Rihanna’s Savage X Fenty Worth $1Billion
For, her Savage X Fenty brand has now been valued at $1 billion, according to Forbes.
The news comes after the brand raised $115 million in a round of Series B Funding.
Private equity firm L Catterton, in which LVMH Moët Hennessy Louis Vuitton has a stake and will put the money toward expanding the brand into more retail locations.
Savage X Fenty saw a huge increase of 200% in sales last year and “increased its active VIP member base by more than 150%,” according to the company.
Previously, Rihanna’s stake in the company was estimated at $85 million. That number has now climbed all the way to $375 million.
The brand was first launched in 2018 and many insiders now predict that it could become the global lingerie market leader by 2025.
An impressive feat to say the least. But what are…