Rihanna going head to head with likes of Victoria’s Secret and Agent Provocateur after securing £40m investment for her lingerie line
Rihanna is going head to head with the likes of Victoria’s Secret and Agent Provocateur after securing a £40m investment for her lingerie line.
Investors have plugged the pop star’s brand, Savage X Fenty, with almost £60m to date following a previous round of funding.
Hitting the high notes: Rihanna launched the range last year and it is available to British shoppers through online-only retailer Asos
Rihanna, 31, launched the range in May last year and it is available to British shoppers through online-only retailer Asos. The line, which was created as part of a joint venture with retailer Techstyle Fashion Group, has become hugely popular due to its wide range of sizes and colours, with bras costing between £24 to £74 online.
Investors in the latest round of funding included rapper Jay-Z’s venture firm Marcy Venture Partners and Rihanna herself.
Victoria’s Secret has suffered a slowdown in sales, while Mike Ashley-backed Agent Provocateur posted a £9.6m loss last year.
Barbados-born Rihanna is thought to have a fortune of almost £500m, making her the world’s richest female musician.