Superstar entrepreneur Rihanna is formally a billionaire. The founding father of Fenty and Fenty Magnificence has a web value of US$1.7 billion. With this new valuation, she is now the wealthiest feminine musician whereas trailing behind Oprah Winfrey because the second richest entertainer.
An estimated US$1.4 billion of her wealth is attributed to her extremely profitable magnificence firm, Fenty Magnificence, which charted a brand new norm within the trade, according to Forbes. The celebrated model is lauded for providing the widest collection of shades. The Professional Filt’R basis was launched in 2017 and is now the gold commonplace relating to inclusivity throughout pores and skin tones and gender within the magnificence trade.
The wonder model was a three way partnership with LVMH the place each Rihanna and the French luxurious conglomerate every maintain a 50 per cent stake within the enterprise. Fenty Magnificence merchandise can be found on-line and in shops at Sephora (which can also be owned by LVMH), and it was reported that the wonder line raked in additional than US$550 million a yr after launch. Rivals from different celebrity-fronted manufacturers comparable to Kylie Jenner’s Kylie Cosmetics and Kim Kardashian West’s KKW Magnificence pale compared to Rihanna’s model. Forbes estimates that Fenty Magnificence is value US$2.8 billion.
The remaining of Rihanna’s fortunes stem from her trend traces: Fenty and Savage x Fenty. The high-end trend label Fenty was launched in 2019 with LVMH and sought to hold on the mogul’s name for inclusivity. Nevertheless, the label didn’t carry out as anticipated and needed to be shut down — the final assortment was launched in November 2020.
The Victoria’s Secret Vogue Present is touted to be one of the vital profitable lingerie runway exhibits round earlier than it stopped due to the various controversies. And in recognising the hole available in the market and the shift in how ladies view themselves, Savage x Fenty was arrange. The model ushered in a brand new period for the sector and its trend present is a star-studded affair involving celebrities and fashions.
The acclaimed lingerie line has managed to boost US$155 million in funding and the model is estimated to be value US$1 billion. Launched in 2018, it has the backing of L Catterton (Bernard Arnault is an investor) and Jay-Z’s Marcy Enterprise Companions. Presently, Rihanna owns 30 per cent of the shares of the model.
Rihanna’s roaring success throughout the magnificence and trend trade is little question a celebration of her entrepreneurial spirit. Constructing these companies has, nonetheless, taken her away from music. Her final album Anti was launched in 2016 and plenty of followers are hoping for her to make a comeback. Until now, the Grammy-winning singer has but to reveal any plans relating to her music profession.
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