Rihanna‘s Savage x Fenty lingerie line is worth far more than a few diamonds — the company is officially valued at $1 billion.
According to Forbes, Rihanna enjoyed a boost from private equity firm L Catterton, who helped the Savage x Fenty brand raise $115 million in Series B funding as the brand focuses on expanding sales beyond the online market and into physical stores.
LVMH Moët Hennessy Louis Vuitton has a stake in L Catterton.
This development comes as Rihanna’s lingerie line experienced a literal boom in sales — growing by over 200 percent last year alone. The company adds that revenue growth also “increased its active VIP member base by more than 150%.”
Prior to the $1 billion price tag, the nine-time Grammy winner had a stake in the company worth $85 million — now, it’s estimated to be around $375 million.
With this new development, beauty insiders believe Rihanna’s company could become the leading global brand by 2025.
Rihanna says that she will now “concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare, and lingerie,” in a statement to WWD.
The 32-year-old “Umbrella” singer first debuted her Savage x Fenty line in 2018 and received wide acclaim due to the brand’s size inclusivity and diverse marketing campaign. Items typically are available in sizes 32A to 42DD, as well as up to 3X.
As for Rihanna’s Fenty Beauty line, she is dominating the makeup market as well, says Forbes, reporting the cosmetics line earned $558 million in its first year of debut.
By Megan Stone
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