Rihanna steps down as CEO of Savage X Fenty, what’s going on?
Rihanna, the female singer among the richest self-made billionaires in America, left her position as CEO of her famous lingerie brand. The rumored reason makes fans happy for her to have her own happiness after many years of dedication to art.
Recently, the 35-year-old female singer who owns the hit “Love on the Brain”, announced that she will step down as CEO of the lingerie brand “Savage X Fenty” after 5 years.
“It’s been great to see our vision for Savage X Fenty impact the industry at such an incredible level over the past five years. “This is just the beginning for us, and we will continue to expand in ways that stay connected to consumers.” Rihanna shared with Vogue Business magazine on Thursday (June 22)
According to the media, the reason Rihanna left her position as CEO was because she was pregnant and expecting her second child to be born with male rapper A$AP Rocky. So Rihanna has chosen Hillary Super, former global CEO of Anthropologie Group, to succeed her at the helm of lingerie brand “Savage X Fenty” starting tomorrow (June 26).
Hillary Super, former global CEO of Anthropologie Group, will be Rihanna’s successor.
“I am so excited to join the Savage X Fenty family,” said Hillary Super, 51.
“The brand is a major force in the lingerie and apparel industries, and its steadfast commitment to celebrating inclusivity and fearlessness inspires.”
Lingerie brand Savage X Fenty was launched by the singer in 2018 and reached a valuation of $1 billion in 2021.
Additionally, Rihanna will continue to lead the brand as Executive Chairman. Lingerie brand Savage X Fenty launched in 2018, quickly attracting consumers with a variety of colors and sizes.
“For me, it’s important to push boundaries, but also create a style where women can see themselves. I want to make people look and feel good, and have fun playing around with different styles.” the “Diamonds” singer told the press in May 2018.
Three years later (2021), Forbes reports that nine-time Grammy winner Rihanna’s lingerie company has reached a $1 billion valuation after securing a Series B funding round and raising $115 million for the company’s upcoming activewear and retail expansion.
Not only is Rihanna making a lot of money with Savage X Fenty, but she’s also dominating the makeup game with her brand Fenty Beauty, which launched in 2017.
In addition to her musical talent, Rihanna also invests in business very successfully. Currently she is one of the richest female artists in the world.
According to Forbes, makeup company Fenty Beauty also quickly disrupted the market with its diverse shades and generated $558 million in its first year of operation. It is these billion-dollar revenues that make Rihanna – who is about to become a mother of two – the richest female musician in the world.
In 2019, the female singer’s Fenty Beauty was valued at more than $3 billion.
The singer is expecting her second child with rapper A$AP Rocky.
Besides business, Rihanna is preparing to welcome a new member to the family. She and male rapper Rocky (34 years old), currently sparking marriage rumors, will soon become parents of two children. Previously, the couple welcomed son Rza in May 2022.
