American singer Rihanna reportedly owns the most expensive lingerie brand. According to a Forbes report, the Savage x Fenty Lingerie brand recently secured $115 million in Series B funding, with a total valuation of $1 billion. The funding was led by a private equity firm L Catterton.
In 2018, Rihanna launched her Savage x Fenty Lingerie brand, which is now one of several businesses started by the singer. She also has other lines under the brand like; Fenty’s clothing line, makeup range Fenty Beauty, and skincare line Fenty Skin.
Before the latest funding round, Rihanna’s estimated stake in the company was $85 million.
According to a company statement, the Savage x Fenty brand gained more than 200% revenue growth last year. It has “increased its active VIP member base by more than 150%.”
Rihanna gave an official joint statement to WWD, LVMH, she said:
“Following the completion of the fundraising round where L Catterton took a stake in Savage X Fenty, LVMH and Rihanna reaffirmed their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare, and lingerie.”