- Kristopher Fraser |
Rihanna's lingerie line, Savage x Fenty, has received 50 million dollar in funding after an impressive year of sales, The Wall Street Journal reports. The addition 50 million dollars in capital comes after a 20 million dollar round of fundraising, bringing Savage x Fenty's total fundraising efforts to 70 million dollars. Some of that investment money came from Jay-Z's Marcy Venture Partners.
Rihanna's Savage x Fenty has been able to win over consumers, not just because of her celebrity star power, but because of her size inclusivity. She's known for using models from straight size to plus size, having a diverse customer base from the get-go.
Rihanna's fundraising total for Savage x Fenty now 70 million dollars
Savage x Fenty is a joint venture between Rihanna and Techstyle, the company that also owns Kate Hudson's Fabletics and Shoedazzle. With Victoria's Secrets popularity in decline, Savage x Fenty has been able to capture valuable market share bolstering their success. Sales are approaching 150 million dollars, which is very impressive for a brand that only launched in May 2018.
Savage x Fenty's upcoming show, expected to take place during New York Fashion Week, will also be broadcast on Amazon Prime Video, helping her reach an audience beyond the typical fashion crowd. Between the success of her lingerie line and the multi-million dollar enterprise that has become Fenty Beauty, it's good to be Rihanna right now.
Photo: Fenty Beauty Facebook