After her cosmetics brand Fenty Beauty made her a billionaire last year, Rihanna’s stands to make just under another billion dollars from her lingerie company Savage by Fenty.
The firm is mulling a $3 billion public listing, which could happen sometime this year according to a Bloomberg report. Rihanna, who founded and serves as creative director and CEO of the brand, holds a 30% stake in the body-positive underwear line.
What she would net from a Savage IPO is not far behind the $1.4 billion she’s already earned from her LVMH-backed cosmetics venture, according to Forbes. She currently ranks 16th on a Forbes list of America’s richest self-made women.
Rihanna’s inclusive and diverse approach has driven her success. Fenty Beauty, for instance, carries over 40 shades in its foundation collection, while Savage X Fenty celebrates bodies of all shapes and sizes. Fans of the Barbadian celebrity have also voiced their desire for her to design a maternity line, after learning in January that she is expecting her first child with rapper A$AP Rocky.
Not all of Rihanna’s ventures have gone according to plan, however. Her designer fashion attempt with LVMH was put on hold indefinitely as it struggled to stand out and spending on trendy fashion slowed down during the pandemic.
Women-led brands shaking up lingerie
For decades, the women’s lingerie space was dominated by Victoria’s Secret. But changing cultural mores spurred by the #MeToo movement and the company’s association to serial sexual predator Jeffrey Epstein has forced the company to revamp itself.
Lingerie in general has been a goldmine for women in business. Sara Blakely became the youngest self-made female billionaire in 2012 with her Spanx underwear line. Meanwhile, Kim Kardashian’s Skims business doubled its valuation to $3.2 billion in January.