Rihanna has fans of her music hanging for quite some time with her most recent full-length project releasing a few years ago. However, it appears it was for good reason as Rih shifted focus from music onto her makeup and lingerie empire. That’s probably the proper descriptor considering that Savage x Fenty is reportedly worth $1 billion.
The news of Savage x Fenty’s valuation surfaced following a round of Series B funding that was recently completed for Savage X Fenty which raised $115million. Those funds are expected to help the brand expand into retails stores and develop an athletic wear line.
“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,” said Rihanna and LVMH in a joint statement.