Savage x Fenty made $150m

[Liam 16,191]

Quote

 

Rihanna’s lingerie brand Savage X Fenty has received new funding from investors following a strong first year, bringing the total amount invested in the company to roughly $70 million, according to people familiar with the situation. The brand, a joint venture between Rihanna and venture-backed fashion platform Techstyle Fashion Group, raised capital from investors including rapper Jay-Z’s venture firm Marcy Venture Partners LLC and growth-equity firm Avenir Growth Capital. Rihanna and Techstyle also have invested in the new round. About $50 million is new and $20 million converted from earlier financing, one person said. After launching its debut collection in May 2018, Savage X Fenty has been gaining market share on Victoria’s Secret with a range of undergarments in an array of sizes and colors sold online.

The annual revenue run rate at Rihanna’s lingerie brand is approaching $150 million, people familiar with the business said. Victoria’s Secret reported $7.37 billion in sales last year. But while Savage X Fenty’s sales are growing, Victoria’s Secret’s sales are declining. In addition, customers spend more with Savage X Fenty in a year after their first purchase than with Victoria’s Secret, according to research firm Second Measure, a data provider that tracks consumer spending in the U.S. Twelve months after making their first purchase at Savage X Fenty, customers had spent an average cumulative total of $176.94, according to data from Second Measure. Victoria’s Secret customers on average spend a total of $103.57 over the same time, the data shows. 

 

competing with Transphobias Secret! why make R9 when u can make clothes? source here

 

[fentypark 14]

foot is on they neck, she got em stuck!

[Princess Aurora 31,349]

Whew. I guess we can say goodbye to her Music for a while  However, I'm glad she's doing great things in her sector.