Singer Rihanna -
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A billion dollars.
Rihanna's Savage X Fenty brand is now valued at this amount.
The singer managed to raise an additional $ 115 million after a new round of funding with investment firm L Catterton.
According to
Forbes
, this influx of money will allow the brand to continue its commercial presence and to grow.
LVMH, partner of Savage X Fenty, relies heavily on its business model to become the world number 1 in lingerie by 2025. In addition to lingerie (a sector that generates 13.1 billion dollars each year in the United States ), Rihanna now wants to become essential in the sportswear sector.
Total box
It must be said that the singer's brand was a hit last year.
Whether the lockdown has encouraged women to buy more lingerie or whether it is simply a natural shift in the market to more inclusive and diverse brands like Fenty, the popstar's business plans have in any case. doubled last year.
“After the end of the fundraising in which L Catterton took a stake in Savage X Fenty, LVMH and Rihanna reaffirmed their ambition to focus on the growth and long-term development of the Fenty ecosystem by focusing on cosmetics, skin care and lingerie, ”said LVMH and Rihanna in a joint statement relayed by Forbes.
Rihanna had recently announced that she was putting aside her Fenty clothing line to focus her efforts on the most promising sectors.
The cosmetics industry currently weighs 445 billion dollars, with growth of 3% each year, recalls the magazine.
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