Rihanna is out here winning!
The Barbadian singer-turned-businesswoman's Savage X Fenty lingerie brand has secured $50 million in new funds from investors, according to a Wall Street Journal report, following a strong first year of sales.
The new funds bring the total amount invested in the company up to $70 million. Among this round's investors are Jay-Z’s venture firm Marcy Venture Partners LLC, along with growth-equity firm Avenir Growth Capital.
Savage X Fenty launched in May 2018 as a collaboration between Rihanna and Techstyle (the same company behind Kate Hudson’s Fabletics), and has since earned applause for its inclusive sizing and affordability. The funding news comes ahead of the brand's second annual New York Fashion Week show in September, which will come with an Amazon Prime stream.