Savage X Fenty Set to Expand Into Activewear

Savage X Fenty Set to Expand Into Activewear

Rihanna is reportedly planning to expand into activewear.

The singer is reportedly eyeing up new investors to help her expand her Savage X Fenty lingerie line.

Sources have told The New York Times’ DealBook that the fashion mogul has hired investment banking firm Goldman Sachs to raise $US100 million to scale up her Savage X Fenty brand, with the new initiatives reportedly including an activewear line and an expansion in Europe.

According to the publication, Savage X Fenty generates around $US150 million in revenue but is not yet profitable.

The ‘Pon De Replay’ singer launched the lingerie brand in 2018 with a focus on a diverse range of body types – a move that helped it take on its main competitor, Victoria’s Secret. Savage X Fenty has had celebrity ambassadors such as Normani, Tinashe and JoJo, and has hosted two annual star-studded fashion shows which debuted on Amazon Prime Video.

However, earlier this year, the brand hit headlines when Truth in Advertising, a non-profit organisation, claimed it “ensnares consumers into unwanted monthly charges”, through a membership plan that most customers unwittingly sign up to. A representative for the line denied the allegations.

The brand is partly owned by TechStyle Fashion Group, the company behind Kate Hudson’s athleisure line Fabletics.

Rihanna is also the brains behind Fenty Beauty, a cosmetics brand which launched with 40 shades of foundation, and Fenty, her fashion line with French luxury group LVMH.

Reuters

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