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Rihanna’s Savage x Fenty Line Draws $50M in New Funding

Rihanna’s world domination tour continues.

The singer-turned-fashion-mogul’s Savage x Fenty line of lingerie received a hefty cash infusion, to the tune of $50 million, this week.

According to a report from The Wall Street Journal, the new round of funding brings the total investment input to $70 million. Savage x Fenty’s backers include private investment firm Avenir Growth Capital and Jay Z’s venture capital firm, Marcy Venture Partners, LLC. Since its launch in May 2018, the size-inclusive brand has generated nearly $150 million in sales.

Savage x Fenty is the product of a collaboration between Rihanna and Techstyle, owner of Kate Hudson’s Fabletics activewear brand, as well as ShoeDazzle. All three brands are subscription-based services with tiered membership plans.

The news follows the brand’s announcement this week that its Autumn-Winter 2019 fashion show will be available to stream exclusively through Amazon Prime Video, starting on Sept. 20. Savage x Fenty’s second annual show will take place during New York Fashion Week, and will feature appearances from models, dancers and actors, according to a release from Amazon.

Rihanna promised the event would be a “bold, sexy, super energetic experience” for viewers, while Jennifer Salke, head of Amazon Studios, praised the singer’s prowess in the realms of music, film, beauty and fashion.

“She has re-invented the idea of what fashionable lingerie should be for a global customer,” she said. “The Savage X Fenty Show promises to be a ground-breaking and truly unique experience and we’re thrilled to give our global customers an exclusive front row seat,” she said.

In May, Rihanna’s line of luxury line of apparel, footwear and accessories with high fashion powerhouse LVMH was announced. Not since 1987, when the firm launched the Christian Lacroix label, had LVMH invested in building a fashion brand from scratch.

Fenty’s first collection dropped in June, with a bevy of products “rendered in light textiles with bright hues and eye catching prints,” including body-con dresses and tops. In July, a second drop featured T-shirts inspired by Rihanna’s experience as an immigrant of Barbados.

Last week, Fenty released its first fall drop, which included structured satin blazers, knit bodysuits, and streetwear-inspired separates like sweatshirts and jersey pants.

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