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.
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.
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