Rihanna’s Savage X Fenty expanding into activewear
The multi-hyphen is seeking $100 million in funding for the venture and will maintain full control of the brand.
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.
YOU MIGHT ALSO LIKE
Below, our gift guide highlights some of our favorite Walmart finds for anyone in need of a home refresh.
On Oct. 10, Walmart unveiled a brand new, state of the art creative studio on the campus of Central State University.
“REVOLT Black News” correspondent Kennedy Rue counts down the top five moments from the 2023 Billboard Music Awards, including surprising wins, historic firsts, and dope performances. Sponsored by Amazon.
The Walmart HBCU Black & Unlimited Tour made its final stop at Mississippi Valley State University (MVSU) and left a lasting impact on students and alumni alike.
Check out our gift guide that highlights some of our favorite Walmart finds in time for Black Friday.
After unveiling their state of the art creative studio on the campus of Central State University, Walmart brought the HBCU Black & Unlimited Tour to Virginia State University (VSU) on Oct. 13.
Walmart HBCU Black & Unlimited Tour brings attention and wisdom to North Carolina Central University
On Oct. 17, Walmart brought the third stop of the HBCU Black & Unlimited Tour to North Carolina Central University (NCCU).
In October, Walmart unveiled a brand new, state of the art creative studio on the campus of Central State University. The HBCU located in Wilberforce, OH was the first stop on Walmart’s Black and Unlimited HBCU Tour.
Groovey Lew on hip hop style, Johnell Young's industry secrets, BGS salon's wig mastery and more | 'Black Girl Stuff'
Fashion King Groovey Lew on masterminding hip-hop’s most iconic looks. Actor Johnell Young reveals the secret to breaking into the entertainment industry. Celebrity hairstylist Dontay Savoy and got2B ambassador Tokyo Stylez are in the BGS Salon with the perfect wig install. Plus, comedian Lauren Knight performs.
On this all-new episode of “On In 5,” multitalented Nigerian artist Pheelz opens up about waiting for his opportunity to fully express himself through music, his inspirations and emotions, and the musical icons he grew up admiring. Watch!
Kareem Cook talks growing up in The Bronx, studying at Duke & networking | 'The Blackprint with Detavio Samuels'
On this all-new episode of “The Blackprint with Detavio Samuels,” the host and REVOLT CEO sits down with Kareem Cook. Throughout the introspective episode, Cook talks growing up in The Bronx, studying at Duke and being nervous to be in the South at the time, network vs. education, taking advantage of your opportunities, and connecting with Debbie Allen. Watch!
Tiffany Haddish on therapy, wild fan interactions & the upcoming 'Haunted Mansion' movie | 'The Jason Lee Show'
On this all-new episode of “The Jason Lee Show,” the one and only Tiffany Haddish sits for a must-watch conversation about wild interactions with fans, her new movie ‘Haunted Mansion,’ bringing her therapist on dates, and being present. Watch the hilarious interview here.
For this all-new episode of “On In 5,” singer-songwriter BNXN discusses his journey from IT to music, finding his voice and originality, linking up with Wizkid for their hits “Mood” and “Many Ways,” and what fans can expect from him this year — including a new album. Watch the full episode here!
This is the inspiring story of Karen Washington, a pioneering urban farmer who has been revolutionizing urban spaces by transforming them into vibrant community gardens and educational hubs. Sponsored by State Farm.
Lauren London sparks conversation on how Black parents unintentionally give kids negative outlook on money
At the live taping of “Assets Over Liabilities” at REVOLT WORLD, Lauren London opened up about how witnessing the financial decisions adults made during her childhood fueled her outlook on money.
“Every time I’m in trouble, it’s been Black men that have come to my aid,” Madam DA Fani Willis said at REVOLT WORLD while speaking on the stereotype that they are not dependable or worth dating.
Black media leaders stress the space's importance because we're always antagonists in mainstream's storytelling
“I definitely feel those ‘heavier is the crown’ moments. But I also believe that Black entrepreneurs are uniquely positioned to be successful in the future,” Detavio Samuels said at AfroTech.