Rihanna’s Savage X Fenty Raises $125 Million, Which Means Inclusivity Will Get Sexier
The current fashion and beauty markets are blooming and how. Most recently we heard about Kim Kardashian’s Skims soaring high with a doubled valuation of $3.2 billion. And now it’s our dear Riri who certainly had another surprise in store for us, post her big pregnancy announcement. Rihanna’s Savage X Fenty has secured $125 million in a new round of funding from investors to fuel its ongoing expansion into brick-and-mortar retail (Wow, Riri!). Ever since its launch in 2018, Savage X Fenty has promoted body-positive lingerie with annual fashion shows and now the big-budget funding indicates the brand’s entry into a line of athletic wear. Although the label’s valuation post the latest funding wasn’t disclosed, it’s in a position to be the global leader in the lingerie market by 2025, the same year that women’s activewear is expected to reach $216.9 billion value. Its latest backers also include Abu Dhabi-based Multiply Group, which contributed $25 million, as well as the Abu Dhabi Growth Fund. The label further plans to expand the number of stores by the end of 2022.
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ALSO READ: Rihanna And A$AP Rocky Are Pregnant. We Love How They Chose To Flaunt The Baby Bump Instead Of A Boring Announcement!
With a net worth of $1.7 billion, global pop star Rihanna herself holds the second rank amongst the world’s richest female entertainers. Apart from Savage X Fenty, Rihanna also holds a 50 per cent stake in the cosmetics line Fenty Beauty. The brand earned more than $550 million in revenue in 2020. And it was only recently when the newly opened Savage X Fenty stores captured eyeballs. From the brightly lit ambience, body-positive mannequins to 3D scans of human Savage models, the brand’s new store approach aims to achieve the sexy inclusivity of Savage.
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Kim Kardashian’s Skims Doubles Valuation To $3.2 Billion. This Kardashian Is Really A Kween!
