FASHION, culture and private equity have collided with Rihanna’s successful Savage x Fenty hitting another major milestone by raising its $115 million Series B funding round, at a $1 billion valuation.
Private equity firm L Catterton, in which LVMH has a stake in helped the brand secure this bag for its upcoming retail expansion, and to funnel it into a line of athletic wear.
Rihanna’s umbrella (ella, ella) of product lines under her Fenty brand have been extremely successful, with her lingerie brand sitting squarely at the center of business and culture in the $13.1 billion U.S. women’s underwear sector, leaving Savage x Fenty partner LVMH to completely lean in on her diverse business model.
The Breakdown You Need To Know:
The lingerie brand posted revenue growth of more than 200% last year, and “increased its active VIP member base by more than 150%,” according to a statement from the
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