SavagexFenty raises 115 million dollars

Rihanna’s Fenty line with LVMH might have come to an https://fashionunited.com/executive/management/lvmh-puts-rihanna-s-fenty-brand-on-hold/2021021038009, but her SavagexFenty line is still going strong and growing. The lingerie brand announced this week that it has completed 115 million dollars in Series B fundraising. The latest round of fundraising was led by the Growth Fund of L Catterton, a global consumer-focused private equity firm.

Existing investors also participated in the latest round of funding, and a crop of new investors has been brought on. Rihanna plans on using this new round of Series B funding to expand into retail. In 2020, revenue for SavagexFenty bloomed by 200 percent. Membership to the VIP club subscription grew 150 percent.

SavagexFenty was only founded in 2018, but has become one of the fastest growing lingerie labels in the market. With Victoria’s Secret continuing to see declining market share, SavagexFenty stepped in as a major player well known for its body inclusivity and diversity.

photo: via SavagexFenty Facebook page