![]() ![]() Ĭomments, questions or feedback? Email us at. To receive the Vogue Business newsletter, sign up here. “The brand strikes a unique balance between affordability, fashion and comfort, stands deeply for inclusivity and diversity, and has differentiated itself by building an extraordinary level of affinity and unmatched customer loyalty,” says Jon Owsley, co-managing partner of L Catterton’s growth fund. The company does not disclose specific sales figures. ![]() Savage X Fenty’s Series B financing of $115 million, meanwhile, comes on the heels of 200 per cent revenue growth in 2020. “Beauty would also entail lower fixed costs to operate, than a fully fledged fashion maison,” he says. LVMH’s beauty ventures have the help of Sephora, the speciality beauty retailer in the company’s portfolio that, Solca says, works as a type of mothership for smaller beauty brands to launch and develop. Fenty Beauty, which launched in 2017, was an instant success, reached revenue of €500 million in 2018. beauty and lingerie) is evidence of the paramount challenge in creating a luxury brand from scratch, even for the world’s largest luxury conglomerate and a global celebrity who counts 90.8 million Instagram followers.īeauty and lingerie offer more promise. The move to focus on lower price point categories (i.e. While Fenty Beauty is backed by LVMH’s beauty incubator Kendo, Savage X Fenty was launched as a joint venture between Rihanna and TechStyle Fashion Group. Fenty Jumper I mean, who wouldnt Rihanna is sartorially known for many things, from being a general fashion icon to a designer, but this new venture of. “LVMH and Rihanna reaffirm their ambition to concentrate on the growth and long-term development of the Fenty ecosystem focusing on cosmetics, skincare and lingerie,” LVMH stated. Former policy analyst and campaign manager. ![]() The announcement coincided with the completion of a $115 million funding round for Rihanna’s lingerie line Savage X Fenty, led by L Catterton, the private equity firm backed by LVMH. Communications professional highly skilled in news writing, social media marketing, data judgement, and research. She lost in the Republican primary on June 12, 2018. House to represent Virginia's 4th Congressional District. While the Fenty fashion house has faltered, the Rihanna-led Fenty beauty and lingerie lines have proven that other brand avenues are fruitful partnerships. Personal Facebook Shion Fenty ( Republican Party) ran for election to the U.S. “Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity based in Europe, pending better conditions,” LVMH said in a statement on Wednesday. Less than two years after its debut, LVMH and Rihanna’s fashion brand, Fenty, is on ice. ![]()
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