Grammy winner Rihanna is stepping down as CEO of her Savage X Fenty lingerie brand after five years. She will continue to serve in a leadership role as executive chair while Hillary Super, former global CEO of Anthropologie Group, takes over. Savage X Fenty became a major powerhouse in the industry, reaching a $1 billion valuation in 2021, while Rihanna’s Fenty Beauty brand generated $558 million in its first year and was valued at over $3 billion in 2019.
Rihanna is stepping down as CEO of Savage X Fenty and will be succeeded by Hillary Super, while continuing to serve in a leadership role and focus on the brand’s expansion, as the lingerie company reached a $1 billion valuation in 2021 and Rihanna’s Fenty Beauty brand generated over $558 million in its first year.
Title: Rihanna Steps Down as CEO of Savage X Fenty, Taps Hillary Super as Successor
Rihanna, the renowned singer and entrepreneur, has announced that she will be relinquishing her role as chief executive officer of her Savage X Fenty lingerie brand after five successful years at the helm. In a statement to Vogue Business, the 35-year-old artist expressed her pride in witnessing the tremendous impact that Savage X Fenty has had on the industry. She assured fans and consumers that this decision marks the beginning of an exciting new chapter for the brand, as they continue to expand and connect with their audience.
To fill her shoes, Rihanna has appointed Hillary Super, the former global CEO of Anthropologie Group. Super, who is set to assume the position on June 26, expressed her enthusiasm for joining the Savage X Fenty family. She acknowledged the brand as a major powerhouse in the lingerie and apparel industry, deeply inspired by its unwavering commitment to celebrating inclusivity and fearlessness.
Rihanna will not be completely stepping away from the brand, as she will continue serving in a leadership capacity as the executive chair. Since its launch in 2018, Savage X Fenty has captivated consumers with its diverse range of shades and sizes, allowing women to truly see themselves in the lingerie offerings. Speaking about her line, Rihanna stated her intention to push boundaries while creating a collection that empowers women to feel good and have fun experimenting with different styles.
In addition to Savage X Fenty, Rihanna has made significant waves in the makeup industry with her Fenty Beauty brand, which debuted in 2017. The makeup company disrupted the market with its inclusive shade range and generated a staggering $558 million in its first year alone. As a result, Rihanna became the world’s wealthiest female musician, according to Forbes. The outlet also valued Fenty Beauty at over $3 billion in 2019.
While Rihanna’s entrepreneurial ventures continue to flourish, she is also preparing to expand her family alongside her partner, A$AP Rocky. The couple, who are currently fueling marriage rumors, will soon become parents to their second child, joining their son Rza, who was born in May 2022.
Rihanna’s decision to hand over the reins of Savage X Fenty signifies an exciting new chapter for the brand, and fans eagerly await the future developments under Hillary Super’s leadership. With Rihanna’s enduring influence and commitment to inclusivity, it’s clear that Savage X Fenty will continue to make a lasting impact in the lingerie and apparel industry.