Rihanna’s Savage X Fenty gets $ 1 billion worth of Lingerie equity

Fashion, culture and private equity have clashed with successful Savage x Fenty Rihanna hitting another major milestone by raising its Series B funding round to $ 115 million, at a value of $ 1 billion. Private equity firm L Catterton, in which LVMH is involved has helped the brand with this portfolio for the upcoming sales expansion, and turned it into a line of energy-consuming products. acting. Rihanna’s (ella, ella) umbrella of product lines under her Fenty brand has been hugely successful, with her clothing 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 completely following. into its diversified business model.

The breakdown you need to know:

The clothing brand posted revenue growth of more than 200% last year, and “its active VIP member base increased by more than 150%,” according to a statement from the company. CultureBanx reported that Savage x Fenty is in a position to become a global clothing market leader by 2025, the same year that women’s activewear is expected to reach $ 216.9 billion. The Rihanna brand has proven that diversity and inclusion in augmentation, accessibility, and marketing can lead to an even greater goal, equality in feeling sexy.

“Following the completion of the fundraising round where L Catterton participated in Savage X Fenty, LVMH and Rihanna reaffirmed the desire to focus on the long-term growth and development of the Fenty ecosystem with a focus on cosmetics, skin care and clothing, ”LVMH and Rihanna reported to WWD.

Cultural Beauty Building:

All major women’s athletic wear brands like Athleta and Lululemon should heed this agreement as Rih Rih moves into their market, just look at how it has disturbed the beauty sector. In 2018, Fenty’s beauty line generated $ 558 million in its first full year of operation.

Companies like LVMH are always mining new ways to get a bigger share of the $ 445 billion beauty industry that is expanding at 3% per year. Forbes estimates that Rihanna’s bet is $ 375 million. Not to mention that Fenty Skin offset sales of $ 30 million in less than four months on its e-store, according to WWD.

Savage x Fenty has raised $ 185 million so far, and before the new funding, Forbes thought Rihanna was worth about $ 80 million, that number has not gone up now. Returning investors like Marcy Venture Partners Jay-Z, Avenir Growth Capital, TriplePoint Ventures, along with new investors including Sunley House Capital, part of Advent International participated in this round. The company also clarified that Goldman Sachs was only acting as a special positioning agent for Series B funding.

What’s next:

Less than two years after the launch of high-end fashion brand Rihanna Fenty by LVMH, it is now being pushed to focus on expanding the clothing brand. The coronavirus crisis made it difficult to create eight ready-made collections each year while working remotely. The global fashion industry fell 93% in profit in 2020. Rihanna made history as the first woman to create an original brand at LVMH and the first woman of color at the top of LVMH maison. The e-commerce site for Fenty Fashions goes dark before the end of February or early March.