Robyn Fenty’s Fortune: Rihanna Is Now Officially became A Billionaire
How the famous singer, Robyn Fenty known as Rihanna became the richest female musician on the planet. But She was not crossed this milestone with her performance..
When Rihanna real name Robyn Fenty, began Fenty Beauty in 2017, she wished to create a cosmetics company that made “women everywhere (feel) included.” A perhaps unexpected results: The beauty line has assisted her to reach at one of the world’s most exclusive ranks: Billionaire.
Now Rihanna (5ft 8inches tall) by birth name is Robyn Fenty's net worth $1.7 billion, a famous website shows values—declaring her the wealthiest ever female musician/singer in the world and 2nd only to Oprah Winfrey as the richest female entertainer.Music field that’s made her so rich and wealthy not other than. The volume of her fortune ( values $1.4 billion) links with the value of Fenty Beauty(FB) her beauty brand, of which our website can now confirm she owns 50% share. Savage x Fenty, neth worth an valued $270 million, and her earnings from her impressive career as a chart-topping musician and actress.
Rihanna by birth of Barbados is among those actors/ celebrities to take advantage of their social media presence—she has 101 million followers on famous platform of Instagram and 102.5 million on Twitter—to launch a beauty brand, she is the most ever successful beauty entrepreneur to do so. Fenty Beauty Brand, having 50/50 percent share with French luxury goods conglomerate LVMH (run by Bernard Arnault, the world’s 2nd-richest person), launched in 2017 with the goal of the practice of providing equal access . Its products come in a different range of colors— face foundation is offered in more than 50 shades, including difficult /harder-to-find darker shades for women of color—and are modeled in its advertising by an equally different group of people.
Easily approachable and available online and at Sephora stores, the owner of which is LVMH, the products ere an instant success. By 2018, full year, the line was generated more than $550 million in annual revenues, according to LVMH, beating out in competition other celebrity-founded brands like Kim Kardashian West’s (K.K.W) KKW Beauty,Kylie Jenner’s(KJ) Kylie Cosmetics and Jessica Alba’s Honest Co.
Thousands of women felt there were no lines out there that feed to their skin tone. We all aware that’s not fact. She was one of the 1st brands that came out and said, ‘I wish to speak to all of those different people.’
While cosmetics sales got down during the pandemic Covid-19, beauty companies are value as much as ever. Stocks of larger beauty brand multiple like Estée Lauder and L'Oréal have gone in fast progress, reaching all-time highs and trading at impressive 7.5 (or more) times annual revenues. Meanwhile, independent larger beauty brands as Beauty Counter (BC) and Charlotte Tilbury(CT) inked deals with investment firms earlier this year at billion-dollar valuations.
That is good latest news for Rihanna. Multiple products in which larger beauty brands are generally trading, Fenty Beauty is worth a conservative $2.8 billion, a famous website values. And all indication point to the company progressing to grow.
Fenty Beauty isn’t Rihanna’s only billion-dollar brand. In February her ladies undergarment line Savage x Fenty grew $115 million in funding at a $1 billion estimation. The largest beauty brand, which introduced in 2018 as share with Tech Style Fashion Group(TSFG), counts blue-chip investors like Jay-Z’s Marcy Venture Partners and private equity firm L. Catterton in which shareholder is Arnault . Rihanna have a 30% ownership stake, a famous website values. The updated detail of latest funding will be used for customer acquisition and retail expansion.
Not that everything Rihanna touches turns to gold. In February 2021, LVMH and Rihanna confirmed in formal statement to a famous website that they had closing down their other move, a high-end fashion and accessories house also called Fenty. Introduced in 2019, Fenty wanted to enhance Rihanna’s brand of all-embracing and offer styles in a range of sizes. But like many famous fashion brands, the high-priced line suffered during the Covid-19 pandemic, launching its last collection in November 2020.
Hundreds of followers may have complaint about her impressive career as a fashion celebrity and beauty mogul? Business keeps her busy. The famous singer, who used to launch an album almost every year, hasn’t released a new album since 2016’s Anti.
From a financial point of view, that may be just fine: “She is launching a brand outside of herself. This is not about Rihanna,” expresses consultant Coyne. She has branded a real style in the fashion and beauty line.
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