Rihanna's Savage x Fenty Is Officially Worth $1B

Rihanna’s Fenty x Savage brand reaches a major milestone.

Fans have been eagerly demanding the release of R9.Rihanna has even been teasing the rest of us that it’ll never actually arrive. She’s been working, though, whether it’s on this album or the Fenty empire, which has been steadily growing. Although she recently had to shut down her LVMH brand for the timebeing, she didn’t leave that situation with a loss of any sort. In fact, it actually helped boost the Fenty x Savage brand into the billion-dollar club.

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The completion of a round of Series B funding for Savage x Fenty raised $115M, pushing the brand’s worth to $1B. The $115M raised is intended to help expand the Fenty brand with retail stores and an athletic wear line. CultureBanx predicts that after the success after these past few years, the brand is on pace to lead the global lingerie market by 2025.

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“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 said in a statement to WWD.

Rihanna is evidently making massive moves in the fashion industry. It’s exciting to see what she may have up her sleeve in the coming year on the business side.

[Via]