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Lingerie

Rihanna Is Seeking $100M To Expand Savage X Fenty

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December 15, 2020. Leave a Comment

California-based lingerie line Savage x Fenty lead by CEO Robyn Rihanna Fenty is on a growth path with news the company has hired Goldman Sachs to raise $100 million to expand offerings.

The new comes via NY Times, which speculated the push for extra cash will be used to expand the brand into new regions like Europe and add new categories like athletic–inspired casual clothing.

Savage X Fenty is now generating annual revenue of $150 million but is not yet profitable. While the company’s value isn’t publicly available, the NY Times estimated its worth to be around $1 billion.

Launched in 2018, Savage x Fenty is a joint venture between Rihanna and and Techstyle Fashion Group, an online oriented manufacturer whose stable of brands includes Fabletics and ShoeDazzle. 

The company received an injection of $50 million in cash in August 2019. Money flowed in from Shawn Carter‘s venture firm Marcy Venture Partners as well as investment firm Avenir Growth Capital. At the time, the new investment brought Savage X Fenty’s total backing up to approximately $70 million. 

Lingerie Rihanna Savage X Fenty Jay-Z

Official statement from Earl “DMX” Simmons’ Official statement from Earl “DMX” Simmons’ family: “We are deeply saddened to announce today that our loved one, DMX, birth name of Earl Simmons, passed away at 50-years-old at White Plains Hospital with his family by his side after being placed on life support for the past few days. Earl was a warrior who fought till the very end. He loved his family with all of his heart and we cherish the times we spent with him. Earl’s music inspired countless fans across the world and his iconic legacy will live on forever. We appreciate all of the love and support during this incredibly difficult time. Please respect our privacy as we grieve the loss of our brother, father, uncle and the man the world knew as DMX. We will share information about his memorial service once details are finalized.” 

May this incredible man rest in peace. 

Photo credits: Images No. 1 and 3: Jonathan Mannion; image No. 2: @shotbyjacques
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Thoughts?
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Also, raise your hand if you've been personally victimized by low-rise jeans.

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