Not only is Rihanna is a talented singer, humanitarian, and a national hero in her native Barbados, she’s also an incredibly savvy entrepreneur who has just raised a lot more money for one of her ventures. Rihanna’s Savage X Fenty lingerie brand — which emphasizes inclusivity, body positivity, and confidence — just raised $125 million in their Series C round of investing.
— Savage X Fenty by Rihanna (@SavageXFenty) January 28, 2022
This comes shortly after Savage X Fenty opened its first retail location this month, at the Fashion Show Mall on the Las Vegas strip. As Forbes reports, opening physical locations is the big push in 2022 for the surging company, which plans to open four more stores in the first quarter of 2022, “in Culver City in Los Angeles (where the company is based), followed by the Galleria Mall in Houston, the King of Prussia Mall outside Philadelphia and Pentagon City’s Fashion Centre in Arlington, Virginia.”
This new round of funding was led by Neuberger Berman, but there were a number of other private investors in the mix as well, including Jay-Z’s Marcy Venture Partners VC firm. Savage X Fenty has now raised a total of $310 million in capital. Rihanna, meanwhile, has a reported net worth of over $1.7 billion (well over $1 billion of which comes from here Fenty Beauty cosmetics line), second only to Oprah as the wealthiest female in the entertainment industry.