Rihanna’s Savage X Fenty lingerie line is now worth US$1 billion! That’s right, billion with a ‘b’.
The star’s line hit the milestone after a new round of fundng raised US$115 million as Savage plans to expand into retail.
The inclusive lingerie line saw its revenue increase more than 200% last year, and increased its active VIP member base by more than 150%,” according to a statement from the company.
The Pour It Up singer’s partnership with luxury giant LVMH will see it focus on the growth and long-term development of the Fenty ecosystem, the statement continued, adding that focus will be placed on its cosmetics, skincare and lingerie lines.
It was only last week that LVMH confirmed that the Fenty fashion will be put on hold after two years of operation.