Rihanna’s Savage X Fenty has been a huge success with consumers within a very short period of time. The artist is now planning to expand her brand to cater to the rising demand.
The New York Post reported that Savage X Fenty is preparing for a massive expansion that will see the lingerie brand opening 10 store locations throughout this year. The company has raised $125M in a new funding from investors.
Within the next three months, the lingerie brand plans to open stores in Los Angeles, Houston, Philadelphia and Virginia with a total of 10 store openings across the country. Just earlier this month, Savage X Fenty opened a location on the Las Vegas Strip.
In a recent interview with Forbes, Savage X Fenty’s co-president Christiane Pendarvis discussed the brand’s future plans. Pendarvis told the outlet, “We’ll start with a limited amount of stores,” She added “It will represent a small percentage of our business. This is about making sure we’re getting the right formula and assortment mix in stores.”
The list of investors joining Rihanna in her new business venture include Neuberger Berman, L Catteron and Macy Venture Partners, a firm co-founded by music legend Jay-Z. Savage X Fenty has become the primary focus for Rihanna since 2018, the brand has sky-rocketed the singer’s net worth to $1.7 billion.
You can check out a sneak-peek of Savage X Fenty’s store setup below.
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