Rihanna’s Savage X Fenty Raises $125 Million In New Funding
Robin Rihanna Fenty, the multi talented Barbadian entrepreneur, known best for her multi platinum selling music career, has raised $125 million for Savage X Fenty brand.
The new funding will help the brand finance its move into brick-and-mortar retailing. A plan which the company announced in 2021.
Savage X Fenty has disrupted the lingerie industry with it’s accessible, inclusive lingerie and branding.
- With this new round of funding, the company has raised a total of $310 million.
- The latest funding will support the fashion company’s foray into brick-and-mortar retail, plans to expand overseas and the launch of new product lines.
- Savage X Fenty’s first boutique was recently opened at the Fashion Show Mall on the Las Vegas Strip.
- The company further plans on opening four more stores in the first quarter of 2022 and a total of ten by the end of the year, according to Savage X Fenty co-presidents Christiane Pendarvis and Natalie Guzman.
Previous investors L Catterton (a private equity firm backed by LVMH’s Bernard Arnault), Avenir, Sunley House Capital, and Marcy Venture Partners (the VC firm co-founded by Jay-Z) also participated in the Series C. Rihanna reportedly hold a 30% stake in the Savage brand.
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