Rihanna Gets $50 Million From New Investors For Savage x Fenty
Rihanna has just made a major deal regarding her Savage x Fenty lingerie line. The Bajan beauty mogul has just secured $50 million from new investors, the Wall Street Journal reports.
Her investors include Jay Z, who invested through his venture firm Marcy Venture Partners LLC, and growth equity firm Avenir Growth Capital. With her new and old investors, altogether $70 million has been invested into her brand.
Savage x Fenty launched last year and the sales have been through the roof ever since. Savage sales have hit $150 million and that number is continuing to get higher.
Everything that Rih has touched has turned to hold, hence why her fans have been waiting so long for her next album. Her Fenty beauty brand has become an international success because of its all-inclusive approach, offering 40 foundation shades. The “Work” singer took the same approach with her Savage lingerie line and it became just as successful, overpowering lingerie giant Victoria’s Secret.
This new investment comes a week before Fenty’s second annual New York Fashion Week show, which will be streamed on Amazon Prime.