale Of Tails, was chosen to showcase the Valentine’s Day collection. In a similar fashion, Rihanna collaborated with designer Amina Muaddi for her previous collection in November. While introducing her Fenty clothing line, Rihanna emphasized that she may not be the face of her brand, but her influence and personal style are integral to its identity. She expressed her desire for anyone visiting her website to believe that every piece is something she would proudly wear. In addition to Blanca Blanco, Rihanna also collaborates with other influential figures such as Nicole Williams and Stassie Baby to represent her brand.
Another supporter: Singer JoJo joins the Savage X Fenty bandwagon, expressing her confidence in her own skin. She acknowledges the abundance of remarkable achievements in the year 2020 and encourages those who have been nominated to fully celebrate themselves, their teams, and this significant moment in their careers.
