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Rihannas Savage X Fenty lingerie line worth $ 1 billion

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The Rihannas Savage X Fenty lingerie line is now worth $ 1 billion. According to Forbes, the company saw sales growth of over 200% last year. There was also a 150% increase in the number of active VIP members. The line plans to expand into retail and recently raised $ 115 million through a Series B funding round.

In just two years, Savage X Fenty has achieved remarkable success in disrupting the intimate category, Jon Owsley, co-associate director of L Cattertons Growth Fund, said. The brand achieves a unique balance of affordability, fashion and comfort, deeply champions inclusiveness and diversity, and has differentiated itself by creating an extraordinary level of affinity and unmatched customer loyalty.

He continued: We believe the opportunities ahead for Savage X Fenty are huge and we look forward to leveraging our extensive experience in scaling digital consumer brands and partnering with Rihanna, Christiane, Natalie. and the entire Savage X Fenty team to help the Company realize its full potential.

Last year, REVOLT reported that singer Needed Me hired investment bankers Goldman Sachs to raise funds, which were used to branch out into activewear and strengthen lingerie lines’ presence in Europe. As part of her fundraising request, Rihanna also sought to maintain full control of her brand.

Savage X Fenty debuted in 2018. Fans praised the exclusivity of the lingerie line, designed for all shapes and sizes. The brand is now planning to venture into sportswear and further expand into men’s fashion. Rih kicked off the men’s line during her last Savage X Fenty show, which took place in October.

I wanted to create styles of men’s clothing that anyone can wear, Rihanna previously said. And after Christian (Combs) did such a great job at the 2019 fashion show with men, I knew we had to have him as a collaborator.

Congratulations to Rihanna on her immense accomplishment.

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