Rihanna’s net worth is $1.7 billionForbesAccording to estimates, she is the most successful female musician in the world. She also ranks second behind Oprah Winfrey for the richest female entertainer. It’s not her music that has made her so rich. Fenty Beauty is the largest source of her wealth (an estimated $1.4 trillion).ForbesShe now owns half of the stake. The rest is in her stakeSavage x Fenty, her lingerie business, is worth approximately $270 million. This includes her earnings as a chart-topping actress and musician.
Rihanna, a Barbados-born singer, isn’t alone in using her social media platform to build a brand. She has 101 million Instagram followers and 102.5 millions on Twitter. Fenty Beauty is a joint venture of LVMH and Fenty Beauty. It was founded in 2017 by Bernard Arnault (the world’s second richest person) with the aim to promote inclusion. The products are available in a variety of colors, including 50 shades of foundation for women of color. They also have harder-to-find shades for women of colour.
The products were immediately popular and available online as well as at Sephora stores which are also owned LVMH. The line had already generated more than $550m in annual revenue in its first year. This beat out other celebrity-founded brands such as Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty, and Jessica Alba’s Honest Co.
“A lot of women felt that there weren’t any lines that suited their skin tones.” It was medium, dark, medium dark, and dark,” Shannon Coyne (cofounder of Bluestock Advisors, a consumer products consulting firm). We all know this is not true. She was among the first brands to say, “I want to talk to all those people.”
Although cosmetics sales declined during the pandemics, beauty companies remain valuable. The stock prices of large beauty conglomerates such as Estee Lauder or L’Oreal have rebounded and now trade at an impressive 7.5 times annual revenue. Independent brands such as Beautycounter and Charlotte Tilbury signed deals with investment firms in the first quarter of this year, at billion-dollar valuations.
This is great news for Rihanna. Fenty Beauty’s conservative valuation is $2.8 billion due to the high multiples of beauty companies trading estimates. All indications point to continued growth. LVMH stated that Fenty Skin launched last year and had a “very promising start.” It also noted that Fenty Beauty has “maintained its appeal” as a top makeup brand.
Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February her lingerie line Savage x Fenty raised $115 million in funding at a $1 billion valuation. The company, which launched in 2018 as a joint venture with TechStyle Fashion Group, counts blue-chip investors like Jay-Z’s Marcy Venture Partners and private equity firm L. Catterton (in which Bernard Arnault is an investor) as shareholders. Forbesestimates. Rihanna still owns 30% of the company. According to reports, the latest round of funding will be used for customer acquisitions and expansion.
Rihanna’s touch doesn’t always turn to gold. Forbes received a statement from LVMH in February confirming that Rihanna and Rihanna had closed down Fenty, their other venture. Fenty was a high-end accessories and fashion house. Fenty was launched in 2019 and aimed to expand Rihanna’s inclusive brand by offering styles in a variety of sizes. The luxury brand suffered from the pandemic and released its final collection in November 2020.
One complaint fans might have is her career as a fashion mogul and beauty mogul. It keeps her busy. Since Anti (2016), the singer, who used release albums almost every year, has not released a new album. __S.40__
Financially, this may be fine. Consultant Coyne says it’s not about Rihanna. “Even though you may not like her music, she has created a real style within the fashion and beauty industry.”
