Rihanna She began her career as a business entrepreneur with her lingerie brand Savage X Fenty, which has helped the singer become a multi-millionaire. Read on to find out if she still owns the company..
Is Rihanna the CEO of Savage X Fenty?
The “Work” singer will no longer hold the top position on the brand that she has held since its launch in May 2018.
The news was confirmed by Sarah Van Dyck, Egon Zehnder’s global co-lead of consumer practice, through a LinkedIn post.
“Rihanna plans to step down on June 26,” the exclusive news given to fashion business read on June 23, 2023. super hillaryWHO served as former CEO of Anthropologie Group, It is established to take over your job.
“It has been beautiful to see our vision for Savage X Fenty impact the industry on such an incredible scale over the last five years,” the Grammy winner said in a statement. to Fashion Business. “This is just the beginning for us, and we will continue to expand in a way that always connects with the consumer.”
RiRi added, “I am so grateful and excited to welcome Hillary Super as our new CEO – she is a strong leader and focused on taking the business to an even higher level.”
Does Rihanna own Savage X Fenty?
She is not in full control of the company, having a 30 percent stake in the brand according to business magazines. Savage X Fenty is co-owned by French luxury group LVMH and other investors. LVMH stands for Louis Vuitton Moët Hennessy, a French conglomerate specializing in luxury goods that includes brands such as Christian Dior, Fendi, Marc Jacobs, Givenchy, Tiffany & Co., TAG Heuer and Bulgari.
Why Rihanna launched Savage X Fenty?
Her brand was one of the first to have all-inclusive sizes and models for sexy lingerie. “We want people to look good and feel good,” Rihanna explained in the “about us” section on the company’s website.
She “approaches Savage X Fenty with the same mindset with which she does all of her projects: to make something new and fresh that everyone can relate to and feel confident in,” the mission statement continued. “We want you to feel sexy and have fun doing it,” added the Fenty Beauty founder. The company’s products range from everyday essentials like bras, underwear and loungewear to “sexier pieces” that have included crotchless pajama bottoms and other edgy items.
The company expanded to include a sportswear line including sportswear and sportswear in November 2022.