Yes, it’s still true. That Rihanna reign just won’t let up.
Rihanna’s Savage x Fenty lingerie brand is estimated to be worth a whopping $1 billion. The news comes from Forbes who notes that the curve-friendly line’s revenue grew 200% and Savage x Fenty increased its active VIP member base by more than 150%.
“Fashion, culture, and private equity have collided with Rihanna’s successful Savage x Fenty hitting another major milestone by raising its $115 million Series B funding round, at a $1 billion valuation. Private equity firm L Catterton, in which LVMH has a stake in helped the brand secure this bag for its upcoming retail expansion, and to funnel it into a line of athletic wear.
The news comes after Rih’s high-end Fenty fashion brand launched with LVMH, was put on “hold” to focus on expanding the lingerie brand. The Fenty fashion brand included sunglasses, shoes, and ready-to-wear tops and dresses.
As previously reported Rihanna has approached Goldman Sachs to raise $100 million in funds for her Savage x Fenty expansion into activewear while also looking to boost the brand’s presence in Europe. With that and the big billion-dollar news, CultureBanx reports that Savage x Fenty is in a position to be the global lingerie market leader by 2025, the same year that women’s activewear is expected to reach a $216.9 billion value.
Savage x Fenty has been lauded for its size inclusivity and fashionable piece. It boasts ambassadors like Megan Thee Stallion, Lizzo, and Luenell and often features models ranging in size from XS to 3X.