Rihanna‘s Savage x Fenty has once again proved to be one of the major powerhouses in the modern lingerie industry.
Forbes reported that a round of Series B funding raised $115 million for the company's upcoming expansion into retail, led by private equity firm L Catterton, in which LVMH Moët Hennessy Louis Vuitton has a stake. Savage x Fenty saw 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. Prior to the latest funding round, Rihanna's estimated stake in the company was $85 million.
The multi-million dollar investment into Savage x Fenty reaffirms LVMH and Rihanna’s steadfast partnership “to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare, and lingerie.”
She debuted her size-inclusive Savage x Fenty lingerie line on May 10, 2018, with California-based TechStyle Fashion Group. Items typically range from sizes 32A to 42DD and XS to 3X. Jay-Z’s Marcy Venture Partners, Avenir Growth Capital, TriplePoint Ventures, and Sunley House Capital are also investors in the Savage x Fenty lingerie brand.
Rihanna also continues to disrupt the beauty industry with her Fenty Beauty line, which generated over $558 million USD in just its first full year of operation. Fenty Skin has also proven its success, reaching $30 million USD in sales in less than four months on its e-store. With LVMH constantly looking for new ways to grow a larger slice of the $445 billion USD beauty industry, Rihanna’s Fenty empire is expected to be a staple for the French fashion conglomerate.