Rihanna, singer and entrepreneur, has made history by building two billion-dollar companies in beauty and fashion. Fenty Beauty and Savage X Fenty now have a combined value of over $3 billion, marking a major milestone in her career.
Fenty Beauty launched in 2017 with a foundation line designed for all skin tones. Rihanna wanted every woman to feel included, staying closely involved in product development. The brand quickly gained worldwide attention, and within a year, it was valued at over $1 billion after partnering with LVMH.
In 2018, Rihanna expanded into fashion with Savage X Fenty, a lingerie brand focused on size inclusivity and diverse representation. The company’s campaigns, fashion shows, and wide product range helped it grow rapidly in the market. By 2021, Savage X Fenty reached a $1 billion valuation, boosted by strong revenue growth and a growing VIP member base.
According to AfroTech, the brand continued to expand with retail stores across the U.S. and additional funding, bringing its total venture capital to $310 million. Rihanna stepped down as CEO in 2023, celebrating the brand’s success and impact on the industry, calling it just the beginning for Savage X Fenty.
Rihanna’s business portfolio also includes Fenty Skin and a developing Fenty Hair line. Together with her music achievements, including being the most-streamed Black female artist on Spotify, Rihanna has solidified her place as a cultural and business icon.
SOURCE: blackbusiness.com