Rihanna’s Savage X Fenty Lingerie Brand Now Values Over $1 Billion
Wednesday, February 17, 2021, 6:43 AM GMT-5
Rihanna has recently become the owner of one of the most valuable companies in the world, her star power has put her in the lead.
Fans who are eager to hear new music from the superstar were told that music is still in the works, but she is working on her business ventures for now.
Rihanna has been busy promoting her lingerie company “Savage X Fenty” and drove Victoria Secret out of business as her company reached $1 Billion in equity for Lingerie.
Forbes has reported that the company reached the goal of raising $115 million Series B funding for $1 Billion valuation and that is another milestone.
The luxury brand LVMH that produced Louis Vuitton and other top names gave the latest round of funding to assist the Savage X Fenty brand to expand in retail. The brand was also helped by L Catterton.
Rihanna’s last music project was launched in 2016, but since then she has only launched many beauty and fashion companies.
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Her lingerie brand caters to all sizes not like the other brands that catered to slim women and medium sizes.
The talented Barbadian musician and actress promotes the female body in all sizes and shapes.
The company that was launched as an online lingerie store now plans to go into athletic wear. Forbes announced that other athletic wear companies are on notice that Rihanna plans to take a chunk out of their profits.
The fashion industry suffered a loss because of the pandemic, this caused the switch to the lingerie line.
Jay-Z’s Marcy Venture’s Partners and other investors were exclusive placement agents in the deal to secure funding.
The business woman is now putting all her focus on lingerie, skin care and cosmetics. This was revealed in a joint statement made by both LVMH and Rihanna.
Check her out below promoting her latest product.
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