Rihanna’s Savage X Fenty lingerie brand now worth over R14 billion

0:00
play article
Subscribers can listen to this article
Rihanna arrives at The Fashion Awards 2019 held at Royal Albert Hall on December 02, 2019 in London, England. (Photo by Daniele Venturelli/Daniele Venturelli/WireImage )
Rihanna arrives at The Fashion Awards 2019 held at Royal Albert Hall on December 02, 2019 in London, England. (Photo by Daniele Venturelli/Daniele Venturelli/WireImage )

Rihanna is hugely successful Savage X Fenty lingerie brand has been valued at $1 billion (over R14 billion).

The singer secured an additional $115 million (R2,2 billion) in the second round of investment funding with one financial supporter identified as private equity firm L Catterton backed by French luxury goods conglomerate LVMH. The investment is reportedly being used to support the Savage X Fenty expansion into a new retail and athleticwear line.

READ MORE| Rihanna alongside Kris Jenner as one of America’s richest self-made women, according to Forbes

READ MORE| Rihanna's Savage x Fenty Vol 2 Show created a stir once again with its inclusive star-studded cast

While revenue figures have not been released, a press release from the company's chief claims that sales increased by 200% in 2020 while its subscription-based service grew by 150%. Rihanna launched the label in 2018, adding to her growing business empire, including Fenty Skin and Fenty Beauty.

Do you have a story to share with us? Tell us about it here.

Follow us on social media: FacebookTwitterInstagram

Sign up to W24's newsletters so you don't miss out on any of our stories and giveaways.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Voting Booth
From the Grammys to the NAACP Image Awards to the Oscars; who was your overall best-dressed celebrity of the 2021 awards season?
Please select an option Oops! Something went wrong, please try again later.
Results
Regina King
15% - 15 votes
Zendaya
43% - 43 votes
Anya Taylor-Joy
7% - 7 votes
Emma Corrin
2% - 2 votes
Angela Bassett
14% - 14 votes
Viola Davis
14% - 14 votes
Jurnee Smollett
2% - 2 votes
Cynthia Erivo
2% - 2 votes
Vote