El Segundo, California-based Savage X Fenty presented at the ICR 2002 retail conference where it lifted the curtain on customer demographics along with information on how it maximizes influencer-centered marketing efforts. The brand’s first time appearance at the investor event follows last year’s $115 million in series B funding led by LVMH-backed private equity firm L Catterton to help the lingerie brand expand.
Launched in 2018 with TechStyle, the brand became a stand-alone company at the end of 2019. While the company didn’t release revenue or profit figures at the event, Savage X Fenty co-president Christiane Pendarvis described the company as a disruptor gaining share within the category. According to coverage by WWD, Pendarvis added, “The growth that you see with brands like Savage are really outpacing the balance of the more established players within this industry.”
The presentation was preceded by news from CEO Robyn Rihanna Fenty who took to social media last week to announce the brand will open five physical stores over the next year, starting with a store in Las Vegas. Bucking traditional methods of opening stores, Savage X Fenty is opening stores where it already boasts a high density of existing VIP customers.
Commenting on the brand’s diverse customer base, Savage X Fenty Natalie Guzman, co-president and chief marketing officer explained, “Primarily, it’s been women who are young and very diverse.” Guzman went on to describe the customer as averaging 33 years of age, with 65 percent of shoppers between ages 18 and 35. Demographically, customers are 35 percent Black, 30 percent white and 20 percent Latina. Guzman described customer income as moderate with Savage X Fenty claiming 50 percent of her intimates wallet share.
Well known for the marketing power of its famous CEO, the brand has maximized its reach by gaining access to advertise on brand ambassadors and influencers’ social media accounts. Noting that the brand makes use of a wide range of influencers, Guzman added, “In the top two tiers [of influencers] alone, we’re getting massive reach. Over 245 million [followers] in total. And when you add in that bottom tier, which is over 1,000 micro-influencers that we work with on a monthly basis, this is really giving us that opportunity to appeal to so many different types of women, or individuals in general, now that we’ve expanded into men’s and really go after that [total available market.]”
The company also has plans to expand into new categories with loungewear, swimwear, shapewear, home and unisex underwear cited as commonly requested by customers.