According to Forbes, Rihanna’s Savage x Fenty has once again proven to be one of the major powerhouses in the modern lingerie industry, with the business now officially worth $1 billion. Savage x Fenty hit a significant milestone, raising $115 million, which helped increase the business’ valuation to $1 billion. In 2020, the lingerie brand posted revenue growth of over 200%. It also increased its active VIP member base by more than 150%. Savage x Fenty is set to be the global lingerie market leader by 2025, which will be the same year Fenty’s women’s activewear is expected to hit $216.9 billion.
Rihanna also continues to disrupt the beauty industry with her Fenty Beauty line, which generated over $558 million in just its first full year of operation. Fenty Skin has also proven its success, reaching $30 million in sales in less than four months on its eStore. With LVMH, a luxury brand, constantly looking for new ways to grow a larger slice of the $445 billion beauty industry, Rihanna’s Fenty empire is expected to be a staple for the French fashion conglomerate.
The Fenty brand has made itself known throughout cosmetics, skincare, and now lingerie. The singer turned fashion and beauty mogul made history when she inked a deal with LVMH in May 2019, becoming “the first woman to create an original brand at LVMH and the first woman of color at the top of an LVMH Maison. Fenty, her high-end fashion brand, recent linkage with LVMH was meant to help it break into the designer industry. This was put on pause once the pandemic began and hasn’t picked back up just yet.
Despite one project coming to a halt, Rihanna has her hands full with her other multibillion-dollar businesses, including Fenty Beauty, Savage X Fenty, and her highly anticipated ninth album.