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Rihanna’s Savage X Fenty Lingerie Line Is Now Worth $1 Billion

todayFebruary 17, 2021

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Savage X Fenty is a billion-dollar brand.

Rihanna’s lingerie line is now valued at $1 billion after raising $115 million in a round of Series B funding, reports Forbes.

Private equity firm L Catterton, in which LVMH Moët Hennessy Louis Vuitton has a stake, will put the money toward the retail expansion of Savage X Fenty. The brand saw a 200% increase in sales last year and “increased its active VIP member base by more than 150%,” according to the company. Prior to the $1 billion valuation, Rihanna’s stake in the company was $85 million. It is now estimated to be around $375 million.

Last week, LVMH announced that it was putting a hold on Rihanna’s Fenty fashion brand less than two years after its launch. Instead, it plans to concentrate on Savage X Fenty, as well as Fenty Beauty and Fenty Skin.

“Following the completion of a fundraising round where L Catterton has taken a stake into Savage X Fenty, LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare, and lingerie,” LVMH and Rihanna said in a statement.

Launched in 2018, Savage X Fenty has been celebrated for its size inclusivity and diverse marketing including the annual Savage X Fenty show on Amazon Prime Video. Insiders believe the beauty brand could become the global lingerie market leader by 2025.

Rihanna’s Fenty Beauty line is also enjoying robust sales, with a reported $558 million in its first full year in operation in 2018.

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Lauryn Hill’s ‘Miseducation’ Earns Diamond Award

Lauryn Hill is making history. Over two decades since The Miseducation of Lauryn Hill was released, the landmark album has been certified 10x platinum by the Recording Industry Association of America (RIAA), becoming the first female hip-hop album to earn a Diamond award. “Welcome to the RIAA Diamond Club @MsLaurynHill! #TheMiseducationofLaurynHill is now a 💎 (10X) certified album!” the RIAA tweeted on Tuesday (Feb. 16). Welcome to the RIAA Diamond Club @MsLaurynHill! #TheMiseducationofLaurynHill is now a 💎 (10X) certified album! […]

todayFebruary 17, 2021

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