While fans may still be waiting on an album, Rihanna is racking up the big bucks. Her business ventures are not only groundbreaking, but have led her to becoming a part of the billionaires club, Forbes reported.
The Barbados native is now officially worth $1.7 billion dollars, thanks in large part to her skincare line Fenty Beauty, which debuted in 2017. Collectively, the line is worth $2.8 billion, with Rihanna holding a 50% stake. The cosmetics project accounts for $1.4 billion of her net worth and another large part of her earnings stems from her fashion line, Savage X Fenty, worth an estimated $270 million.
Inspired by self-expression and combating hard-to-match skin tones, Fenty Beauty redefined beauty standards with their inclusive products, created “for people of all shades, personalities, attitudes, & cultures.”
“A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” Shannon Coyne, cofounder of consumer products consultancy Bluestock Advisors said. “We all know that’s not reality. She was one of the first brands that came out and said ‘I want to speak to all of those different people.’”
The “Work” singer once mentioned before that there should never be “pressure” associated with makeup nor should it feel like a “uniform,” adding that she just wants everyone to feel included.
“She is creating a brand outside of herself. It’s not just about Rihanna,” Coyne said. “Even if you don't like her music, she’s created a real style in the fashion and beauty space.”
Since its inception, Fenty Beauty has been received well and statistics have the brand poised to reach even greater heights.
In addition to the money-making makeup line, Savage X Fenty also recently raised $115 million in funding to expand into retail.
“Lingerie is about celebrating your body and that’s what Savage is all about,” Rihanna said in a press release. “Savage…is a representation of all and a validation that everyone is beautiful no matter what.”
But Rihanna’s creativity and effort to be more inclusive doesn’t stop there.
RiRi’s latest business endeavor is the creation of a new, genderless Fenty Beauty fragrance, Fenty Eau de Parfum. The perfume has a “spicy-meets-sweet” aroma, encapsulating magnolia, musk, tangerine, blueberry, Bulgarian rose absolute, geranium and patchouli notes.
“That's the thing I love the most: it's an experience, it's a memory, encapsulated into a fragrance. One smell, you'll never forget it,” Rihanna told CR Fashion Book.
The 33-year-old even thought to be inclusive with her packaging, which is a warm, amber-brown, Rihanna’s favorite color and something she says represents all parts of her identity.
“I wanted a rich color that really represented all genders from across all walks of life. Brown is my favorite color. Brown is who I am. Brown is what I come from. If I'm going to make a fragrance that represents me, even the body language of the bottle needs to marry that," Rihanna shared. "So, I wanted something brown, but also transparent — so you could see the liquid and the fragrance you're about to experience.”
Fenty Eau de Parfum will be available exclusively at fentybeauty.com beginning on Tuesday, Aug. 10.