Rihanna skin lighter twitter11/9/2022 ![]() But like many luxury fashion brands, the high-priced line suffered during the pandemic, releasing its last collection in November 2020. Launched in 2019, Fenty sought to extend Rihanna’s brand of inclusivity and offer styles in a range of sizes. In February, LVMH and Rihanna confirmed in a statement to Forbes that they had shut down their other venture, a high-end fashion and accessories house also called Fenty. Not that everything Rihanna touches turns to gold. The latest round of funding will reportedly be used for customer acquisition and retail expansion. Rihanna maintains a 30% ownership stake, Forbes estimates. Catterton (in which Bernard Arnault is an investor) as shareholders. The company, which launched in 2018 as a joint venture with TechStyle Fashion Group, counts blue-chip investors like Jay-Z’s Marcy Venture Partners and private equity firm L. ![]() In February her lingerie line Savage x Fenty raised $115 million in funding at a $1 billion valuation. In its annual report for 2020, LVMH said Fenty Skin, which launched last year, was off to a “very promising start” and “generated unprecedented buzz,” and that Fenty Beauty "maintained its appeal as a premier makeup brand."įenty Beauty isn’t Rihanna’s only billion-dollar brand. And all signs point to the company continuing to grow. Thanks to the impressive multiples at which beauty companies are trading, Fenty Beauty is worth a conservative $2.8 billion, Forbes estimates. Meanwhile, independent brands like Beautycounter and Charlotte Tilbury inked deals with investment firms earlier this year at billion-dollar valuations. Stocks of larger beauty conglomerates like Estée Lauder and L'Oréal have bounced back, reaching all-time highs and trading at impressive 7.5 (or more) times annual revenues. While cosmetics sales slowed during the pandemic, beauty companies are worth as much as ever. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”Ī$AP Rocky and Rihanna are seen filming a music video in the Bronx on July 11, 2021. It was light, medium, medium dark, dark,” says Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors. “A lot of women felt there were no lines out there that catered to their skin tone. By 2018, its first full calendar year, the line was bringing in more than $550 million in annual revenues, according to LVMH, beating out other celebrity-founded brands like Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honest Co. ![]() Its products come in a diverse range of colors-foundation is offered in 50 shades, including harder-to-find darker shades for women of color-and are modeled in its advertising by an equally diverse group of people.Īvailable online and at Sephora stores, which are also owned by LVMH, the products were an instant success. Fenty Beauty, which is a 50-50 joint venture with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s second-richest person), launched in 2017 with the goal of inclusivity. While Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence-she has 101 million followers on Instagram and 102.5 million on Twitter-to build a beauty brand, she is the most successful beauty entrepreneur to do so. Much of the rest lies in her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from her career as a chart-topping musician and actress. The bulk of her fortune (an estimated $1.4 billion) comes from the value of Fenty Beauty, of which Forbes can now confirm she owns 50%. But it’s not her music that’s made her so wealthy. Rihanna is now worth $1.7 billion, Forbes estimates-making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer. ![]()
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