Rihanna's Savage X Fenty Is Looking to Expand Into Athletic Wear
The brand might also land in Europe.
According to intel provided to the The New York Times, Rihanna‘s Savage X Fenty has hired Goldman Sachs to raise $100 million USD in funding. The money will reportedly be used to help the lingerie brand try its hand at athletic wear, as well as expand into Europe.
Rihanna launched Savage X Fenty in 2018 and since then, its smash success has sparked a veritable transformation of the lingerie industry. Customers have pivoted from Victoria’s Secret and its glossy, male-gaze marketing to the inclusive, sex-positive messaging that Savage X Fenty and other rising underwear brands — such as Parade — build their brands upon. Though Savage X Fenty is not yet profitable, it generates approximately $150 million USD in revenue. The brand is rumored to be seeking a valuation of $1 billion USD.
- Source
- The New York Times
