No surprises here…
Continuing to push things forward and prove she’s way more than just a musician, global superstar Rihanna has achieved a huge milestone with her Savage X Fenty lingerie brand. Now, after its various lines and drops, Savage X Fenty is now officially worth $1 billion USD ($1.2 billion AUD).
The update comes after the brand secured $115 million USD ($148 million AUD) in funding, which pushed it over the line to hit $1 billion USD. The new funds are reportedly being used to support growth and develop more products.
It’s been a pretty crazy year and a half for the lingerie brand, which reported a solid 200% growth from 2019 to now, along with its VIP memberships increasing by 150 percent.
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However, while the lingerie side of Rihanna’s empire is killing it, she recently opted to end her fashion house with LVMH, giving a statement that read “Following the completion of the fundraising round where L Catterton took a stake in Savage X Fenty, LVMH and Rihanna reaffirmed their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare, and lingerie.” No doubt she’ll continue to dominate the beauty and lingerie game though, especially now that she’s got the billion dollar tick of approval.
Pretty sick. Check out Rihanna’s recent Savage x Fenty Valentine’s Day drop below to see what a billion dollar company looks like.
