Rihanna started her career as a business entrepreneur with her lingerie brand Savage X Fenty, which has gone on to help the singer become a billionaire. Keep reading to find out if she still owns the company.
Is Rihanna the CEO of Savage X Fenty?
The “Work” singer will no longer serve in the top position at the brand she’s held from its May 2018 launch.
The news was confirmed by Sarah Van Dyck, the global consumer practice coleader at Egon Zehnder, via a LinkedIn post
“Rihanna plans to step down from the position on June 26,” the exclusive news given to Vogue Business read on June 23, 2023. Hillary Super, who served as the former CEO of Anthropologie Group, is set to take over her job.
“It’s been beautiful to see our vision for Savage X Fenty impact the industry at such an incredible magnitude over the last five years,” the Grammy winner said in a statement to Vogue Business. “This is just the beginning for us, and we’re going to continue to expand in ways that always connect with the consumer.”
RiRi added, “I’m so grateful and excited to welcome Hillary Super as our new CEO — she is a strong leader and is focused on taking the business to an even higher level.”
Does Rihanna Own Savage X Fenty?
She doesn’t have total control of the company, as she holds a 30 percent stake in the brand according to Biz Journals. Savage X Fenty is co-owned by the French luxury group LVMH, and other investors. LVMH stands for Louis Vuitton Moët Hennessy, a French conglomerate specializing in luxury goods including such brands as Christian Dior, Fendi, Marc Jacobs, Givenchy, Tiffany & Co., TAG Heuer and Bulgari.
Why Did Rihanna Launch Savage X Fenty?
Her brand was one of the first to have all-inclusive sizes and models for sexy lingerie. “We want to make people 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 mentality she does all 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,” the Fenty Beauty founder added. The company’s products include everyday essentials including bras, underwear and loungewear to more “provocative pieces” that have included crotchless pajama bottoms and other racy items.
The company branched out to include a sportswear line including workout and athleisurewear in November 2022.
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