It is a beautiful day for Rihanna as her business which is two years old now has a total worth of a billion dollars. This comes after news that she will be putting the business on hold.
Private equity firm L Catterton, in which LVMH has a stake in helped the brand secure this bag for its upcoming retail expansion, and to funnel it into a line of athletic wear.
Fashion, culture, and private equity have collided with Rihanna’s successful Savage x Fenty hitting another major milestone by raising its $115 million Series B funding round, at a $1 billion valuation.
Rihanna’s umbrella (ella, ella) of product lines under her Fenty brand have been extremely successful, with her lingerie brand sitting squarely at the center of business and culture in the $13.1 billion U.S. women’s underwear sector, leaving Savage x Fenty partner LVMH to completely lean in on her diverse business model according to Forbes.
The lingerie brand posted revenue growth of more than 200% last year, and “increased its active VIP member base by more than 150%,” according to a statement from the company.
It is reported by Forbes that Savage x Fenty is in a position to be the global lingerie market leader by 2025, the same year that women’s activewear is expected to reach a $216.9 billion value.
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.
Savage x Fenty has raised $185 million to date, and prior to the new funding, Forbes estimated Rihanna’s stake to be worth about $80 million, that number has only increased now.
Return investors such as Jay-Z’s Marcy Venture Partners, Avenir Growth Capital, TriplePoint Ventures, along with new investors including Sunley House Capital, part of Advent International participated in this round.