The world’s richest musician is now Rihanna. Yes, Rihanna hasn’t made music in a long time, but that can be kept on the back-burner- because the bulk of her revenue stream is coming from her Fenty brand. Thanks to a partnership deal Rihanna sealed with Louis Vuitton Moet Hennessy (LVMH). Rihanna made history in her deal with LVMH. She is the first woman of color and the first woman in 32 years to have a partnership with LVMH. In addition to her sponsorship deals, music tours, and album streaming with the inclusion of her Fenty brand- Rihanna has amassed a net-worth of $600 million dollars.
The Launch Of The Fenty Brand
The launch of Fenty Beauty has made Rihanna the first black woman in charge of a European fashion house. LVHM owns around 70 small companies it calls houses-which produces high end luxury clothing, eye-wear and watches. Rihanna’s company, Fenty Beauty will fall in line of the other approximately 70 luxury companies.The last woman, not black that was honored with such a opportunity was Christian LaCroix in 1987. So, you can see how much of a big deal this is for Rihanna to launch her own original brand under the massive luxury umbrella of an expertise foundation that is LVMH.
Just a month ago Rihanna launched her fashion label for Fenty at a pop up boutique in Paris. She has also tackled the cosmetics arena along with diving into the luxury brand of clothing with her Fenty brand. The Fenty luxury clothing starts at $200 and up if you can afford it. Lets not forget the Savage X Fenty line of lingerie(in partnership with TechStyle Fashion Group) and the Fenty eye-wear. The Fenty brand is broader than what we have listed here. Go over to Fenty Beauty if you got the money to buy you some cool fashion statements. Basically, anything Fenty- consider it Rihanna’s. The domination of the brand in all arenas of things you can think of related to beauty is a clear understanding of what Rihanna has been busy doing. And, why making music has not been the priority. From USA Today:
“Celebrity fashion brands have been around a long time and led by singers, but in the past they’ve tended to be done via licensing, wholesale distribution and often more with mass retailers or department stores. What’s different about this Rihanna project is her partner, which is the world’s largest luxury group, which has expertise across a range of leather goods, perfumes, fashion, beauty — so it really raises the bar for celebrity-led fashion brands,” Miles Socha, editor-in-chief of WDD, said in an interview with The Associated Press.
The Inspiration that created a brand
Rihanna’s fire for fashion, and the world of cosmetics came about through her endorsing brands. She had the opportunity for collaboration which led to the creation of her brand today. Realizing her passion and talent for designing- it only made sense for Rihanna to create her own brand, Fenty Beauty. According to CNN:
The cosmetics firm generated an estimated $570 million in revenue in its first 15 months, according to Forbes, while the business magazine estimates that the operation is worth, conservatively, more than $3 billion.
Rihanna has a 15% ownership in her Fenty brand while LVMH owns 50% percent. If you thought Rihanna being the richest musician has gone to her mind or attaining wealth is her focus for hard work- think again. Rihanna says it’s her love for what she does that continues to place the drive in her. Not money. Check out the Fenty Eye wear below:
Listen to Rihanna below as she touches on the road that led her brand creation:
Rihanna is seriously making us feel like we are not doing enough in life.