Rihanna’s Savage X Fenty Business Ventures Valued at $1 Billion
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. 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. Rihanna’s 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.
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 eported 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.
“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,” LVMH and Rihanna added in a statement to WWD.