Rihanna's lingerie brand Savage x Fenty raises $125 million in Series C funding

Rihanna’s lingerie brand Savage X Fenty reportedly raised $125 million in a Series C funding round led by Neuberger Berman. The announcement was made during the opening of the company’s first ever brick-and-mortar store at the Fashion Show Mall on the Las Vegas Strip.  

Neuberger Berman joined Savage x Fenty’s previous investors, including L Catterton (a private equity firm backed by LVMH’s Bernard Arnault), Avenir, Sunley House Capital, Advent International and Marcy Venture Partners (the venture capital firm co-founded by Jay-Z). 

New investors such as LionTree, ACME Capital, Abu Dhabi Growth Fund (owned by the Abu Dhabi government) and Multiply Group also participated in the funding round. 

This investment brings the lingerie brand a total of $310 million in terms of venture capital funding to date. In its Series B funding back in February 2021, the brand raised $115 million, making it a billion-dollar lingerie brand.

According to Forbes, the latest funding will support the company’s plan for retail domination as it will build more brick-and-mortar stores. The brand also plans to expand overseas and launch new product lines.

Savage X Fenty was founded back in 2018 by pop star-turned-entrepreneur Rihanna as an inclusive lingerie brand for all body types.