/  12.18.2020

Rihanna is continuing to grow her Savage X Fenty empire. According to reports, the singer, songwriter and fashion mogul is currently seeking $100 million in funding to expand her brand into activewear.

According to WWD and The New York Times’ DealBook newsletter, Rihanna hired investment bankers Goldman Sachs to raise the new round of funding, which will be used to branch into athletic-wear and bolster Savage X Fenty’s presence in Europe. As part of her funding request, the ANTI singer is also seeking to maintain full control of her brand.

Founded in 2018, Savage X Fenty has already raised over $70 million to date, with funding from JAY-Z’s venture capital firm, Marcy Venture Partners; ACME Capital; TriplePoint Ventures and Avenir Growth Capital.

WWD reports that with the new round of funding and expansion into activewear, Rihanna’s brand could become valued at around $1 billion.

While Rihanna’s superstardom has certainly bolstered Savage X Fenty’s success, the lingerie brand has also become well-known for its inclusivity.

In October, Rihanna shared her Savage x Fenty Vol. 2 fashion show exclusively through Amazon Prime. The event was praised for its diverse cast of models and celebrity entertainers, including Willow Smith, Miguel, Normani, Lizzo, Big Sean, Travis Scott, Rosalía and Roddy Ricch.

The brand’s upcoming venture into activewear also follows its expansion into menswear. Rihanna used her Savage X Fenty fashion show to launch her new men’s line, which was created in partnership with Christian Combs.

“I wanted to create men’s wear styles that everyone can wear,” Rihanna said in a statement at the time. “And after Christian did such a great job at the 2019 fashion show wearing men’s, I knew we had to have him as a collaborator.”

In other Fenty news, Rihanna also recently announced that her makeup company, Fenty Beauty, will be launching a powder version of the brand’s Pro Filt’r Foundation line. On Instagram, RiRi revealed that the new product will hit stores next week.


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