Robyn Fenty was known as Rihanna and launched Fenty Beauty in 2017. She wanted to create a cosmetics business that would make women feel beautiful everywhere. Included “An unintended consequence? Her beauty line has allowed her to enter one of the most prestigious beauty salons in the world. Exclusive ranks: Billionaire.
Forbes estimates that Rihanna now has a net worth of $1.7 billion. This makes her the most successful female singer globally and second only Oprah Winfrey for the richest female entertainer. Of course, it’s not her music. However, that has made her so rich. Her Fortune, estimated at $1.4 billion, comes mainly from Fenty Beauty’s value. Forbes can now confirm that she holds 50%. The rest of her Fortune is mainly in her stake in Savage x Fenty lingerie, valued at $270 million. Also, her earnings as an actress and chart-topping singer.
How Rihanna manages such success.
Rihanna, a Barbados-born singer, isn’t alone in using her social media platform to build a brand. She has 101 million Instagram followers and 102.5 million on Twitter. Fenty Beauty is a joint venture of LVMH and Fenty Beauty. It was founded in 2017 by Bernard Arnault (the world’s second-richest person) to promote inclusion. The products are available in various colors, including 50 shades of foundation for women of color. They also have harder-to-find shades for women of color.
The products were immediately popular and available online and at Sephora stores which LVMH also owns. The line had already generated more than $550m in annual revenue in its first year. This beat out other celebrity-founded brands such as Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty, and Jessica Alba’s Honest Co.
“A lot of women felt that there weren’t any lines that suited their skin tones.” It was medium, dark, medium-dark, and dark,” Shannon Coyne (cofounder of Bluestock Advisors, a consumer products consulting firm). But, of course, we all know this is not true. So she was the first brand to say, “I want to talk to all those people.”
Although cosmetics sales declined during the pandemics, beauty companies remain valuable. The stock prices of large beauty conglomerates such as Estee Lauder or L’Oreal have rebounded and now trade at an impressive 7.5 times annual revenue. In addition, independent brands such as Beautycounter and Charlotte Tilbury signed deals with investment firms in the first quarter of this year at billion-dollar valuations.
This is excellent news for Rihanna. Fenty Beauty’s conservative valuation is $2.8 billion due to the high multiples of beauty companies trading estimates. All indications point to continued growth. LVMH stated that Fenty Skin launched last year and had an “auspicious start.” It also noted that Fenty Beauty has “maintained its appeal” as a top makeup brand.
Brand and its valuation
Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February, Fenty Beauty’s lingerie line Savage x Fenty was valued at $1 billion. Blue-chip investors such as Jay-Z’s Marcy Venture Partners, and L. Catterton, in which Bernard Arnault is an investment, are among the company’s shareholders. It was launched in 2018 as a joint venture between TechStyle Fashion Group. Forbes estimates. Rihanna still owns 30% of the company. According to reports, the latest round of funding will be used for customer acquisitions and expansion.
Rihanna’s touch doesn’t always make it a success. In February, LVMH, Rihanna, and Rihanna announced in a statement to Fortune they had closed their other venture, Fenty, high-end accessories and fashion house. Fenty was launched in 2019 to expand Rihanna’s inclusive brand and offer styles in various sizes. Unfortunately, the luxury brand suffered from the pandemic and released its final collection in November 2020.
Complaints and Conclusion
One complaint fans might have her career as a fashion mogul and beauty mogul. It keeps her busy. Since Anti (2016), the singer, who used release albums almost every year, hasn’t released a new album.
Financially, this may be fine. Consultant Coyne says it’s not about Rihanna. “Even though you may not like her music, she has created a real style within the fashion and beauty industry.
Even Time magazine featured Fenty Beauty as one of “The 25 Best Inventions of 2017“, citing the breadth of its range.
You might also like to see the story of Huda Kattan and her brand Huda Beauty. Click here to see Huda’s story!
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