Rocking it up like no other is pop queen Rihanna! The singer turned entrepreneur launched her much-acclaimed lingerie brand Savage X Fenty in 2018, and since then, there has been no looking back for her in the fashion space. After modeling for the exclusive line and even releasing a full-fledged show on it, the diva is now looking to expand the brand’s presence across the globe.
To support her vision, Rihanna is looking to raise as much as $100 million in funding, helping grow the lingerie brand into the athletic wear vertical with plans to expand across Europe. The label generates roughly $150 million in revenue but is yet to become profitable.
While Rihanna fans have majorly loved Savage X Fenty, it has garnered much praise in general for the brand’s focus on bringing inclusivity in fashion. It offers lingerie in sizes up to 3X and includes “nude” color options for its apparel in a wide range of hues.
The label has so far received funding (grossing up to $70 million) from the likes of ACME Capital, Avenir Growth Capital, TriplePoint Ventures, and Jay-Z‘s own venture capital firm Marcy Venture Partners, in the past. Perceivably then, Rihanna’s future funding plans also appear to be bright and bold, much like her persona!
[Via: Business Insider]