Rihanna’s Savage X Fenty is having a successful year so far.
The lingerie brand raised $125 million through a Series C funding round in January.
This raised its total venture capital funding to a crisp $310 million.
There was participation from big shots like Sunley House Capital, Jay-Z’s Marcy Venture Partners, L Catterton, and Neuberger Berman during this round.
According to the brand’s co-presidents, Natalie Guzaman and Christiane Pendarvis, this funding aims to give Savage X Fenty retail domination.
Constant Evolution
The brand continues to evolve even as Rihanna apparently wants to take it public.
According to Bloomberg, the singer and entrepreneur has been working with advisers to develop an initial public offering.
If things go as planned, the value of Savage X Fenty could rise to an eye-watering $3 billion, if not more.
This would, of course, make Rihanna one of the wealthiest entertainers on Earth.
The brand is currently working with companies like Morgan Stanley and Goldman Sachs Group Inc.
The public listing might go out this year.
However, Rihanna has not spoken about it publicly yet.
Remember, she still has a baby to look forward to now.
The Rise and Rise of Savage X Fenty
In just a short period, the brand has exploded in growth.
It started out as an online-only brand but recently had a grand retail opening in Las Vegas.
By the end of 2022, Savage X Fenty plans to have more brick-and-mortar stores in Philadelphia, Washington D.C., Houston, and Los Angeles.
In a statement, Rihanna revealed that she is opening physical stores because she wants to establish a real-life connection with her customers.
She also wants to give them an experience they have not had before.
This means changing everything from the customer experience to the mannequins and Fit Xperience.
With the rapid rise of Savage X Fenty, it is sure to become a much bigger name when it goes public.
