Rihanna’s Savage X Fenty Brand Is Now Worth $1 Billion
By Lauren Crawford
February 16, 2021
Rihanna officially has a billion-dollar brand!
According to Forbes, Rih Rih's lingerie brand Savage X Fenty is now worth a whopping $1 billion. The size-inclusive company reached the feat after "hitting another major milestone by raising its $115 million Series B funding round, at a $1 billion valuation," for its upcoming retail expansion, and its plan to expand into a line of athletic wear.
One of the investors that made it happen during the Series B funding round was L Catterton, a private equity firm that fashion house LVMH has a stake in.
“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," Rihanna and LVMH said in a joint statement.
As reported by Forbes, Savage X Fenty, which is known for its diversity and inclusion in its "sizing, access and marketing," posted revenue growth of more than 200% last year, and “increased its active VIP member base by more than 150%,” according to a statement from the company.
CultureBanx additionally noted that Savage X Fenty is "in a position to be the global lingerie market leader by 2025."
Savage X Fenty's billion-dollar valuation comes nearly three years after the brand launched in May 2018.
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