Rihanna Secures $50 Million Investment From Jay-Z & Others
When the topic of discussion is Rihanna and her latest business ventures, an outsider overhearing the conversation would think her brands have been around for ages–but as we all know, that’s not the case. Savage X Fenty is just over a year old and the brand is already killing it.
According to reports from the Wall Street Journal, Rih has secured $50 Million in additional capital for her lingerie brand, Savage X Fenty. This brings her total amount invested to $70 Million.
The real win here is being at $70 Million invested while also recently having passed a whopping $150 Million in sales! The brand has clearly had massive success in its first year, and that’s because it has quickly become a fan favorite thanks to its great designs, advertising, and being size inclusive.
WSJ spoke to people familiar with the situation who stated the brand secured investments from Jay-Z & his venture firm Marcy Venture Partners LLC, along with growth equity from Avenir Growth Capital. This announcement is perfect timing as Rihanna just announced the brand will have its first Runway show next month for New York Fashion week.
In addition, she will give Amazon exclusive access to film an upcoming behind-the-scenes documentary about the entire process. Once it’s released, the documentary will be only available to Amazon Prime viewers.
The Savage X Fenty ship is not slowing down anytime soon, especially as the holiday season approaches–cause you already know those pieces are gonna be on top of every girl’s Christmas list!