Photo: Getty
  /  01.28.2022

Rihanna’s lingerie line, Savage X Fenty, has secured $125 million in a Series C fundraising round led by investment firm Neuberger Berman. L Catterton — a private equity firm backed by LVMH’s Bernard Arnault  — Avenir, Sunley House Capital, Advent International, LionTree and Marcy Venture Partners — which is cofounded by JAY-Z — were among the other investors to participate in the funding round.

Savage X Fenty now has a total cash haul of $310 million, according to the Associated Press. The money will assist in the brand‘s development of retail stores as well as its launch of new products.

After three years in business, Christiane Pendarvis, chief marketing and design officer of Savage X Fenty, announced that consumers in the U.S., particularly those “who don’t feel comfortable purchasing online,” would have the option to shop in physical stores in 2022. Months later, Rihanna took to Instagram to confirm the news.

“2022, we coming in HOT!” she captioned alongside a picture of one of the stores. “We bout to bring you a whole new #SavageXFenty experience with the launch of our brick-and-mortar retail stores!” The first location officially opened this week.

According to Fox Business, the Savage X Fenty lingerie store at the Fashion Show Las Vegas mall has five rooms that feature merchandise and mannequins of various body types. The store will also offer interactive experiences” and “photo-worthy moments” to its customers.

“We wanted to be able to connect with our customers in real life and give them something they have never seen before,” the ANTI singer said in a statement. “Creating the space took a lot of imagination, married with things I’ve always wanted to change about my own experiences as a customer, from mannequins to the Fit Xperience, to customer service. We are so happy with the outcome and now I can’t wait for people to see it.”

 

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