fbpx
Home Entertainment Rihanna breaks black women cosmetics record

Rihanna breaks black women cosmetics record

by Admin
Rihanna breaks black women cosmetics record

Rihanna breaks black women cosmetics record

Singer Rihanna has broken another special record as she becomes the first ever woman to own a cosmetics brand worth over $1 billion.

A round of Series B funding was recently completed for Savage X Fenty, raising $115million (£82.7m). The money will support the company’s growth and further expansion into retail.

One of the investors to put money into the brand during the funding round was L Catterton, a private equity firm that fashion house LVMH has a stake in.

The lingerie brand posted revenue growth of more than 200% last year, and “increased its active VIP member base by more than 150%,” according to a statement from the company. CultureBanx reported that Savage x Fenty is in a position to be the global lingerie market leader by 2025, the same year that women’s activewear is expected to reach a $216.9 billion value.

Rihanna’s brand has proven that diversity and inclusion in sizing, access, and marketing can lead to an even greater goal, equity in feeling sexy.

Related Articles