As reported by Forbes, the major milestone follows a round of Series B funding that raised $115 million for the company’s upcoming retail and activewear expansion — led by private equity firm L Catterton, in which Rihanna collaborator LVMH has a stake.
Celebrated for its inclusive sizing and marketing, Savage X Fenty saw 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.
The lingerie line has raised $185 million to date, and Forbes estimated the pop star’s stake to be worth about $80 million before the most recent funding round.
This news comes one week after LVMH and Rihanna, 32, announced they were shutting down her luxury Fenty label “to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare and lingerie.”
Savage X Fenty’s valuation almost seems small compared to that of Rihanna’s Fenty Beauty brand, which launched in 2017 and swiftly disrupted the market with its diverse shade offerings.
Per Forbes, the makeup company generated $558 million in its first full year in operation — and made Rihanna the world’s wealthiest female musician. In 2019, the publication placed Fenty Beauty’s valuation at more than $3 billion.