Rihanna’s Savage X Fenty brand valued at $1 billion, Forbes says
The company is set to be the leader of the lingerie market by 2025
According to Forbes, Rihanna’s Savage X Fenty brand reached a $1 billion valuation, a major milestone for the singer.
Savage X Fenty has been extremely successful for Rihanna. From star-studded brand ambassadors to jaw-dropping fashion shows on Amazon Prime, Savage X Fenty has become a brand that stands on its own, even outside of Rihanna’s already massively successful music career.
Read More: Rihanna, LVMH put luxury Fenty brand on hold
Per Forbes, Savage X Fenty, “posted revenue growth of more than 200% last year, and ‘increased its active VIP member base by more than 150%,’” and according to CultureBanx, if the company keeps on this track, they will be the leading company in the lingerie market by 2025.
Forbes credits Rihanna’s inclusive model as the secret to the brand’s success, writing, “Rihanna’s brand has proven that diversity and inclusion in sizing, access, and marketing can lead to an even greater goal, equity in feeling sexy.”
An official statement from LVMH (the parent company of Dior, Givenchy, and Fendi) and Rihanna reads, “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.”
It was recently announced that Rihanna and LVMH put the luxury Fenty brand on hold to focus on expanding the lingerie brand, which was clearly the right move. During the news of the suspension, they released a statement to Pitchfork.
“Following the completion of a fundraising round where L Catterton has taken a stake into Savage X Fenty, LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare and lingerie…In the meantime, Rihanna and LVMH have jointly made the decision to put on hold the RTW [ready-to-wear] activity, based in Europe, pending better conditions.”
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