Rihanna’s Savage X Fenty Lingerie Brand Is Now Worth $1 Billion
Because everything Rihanna touches turns to billions
Congratulations are in order to Rihanna’s underwear, which is now worth $1 billion — and by Rihanna’s underwear, I of course mean the musician’s explosively popular Savage X Fenty lingerie line.
As reported by Forbes, the lingerie line, launched in 2018 and widely celebrated for its inclusive sizing and branding, has reached a $1 billion valuation following a round of Series B funding led by private equity firm L Catterton that raised $115 million for the brand’s forthcoming retail and activewear expansion. The Savage X Fenty lingerie line, which has reportedly raised $185 million to date, saw revenue growth exceeding 200 percent last year and “increased its active VIP member base by more than 150 percent,” according to a statement from the company. Prior to the most recent funding round, Forbes estimated Rihanna’s stake in the company to be around $80 million.
The rise of Rihanna’s lingerie brand coincided with — and likely contributed to — the downfall of competitor and longtime lingerie giant Victoria’s Secret. Following in the body-positive footsteps of brands like American Eagle’s Aerie and subscription service Adore Me, the Savage X Fenty lingerie line embraced size and racial inclusivity while Victoria’s Secret clung to an increasingly dated and unpopular model of exclusivity and elitism. Rihanna’s lingerie line quickly gained popularity as a brand that embodied everything Victoria’s Secret wasn’t, serving as a foil that highlighted the struggling brand’s flaws. In 2019, Savage X Fenty cemented its meteoric rise over the fallen Victoria’s Secret brand with that year’s Savage x Fenty fashion show, which premiered to extensive fanfare the same year Victoria’s Secret canceled its own once-popular fashion show. Fans were quick to cite Savage X Fenty’s success as one of the final, most damning nails in the Victoria’s Secret coffin, and even supermodels like Bella Hadid, who previously walked in the Victoria’s Secret fashion show, claimed her experience walking in Rihanna’s show far exceeded her time on the VS runway.
While the billion-dollar milestone for Rihanna’s Savage X Fenty line comes as a testament to shifting cultural attitudes and consumers’ growing demand for more inclusive marketing, the brand’s earnings actually pale in comparison to some of the pop star’s other entrepreneurial endeavors. Launched in 2017, Rihanna’s Fenty Beauty line, which also emphasizes racial inclusivity with a diverse range of makeup shade offerings, generated $558 million in its first full year alone, making Rihanna the wealthiest female musician in the world. In 2019, Forbes placed Fenty Beauty’s valuation at more than $3 billion. Savage X Fenty’s latest milestone is just further proof that everything Rihanna touches turns to billions.
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