Savage X Fenty Secures $125M To Launch Retail Expansion

BYCole Blake2.0K Views
Link Copied to Clipboard!
Ilya S. Savenok / Getty Images
Rihanna, Savage x Fenty
Savage X Fenty has raised millions for a massive expansion.

Rihanna’s Savage X Fenty is preparing for a massive expansion that will see the lingerie brand opening 10 store locations throughout the year. In doing so, Savage X Fenty has secured $125 million in new funding from investors.

Within the next three months, the brand hopes to open locations in Los Angeles, Houston, Philadelphia, and Virginia, with a total of 10 store openings coming across the country throughout the year. Earlier this month, Savage X Fenty opened a location on the Las Vegas Strip.

Emma McIntyre / Getty Images

Savage X Fenty co-president Christiane Pendarvis discussed the brand's plan in a recent interview with Forbes.

“We’ll start with a limited amount of stores,” Pendarvis told the outlet. “It will represent a small percentage of our business. This is about making sure we’re getting the right formula and assortment mix in stores.

“This is an extremely curious test-and-learn year for us then you’ll see us ramp up next year,” Pendarvis added.

Investors for the new venture include Neuberger Berman, L Catteron, and Marcy Venture Partners, the firm co-founded by Jay-Z.

Becoming a primary focus for Rihanna since 2018, Savage X Fenty has rocketed her net worth to $1.7 billion.

Check out a glimpse of Savage X Fenty's store setup below.


[Via]


About The Author
Cole Blake is a current staff writer at HotNewHipHop based out of New York City. He began writing for the site as an intern back in 2018 while finishing his B.A. in Journalism at St. John’s University. In the time since, he’s covered a number of breaking stories for HNHH. These include the ongoing YSL RICO trial, the allegations surrounding Diddy, and much more. His work also extends outside of hip-hop, having written extensively about a myriad of topics including politics, sports, and pop culture. He’s attended several music festivals to provide coverage for the site as well, such as Rolling Loud and Governors Ball.
...