Rihanna's Savage X Fenty Worth $1 Billion

Rihanna's fashion line, Fenty might have been put on hold, but her lingerie line Savage X Fenty cannot be held down. In a recent post by Forbes, the brand has raised $115 million in Series B funding, which brings it to a valuation of $1 billion, a major milestone for the popular line.

The funding round was led by L Catterton, a private equity firm in which LVMH has a stake. It came just at the time when Fenty, Rihanna's fashion line was said to have halted operations. The fashion line, Fenty, which was launched in 2019 under the LVMH, had to stop due to lack of profitability. 

Profitability is however just a problem for the fashion line as Savage X Fenty, the singer's lingerie brand has proven to be immensely successful. Becoming a strong rival to prominent lingerie brands like Victoria Secrets. According to a statement from the brand, it saw a growth of over 200 percent last year in its revenue and increased its active VIP member base by over 150 percent.

The Savage X Fenty line launched in 2018, as part of Rihanna's drift from music into the entrepreneurship world. It launched as a joint project with TechStyle Fashion and had the likes of Marcy Venture Partners( owned by Jay-Z) and Avenue as early investors.

One of the reasons for Savage X Fenty's global success is its inclusivity and vibrancy. Unlike other brands that cater to only small and medium sizes, Savage X Fenty has merch that caters to various body shapes, sizes, and sexuality, leaving no one left behind.

In a press release, where Rihanna talks about Fenty, she says, "Lingerie is about celebrating your body and that’s what Savage is all about, one of the most luxurious ways to celebrate your body is by putting on an opulent lingerie set. Whether it’s an intricate bodysuit or a lace-trimmed bralette, an elevated undergarment can be a fantastic at-home mood booster." 

“This brand is a home, a hub, and a safe space for everyone—regardless of shape, size, ethnicity, gender identity, or sexual orientation,” She adds.

According to a joint statement from Rihanna and the brand, the new funding raise will be channeled towards expansion, as they're focused on the growth and development of "Fenty ecosystem focusing on cosmetics, skincare, and lingerie.

Forbes has estimated Rihanna’s stake to be worth about $80 million, putting the net-worth of the singer turned business mogul at $600 million. This comprises of earnings from her rich music and acting career, and stakes in Savage x Fenty, and Fenty Beauty - while the beauty line of Fenty is yet to publicize its earnings, it has been estimated that Rihanna's stake in the company is worth over $375 million, making it her most prized asset.