- Words Solly Warner
Rihanna's inclusive Savage X Fenty lingerie line reaches ground-breaking heights as it's valued at $1 billion.
Savage X Fenty reached the milestone after a round of Series B funding that raised $115 million for the company’s upcoming expansion into retail, Forbes reports. This was led by private equity firm L Catterton, in which LVMH has a stake, helping the brand secure the investment for its upcoming athletic wear expansion.
Despite the recent news that the conglomerate had decided to put the RiRi’s luxury Fenty Ready-To-Wear line on hold, 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.”
Savage X Fenty saw revenue growth of more than 200% last year and according to a statement from the company, the brand also “increased its active VIP member base by more than 150%.” Reports now suggest that the line is on track to become the global lingerie market leader by 2025.
Through foundation and application, Rihanna has proven that diversity and inclusivity are more than just a couple of buzzwords.