Gettin’ To The Money! Rihanna’s Savage X Fenty Is Now Worth $1 Billion!

While fans may have missed Rihanna’s music, she has her businesses on lock!

 

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Forbes reports the Fenty founder’s lingerie line, Savage X Fenty is now worth $1 billion.

Recently, the company secured a Series B investment of $115 million from private equity firm L. Catterton. This investment will go toward the popular lingerie line being sold in brick-and-mortar stores.

“Lingerie is about celebrating your body and that’s what Savage is all about,” said Rihanna. “Savage to me is a powerful word. It’s about being confident, in charge, and taking ownership of our choices. This brand is a home, a hub, and a safe space for everyone — regardless of shape, size, ethnicity, gender identity, or sexual orientation. It is a representation of all and a validation that everyone is beautiful no matter what.”

Prior to the investment, Rihanna held an $85 million stake in her business, now Forbes estimates that her stake is worth $375 million.

“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,” said the company in a press statement.

Since its launch in May 2018 with California’s TechStyle Fashion Group, Savage X Fenty’s revenue has increased tremendously. Last year, the company’s revenue spiked more than 200% and increased its active VIP member base by more than 150%.

 

For More Savage X Fenty News:

Rihanna Apologizes After The Muslim Community Calls Her Out For Offensive Song Played During Savage X Fenty Show

 

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