Rihanna’s lingerie brand Savage X Fenty is now worth $1 Billion.
A round of Series B funding was recently completed for Savage X Fenty, raising $115 million. The money will support the company’s growth and further expansion into retail.
One of the investors to put money into the brand during the funding round was L Catterton, a private equity firm that fashion house LVMH has a stake in.
Other investors in the lingerie brand include Jay-Z’s Marcy Venture Partners, Avenir Growth Capital, TriplePoint Ventures and Sunley House Capital.