Work, Work, Work, Work, Work, Work
That’s the opening line of Rihanna’s 2016 dance hall anthem, titled appropriately, WORK, It could also serve as her personal motto.
Rihanna, (pronounced "Ri-ann-ah," not "Ri-ah-nah," as she recently clarified) Famously known as a singer, Robyn Rihanna Fenty, 31, has evolved into a style icon and makeup entrepreneur which has raised her net worth to an estimated $600 million, making her the wealthiest female musician in the world, ahead of the likes of Madonna ($570 million)
Céline Dion ($450 million)
and Beyoncé ($400 million).
But How did ri-ri make so much in a few years?
Surprisingly Most of her wealth comes not from music but from her partnership with LVMH, the French luxury goods giant run by billionaire Bernard Arnault.
She is the co-owner of the make up brand "fenty beauty" launched in September 2017 at Sephora, another LVMH brand, and online at FentyBeauty.com
Fenty Beauty racked up a reported sum of about $100 million in sales in its first few weeks, propelled by Rihanna’s fame and thanks to the 71 million Instagram followers.
Fenty Beauty has differentiated itself in another way, releasing 40 shades of foundation, far more than the handful of hues sold by other brands. “It challenged the standard convention that you only needed a very defined set of shades to satisfy a market,” says Stephanie Wissink, a research analyst at Jefferies. “Not only did it [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently.” making the make up brand industry more competitive than ever.
As sales continue to soar, Fenty Beauty generated an estimated $570 million in revenue last year, after only 15 months in business. According to Forbes, the entire operation is worth, conservatively, more than $3 billion, Forbes estimates that LVMH owns an estimated 50% of it, while Rihanna has about 20%.
Her empire continues to grow. In May, LVMH and Rihanna announced fenty as a new clothing house that will make high-end clothes, shoes, accessories and jewelries.
“They extended the offer to me and it was a no-brainer because LVMH is a machine,” Rihanna told The New York Times Style Magazines. She added that “Bernard Arnault was so enthusiastic; he trusted me and my vision.”
The fashion line, which was earlier launched online in will exist under the same umbrella as famous brands such as Dior and Givenchy, marking LVMH’s first new house in more than 30 years.
What Fenty Beauty did to beauty, Fenty lifestyle is going to do to fashion,” says Wissink. “It’s going to raise the bar for what it looks like to build a brand that’s inclusive, game changing, global and iconic.”
With the turns of new developments, bad girl riri is set to be the first black woman to own a major luxury fashion house.
Lovers what do you think? How many likes for rihanna...
Blacks Are Making Impact!!
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