Rihanna’s Savage x Fenty Lingerie Line Is Now Worth $1 Billion
It seems like every week Rihanna reminds us why she continues to remain on top. Yesterday Forbes announced that the singer’s lingerie label Savage x Fenty has reached $1 billion in equity. Reporting that a series of funding recently raised by the private equity firm L Catterton, a company LVMH has a stake in, raised its value. In 2020, the brand saw a revenue growth of over 200% and its inciting VIP membership also grew an additional %150.
Just last week it was reported that Rihanna’s luxury label Fenty was paused, but that there would be a greater push for her other projects in beauty and the retail space. While the internet reacted in various ways about her clothing line coming to a halt, almost unanimously Rihanna’s supporters agreed that her Fenty Beauty, Savage x Fenty, and newly launched Fenty Skin were the most valuable in monetization. The pop star’s inclusive approach to her various business endeavors have created a shift within the beauty and loungewear space. From shade range to size, Rihanna is speaking to the moment with her products.
In a series of reports, Rihanna is predicted to be the global lingerie market leader by 2025. While the fashion industry was hit poorly due to COVID-19, the “Work” singer scored big with her intimate selects.