While many of us are still holding out hope for new music from Rihanna, the superstar has been incredibly busy building a business empire that’s rewriting the rules. She’s not just a chart-topping artist; she’s now officially the first Black woman to create two separate companies valued at over $1 billion each. Talk about making history!
The Fenty Effect: Revolutionizing Beauty
Rihanna’s journey from Barbados to global icon is a testament to her vision. She saw what the beauty and fashion industries were overlooking: inclusivity. Fenty Beauty, launched in 2017, arrived with a groundbreaking range of foundation shades designed for a diverse array of skin tones. The impact was immediate and seismic.
During its opening month, Fenty Beauty generated an impressive $72 million in earned media value, and within just 40 days, it hit $100 million in sales. By the end of 2018, the brand had amassed nearly $573 million. Vogue even coined the term ‘The Fenty Effect’ to describe the industry-wide shift towards brands launching with a minimum of 40 foundation shades. It wasn’t long before Fenty Beauty was recognized by Time magazine as one of the ‘Inventions of the Year’ and valued in the billions, thanks to a strategic partnership with LVMH.
Savage X Fenty: Redefining Lingerie
Rihanna didn’t stop at beauty; she turned her attention to the lingerie industry, which she felt was still catering to a narrow demographic – primarily thin and white models. While brands like Victoria’s Secret focused on fantasy, Rihanna recognized that ‘real women,’ especially those who are plus-size, were looking for representation elsewhere.
In 2018, she launched Savage X Fenty with a focus on size inclusivity and diverse representation, partnering with TechStyle Fashion Group. The debut collection sold out in less than 30 days, with the company reporting over 200% revenue growth and a 150% increase in its active VIP member base. The message was clear: women were craving lingerie that truly reflected them.
An Empire Built on Inclusivity
Savage X Fenty continued its expansion, securing significant investments and solidifying its position in the market. Although Rihanna transitioned from the CEO role in 2023, she remains as executive chair, continuing to shape the Fenty portfolio, which now includes Fenty Skin and Fenty Hair. Together, Fenty Beauty and Savage X Fenty boast a combined valuation exceeding $3 billion.
So, while we might not be getting that album anytime soon, watching Rihanna build two billion-dollar companies by betting on what the beauty and fashion industries had long ignored is arguably even more inspiring. She didn’t just enter these markets; she fundamentally changed them.
What’s your favorite Fenty product? Do you think Rihanna’s business ventures are more impactful than her music career? Share your thoughts in the comments below!
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