How did Rihanna make her company a millionaire business

While sings in Pour It Up, everything Rihanna Ves are signs of dollar, this time from her lingerie company, Savage X Fenty.Coinciding with the opening of the company's first physical store during the weekend, Savage X Fenty announced a new financing round of $ 125 million directed by Neuberger Berman.

Other investors of the Rihanna lingerie company were L Catterton (a private capital firm backed by Bernard Arnault de LVMH), Avenir, Sunley House Capital, Advent International and Marcy Venture Partners (the risk capital firm co-founded by Jay-Z).In addition, the company also received a new investment from Lionntree, Abu Dhabi Growth Fund (ADG) and Multiply Group

This raises the total financing of risk capital to date to US $ 310 million for the lingerie brand, which Robin "Rihanna" Fenty debuted in 2018 with Techstyles Fashion Group, and then split in 2019.

Rihanna became a multimillionaire last year when Forbes estimated her net assets at US $ 1.7 billion, with most of her wealth rooted in her cosmetics company, Fenty Beauty, which has a value of US $ 1.4 billion.The remaining $ 270 million come from the lingerie brand, as well as the musical career and acting of it.

Last February, Savage X Fenty raised US $ 115 million in series B. Rihanna, at that time, had a 30% stake in the Savage brand.Savage X Fenty, Neuberger Berman, L Catterton and Marcy Venture Partners did not respond to the company's assessment requests.

The last financing will support the fashion company of the fashion company in the physical retail trade, the expansion plans abroad and the launch of new product lines.The announcement of series C coincides with the expected opening of the first Savage X Fenty boutique at the Fashion Show Mall in Las Vegas Strip.

The company plans to open four more stores in the first quarter of 2022 and a total of ten for the end of the year, according to the co -presidents of Savage X Fenty, Christiane Pendarvis and Natalie Guzman, who also serve as commercial director and marketing director.Officer, respectively.

The next store will open in Culver City in Los Angeles (where the company is headquarters), followed by the Galleria shopping center in Houston, the King of Prussia shopping center on the outskirts of Philadelphia and the Pentagon City fashion center in Arlington,Virginia.

"We will start with a limited amount of stores," says Pendarvis."It will represent a small percentage of our business. It is about making sure to obtain the formula and the correct assortment combination in the stores. This is a year of extremely curious test and learning for us, then we will see us increase next year."

Rihanna's lingerie company figures

Since its creation as a direct company to the consumer in 2018, Savage X Fenty de Rihanna records income of 150% every year, according to Pendarvis.She and Guzmán report to Rihanna, who is the CEO.The company refused to comment on income.

Meanwhile, the intimate clothing market for women grew from before the 2019 pandemic, according to NPD Group.The female underwear market in the USA. It reached 16 billion dollars in 2021, a 34 % increase in dollars in dollars, compared to 2020.

Jessica Ramirez, asociada de investigación minorista de Jane Hali & Associates, dice que la marca se está beneficiando de un gran momento y un gran poder estelar. "Savage llegó en un momento en que el sector del mercado de la ropa íntima estaba siendo desafiado a cambiar, dejando atrás esta idea de lo sexy y redefiniendo lo que eso significa. Victoria's Secret dejó eso fuera de la conversación por un tiempo, dejándolo en manos de nuevas marcas con nuevas ideas para buscar participación de mercado".

@kfairris @leonnoel @Traversymedia Wow!I’M Flattered to Be included here Next To Two of The Doubes Most Responsible ... https://t.co/4kykflgopz

— Sam Sycamore 🌲 ⛰ Thu Jul 22 00:34:10 +0000 2021

"Rihanna's followers are also part of that victory," he adds."With the enormous number of followers of her, there may be gold in everything she touches."

Although a total risk capital of US $ 310 million in its treasure chest is impressive for a young brand like Savage X Fenty, Victoria's Secret expects to finish 2022 with about US $ 6.8 billion in revenues, still dominating around 40%of the lingerie market.

"Victoria's Secret has been acclaimed as a dead brand despite its income of US $ 5 billion during the pandemic," says Simeon Siegel, capital investigation analyst Markets Capital."But he was not dead, only very sick and very big."He says that after his splitting of the Matrix L Brands last year, the global inherited brand is now positioned to respond to new market trends.

"Victoria's Secret is much healthier as a smaller brand, since we have seen how your earnings shoot."Instead of following luxury lines such as Agent Provocateur and La Perla, the Savage X Fenty movement towards the attractiveness of the Mass Market of Victoria's Secret has been evident since February, when LVMH and Rihanna closed the luxurious prêt-à-porter clothing lineFenty, as Forbes reported.

The locations of the first lingerie stores offer a look at Savage X Fenty's retail strategy, opting for the main shopping centers instead of high -end commercial areas such as Fifth Avenue in New York or the Miami Design District.

Pero Savage X Fenty no es el primero en traer toques de tecnología al juego íntimo. True & Co, Knix y Thirdlove, todos fundados alrededor de 2013, seguidos por el lanzamiento de Aerie y Lively, fueron pioneros en aprovechar los datos para la creación de prototipos inclusivos, así como cuestionarios en línea y herramientas digitales para un ajuste preciso.

Rihanna's goal with her lingerie company

Like its starting peers, Savage X Fenty also emphasizes body positivity.The fasteners come in more than 50 sizes, while sleeping clothes and lingerie are available in XS to XXXL sizes.

While many new fasteners such as Thirdlove and CUUP companies were also based on the idea of inclusive sizes, Co -President Pendarvis says that each fashionable piece, from their corsets of braces to the intricate lace stuffed peels, are manufactured in all sizes.

"Unlike other intimate clothing brands, Savage X Fenty fully adapts to both ends of the spectrum of sizes, from lady to more," says Pendarvis."We are not only going to offer 40% of the assortment to our customers with large sizes, we are going to offer everything, even that Catsuit without intent."

"The inclusion of the body is a real engine for many brands," says Kristen Classi-Zummo, fashion clothing analyst at NPD Group."It is important that consumers see themselves in the stores where they buy."

Before Savage X Fenty opened his first store, he trusted Emmy nominated for her fashion to transmit her message of diversity.Available for all customers through Amazon Prime, the events that can be purchased are doubled as performances full of stars with Bella Hadid, Travis Scott, Halsey, Big Sean, Lizzo and Paris Hilton, to name a few.Equally important are the hundreds of other models, a cast of all sizes, ages, sexual orientations and skin tones.

Simeon says that the adoption of ESG values (environmental, social and governance) is becoming a main current and a positive signal of times.But it's not enough."At the end of the day, this is a retail trade and telling a story of diversity is not enough," he says."The product still has to be a good product and has to resonate."

When it comes to resonating and generating enthusiasm, having Rihanna as a founder and executive director, so far, has made it very easy.Maybe it is also the leadership behind the scene."We are about trust and what it means to be sexy and beautiful," says Guzmán."No other brand leans towards the sensuality of the way we do it, no one has focused on the way we do."

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