The lingerie brand designed by pop music star, Rihanna, announced this week (10th February) that it had closed a $115 million fund-raising round, led by private equity company L Catterton. Savage x Fenty intends to use the funds for further customer acquisition and future expansion into retail.
Whilst her high-end fashion brand, Fenty Maison, is closing just two years after she launched it with the French luxury conglomerate, LVMH, the lingerie brand has grown quickly (some estimated revenue in 2020 of $150 million) and 3.9 million followers on Instagram. And despite the lingerie sector being increasingly crowded in recent years Savage x Fenty has established its reputation not only with celebrity tie-in but also inclusivity and diversity. Marketing an overtly sexy brand is a tricky business, but Savage draws a distinction between sex-positive and “sexy” defined by a male-dominated culture. Victoria’s Secret began to decline in 2016, after years of dominating the women’s underwear industry, partly because its oversexed marketing catered to the male gaze, rather than how women saw themselves.
Inspired by women before her (Madonna and Mariah Carey…) Rihanna often performs in sexy outfits coupled with a message about women’s empowerment. As CEO and creative director of Savage, Rihanna wants to create a brand where women are firmly in control of their body and sexual experience. And while Victoria’s Secret fashion shows were known for their skinny supermodels, Savage embraces diversity in every form, featuring women and men of all sizes, skin tones, and ages, including pregnant women and drag queens.
This is an accessible brand with prices that start at less than $10 a bra and Rihanna has built the brand in partnership with Tech Style Fashion Group (known for affordable subscription-bases brands such as Fabletics). Rihanna is much more than the face of the brand but intimately involved with product development and branding.
Part of what makes Savage radical in the lingerie sector is that it makes the case that all people – regardless of their shade, shape, or size – deserve to feel sexy. Savage’s branding and advertising is incredibly diverse, featuring many people of colour. It is also a digital native, data-driven brand and has partnered with Amazon to stream its fashion show through Prime.
Pictures – courtesy of Savage x Fenty
