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Rihanna Steps Down As CEO Of Lingerie Brand Savage X Fenty

Rihanna is passing the baton for one of her successful companies.

Jun 23, 2023

Rihanna's Savage X Fenty Lingerie Brand Fined $1M In The State Of California

A little while back, Rihanna announced that she would perform at the upcoming Super Bowl halftime show. This announcement had the Navy in a tizzy, as it sparked rumors about potential new music. Rihanna at the superbowl: — toss a coin to your witcher (@itsayosigns) September 25, 2022 Of course, the Internet did what it does best and took the rumors and created memes about how Rihanna would continue on her music hiatus and, instead, use the moment to promote her cosmetic and lingerie lines.

Nov 30, 2022

Influencer Ariana Fletcher Says She Lost A $150K Brand Deal With Rihanna’s Savage X Fenty

Influencer Ariana Fletcher is seemingly revealing what happened with her Savage X Fenty deal.

Oct 7, 2022

Rihanna Has Now Become The Youngest Self-Made Woman Billionaire In America

Rihanna is racking in yet another feat, becoming America’s youngest self-made woman billionaire. According to Forbes, Rihanna sits at an estimated net worth of $1.4 billion, as of this writing.

Jul 5, 2022

Rihanna's Savage X Fenty Reportedly Weighing IPO That Could Takes Its Valuation To $3B

Business for Rihanna’s Savage X Fenty has been booming as of late. In January, AfroTech previously shared that the lingerie brand raised $125 million in a Series C funding round — bringing its total venture capital funding to $310 million. The round included participation from Neuberger Berman, L Catterton, Avenir, Sunley House Capital, and Jay-Z’s Marcy Venture Partners. According to Savage X Fenty co-presidents Christiane Pendarvis and Natalie Guzman, the new funding is for “retail domination.” The brand’s evolution continues as Rihanna is reportedly looking to take it public. According to Bloomberg, the business maven has been “working with advisers on an initial public offering” that could possibly take Savage X Fenty to a valuation of $3 billion or more. The banks that her company is said to be working with is Goldman Sachs Group Inc. and Morgan Stanley, according to the outlet’s sources. The listing could go into effect this year, but nothing has been publicly confirmed yet by...

Mar 11, 2022

Rihanna Sets New Trends With Pregnancy News As Searches For 'Pink Padded Coats' Skyrockets

When you’re a fashion killa, there’s no ceiling when it comes to smashing records! From making waves as an entrepreneur to then setting the standard for what a young, Black billionaire can look like, Rihanna has continued to build the life of her dreams brick by brick. Now, she’s preparing to soar to even greater heights as someone’s mother! Following yesterday’s baby news, Rihanna has shown just why her name turns heads with a +200 percent increase in the fashion demand for “Pink Padded Coats,” in response to the photos shared of the Savage X Fenty creator’s growing belly. View this post on Instagram A post shared by Blavity News (@blavity) According to LovetheSales, the influence of both Rihanna and boyfriend A$AP Rocky are major with the father-to-be driving up the fashion demand for “Men’s Sweater Vests” by a whopping +124 percent as well as “Men’s Leather Trousers” by +78 percent.

Feb 1, 2022

Savage X Fenty Unveils AR Technology To Help Customers Get The Best Fit

We’ve all experienced the inevitable hassle of trying to find our right size while shopping for clothes — especially for bras — but who other than Rihanna to swoop in and save the day. The singer is coming to the rescue, and the “S” on her chest stands for Savage X Fenty. With the lingerie brand’s first-ever brick-and-mortar store now opened in Las Vegas, the store also debuted its augmented reality (AR) technology from apparel matching platform Fit:Match, according to Adweek. “We’re extremely pleased to partner with Fit:Match to lead innovation in the shopping experience and eliminate the fit question for our Savage X Fenty customers,” co-presidents Christiane Pendarvis and Natalie Guzman shared in a statement.

Jan 26, 2022

The Rihanna Reign Continues: Savage X Fenty Raises $125M In Series C Funding Round

In the words of the pop icon herself, “that Rihanna reign just won’t let up!” Right along with the news of Savage X Fenty’s debut brick-and-mortar store in Las Vegas, it has been announced that there is more to come for the successful lingerie brand. Forbes reports that the company had a new funding round of $125 million led by Neuberger Berman.

Jan 26, 2022

Rihanna's Billion-Dollar Savage X Fenty Lingerie Brand Is Set To Open Retail Stores

It’s finally here, Rihanna’s Savage X Fenty is set to open its very own retail stores. On Friday, Jan. 7, Rihanna announced in a tweet that the $1 billion lingerie brand will expand to include brick-and-mortar stores starting with a handful of cities in the U.S. 2022, we coming in HOT! we bout to bring you a whole new #SavageXFenty experience with the launch of our brick-and-mortar retail stores! — Rihanna (@rihanna) January 7, 2022 “2022, we coming in HOT! We bout to bring you a whole new #SavageXFenty experience with the launch of brick-and-mortar retail stores,” the singer wrote in a tweet accompanied by an exclusive mockup of the upcoming store.

Jan 7, 2022

Jay-Z's Marcy Venture Partners Closes Its Second Fund With $325M

It’s no secret that Hip-Hop’s first billionaire Jay-Z is always where the money resides, and that goes for Jay-Z’s Marcy Venture Partners as well. TechCrunch reports, The “Hard Knock Life” rapper’s venture capital firm Marcy Venture Partners — co-founded with Jay Brown (former Roc Nation CEO) and Larry Marcus (Walden VC general partner) — has just closed its second fund with an impressive $325 million. As AfroTech previously reported early last year, the firm’s first fund was a whopping $85 million and signaled the start of new investments. Now, according to TechCrunch, Jay-Z’s Marcy Venture Partners is “now managing $600 million in assets altogether,” says the group’s co-founder Larry Marcus. The trio’s mission is to drive the consumer and mass-market to allow culture to transcend across products, services, media and technology. Marcy Venture Partners prides itself in filling its portfolio with companies that are run by minorities and women pushing forward its key values, which...

Oct 26, 2021

Rihanna Officially Becomes A Billionaire At Age 33

Rihanna has officially hit billionaire status! The singer, born Robyn Fenty, didn’t just rise to the top as an entertainer, but over the past few years she’s become quite the businesswoman thanks to Fenty Beauty — the cosmetics company made to make “women everywhere (feel) included.” After launching in 2017, Fenty Beauty is now the reason that Rihanna has hit billionaire status. The 33-year-old is now worth an estimated $1.7 billion, according to Forbes. Not only does this make her the wealthiest female musician in the world, but now Rihanna is alongside Oprah Winfrey as the richest female entertainer. An estimated $1.4 billion of her fortune is all thanks to Fenty Beauty which the “Love On The Brain Singer” owns half of. The rest of her coins comes from her lingerie company, Savage x Fenty, which is worth an estimated $270 million and the remaining amount is thanks to the money she’s made as a chart-topping musician and actress. If folks haven’t considered Rihanna a mogul yet, they...

Aug 4, 2021

Rihanna’s Savage X Fenty is Officially a $1 Billion-Dollar Lingerie Brand

Mega-superstar Rihanna has climbed the top ranks of music, beauty, and fashion in less than a decade. Now she’s officially the owner of a billion-dollar lingerie brand. According to Forbes, her highly-successful Savage x Fenty brand has just hit another major milestone after raising its $115 million Series B funding round – bringing it to a $1 billion valuation. LVMH-backed private equity firm L Catterton reportedly had a hand in helping the brand secure this investment round for its upcoming retail and athletic wear expansion. According to a statement from Savage x Fenty, the brand saw revenue growth of over 200% last year and “increased its active VIP member base by more than 150%.” Prior to this latest funding round, Rihanna’s estimated stake in the company was worth $85 million. According to Forbes, Rihanna's ‘Savage X Fenty’ has reached $1 billion valuation in lingerie equity. It is expected to become the global lingerie market leader by 2025. — Pop...

Feb 17, 2021

Rihanna's Savage X Fenty Secures $115M in Series B Funding, But Pauses High-End Fenty Line

Savage X Fenty, the lingerie line curated by international pop superstar Rihanna , has just announced that it’s closed a $115 million Series B funding round. According to Marketwatch, while this funding round — which was led by private-equity firm L Catterton — will be used to get the popular brand into brick-and-mortar stores, the news comes hot on the heels of the announcement that the high-end Fenty line, which was released in partnership with LVMH, will “pause” production. This, ultimately, has a two-fold meaning for Rihanna’s business ventures. Fenty’s “pausing” is indicative of the near-demise of high-end fashion in the wake of the coronavirus pandemic. In a statement, LVMH has said that it’s halting the production of the high-end line in the hopes that it can pick it up again when the availability presents itself. “Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity, pending better conditions,” a company spokesman said to WWD. However,...