Forgot hot girl summer, Rihanna is having a Benjamin-type season! The newly-crowned billionaire’s new perfume, Fenty Beauty Eau de Parfum, sold out within hours of its launch.
To celebrate, the 33-year-old posted a photo of herself in box braids, in a black hoodie, and rectangular sunglasses while casually lounging in a hotel bed and serving herself caviar on a silver tray.
“How I woke up after #FENTYPARFUM sold out this morning!!!” the caption read.
Fenty Beauty Eau de Parfum is the company’s first official fragrance and values at $120.
Money, money, money
2015, she told you to have her money.
2021, she got it.
Last month, Rihanna upgraded to billionaire status and is now the wealthiest female musician in the world. Since the launch of her cosmetics line, Fenty Beauty, in 2017, her worth has risen to $1.7 billion dollars.
Rihanna is now only second to Oprah Winfrey, on the list of wealthiest women in the world. Forbes reports that the majority of her fortune comes from her 50% stake in Fenty Beauty. The company is worth approximately $1.4 billion. The remaining amount is a collective between Rihanna’s lingerie company Savage X Fenty and earnings from her musical career.
Rihanna’s goal for her cosmetics company is to provide inclusivity for all. Products are provided in a large variety of colors and pallets to cater to different skin colors. The buying public has enjoyed the variety of flavors Fenty provides. Especially darker shades for women of color. She’s even gone on to included plus-size women in her Savage X Fenty lingerie lines.
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Fenty Beauty
“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium-dark, dark,” says Shannon Coyne, co-founder of consumer products consultancy Bluestock Advisors. “She was one of the first brands that came out and said, ‘I want to speak to all of those different people.’”
Forbes reports that Fenty Beauty has topped an impressive $2.8 billion, and shows no signs of slowing. The branch-off product, Fenty Skin, of her large empire, debuted during the pandemic and according to her team, has been “off to a great start” and maintaining momentum to power the company even further.
However, over the pandemic, Rihanna lost a few bags as well. In a statement to Forbes, she revealed that her high-end fashion and accessories house also called Fenty, had to be shut down. The last collection was released in November 2020, after a suffering pandemic for several luxury brands.
The only downside to her business blowup is…no music. Rihanna has not put out a single album since 2016 but she did hint at possible, new projects. She is creating a brand that is not just “Rihanna” the way her music is. But a brand that can include everyone and give space to those where there never was any.
