*Rihanna, it must be noted, is officially the richest female musician on the planet.
That bit of info, courtesy of Forbes, puts RiRi’s income at approximately $600 million which puts her ahead of other music superstars such as Madonna ($570 million), Celine Dion ($450 million) and Beyoncé ($400 million).
The news of Rihanna’s wealth comes on the heels of Forbes’ pronouncement that her former mentor, Jay Z, had just become the first hip hop billionaire. The real deal here is that Rihanna’s fortune is not the result of music or concert sales, but rather her savvy move into fashion and partership with French luxury goods giant LVMH.
The collabo between the singer and LVMH on Fenty Beauty, which launched in September 2017 at LVMH-owned Sephora, proved to be a winner right from launch. The brand rdidn’t waste any time bringing in the sales. In fact, it reportedly brought in $100 million in just its first few weeks.
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Part of the reason for the success of the brand is that she tapped into her humongous social media presence, as well as making the strategic decision for Fenty Beauty to inclusive with its products. They’ve released 40 different shades of foundation in what one analyst told the magazine was a potential shock to the traditional beauty system.
“It challenged the standard convention that you only needed a very defined set of shades to satisfy a market,” Jefferies research analyst Stephanie Wissink said. “Not only did [Fenty Beauty] achieve meaningful sales, but it potentially changed the industry permanently.”
So far, at just 15 months in business, Fenty Beauty has reportedly brought in $570 million in sales, with the business worth an estimated $3 billion for LVMH, which owns a reported 50% of the company to Rihanna’s estimated 15%, a figure her team would not confirm, reports MSN News.
Wait. There’s more. In addition to Fenty Beauty, Rihanna — the first black woman to head up a major Parisian luxury house — also co-owns the Savage X Fenty lingerie line with L.A.-based fashion firm TechStyle Fashion Group and has an upcoming clothing line with LVMH, Fenty, which will produce high-end clothes, shoes, accessories and jewelry; the latter, which launched online in May, will includes sizes up to 14, continuing the singer’s push for inclusiveness evidenced in the Fenty Beauty product line.
All we think of at this point is that somewhere Chris Brown is beating the crap out of himself for beating the crap out of Rihanna back in 2009. Dang. He coulda had her and her money. Well, half of it. Oh well.
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