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Rihanna is going to have a lighter work, work, work, work, workload.
The “Love on the Brain” singer, 35, announced that she is stepping down as chief executive officer of her Savage X Fenty lingerie brand after holding the position for five years.
“It’s been beautiful to see our vision for Savage X Fenty impact the industry at such an incredible magnitude over the last five years,” she told Vogue Business in a statement Thursday.
“This is just the beginning for us, and we’re going to continue to expand in ways that always connect with the consumer.”
Rihanna, who is currently expecting her second child with A$AP Rocky, tapped Hillary Super, former global CEO of Anthropologie Group, to succeed her beginning on June 26.
“I’m thrilled to join the Savage X Fenty family,” Super, 51, told the outlet.
“The brand is a major powerhouse in the lingerie and apparel industry, and its unwavering commitment to celebrating inclusivity and fearlessness is inspiring.”
Rihanna, who will continue to serve in a leadership role for the brand as the executive chair, launched Savage X Fenty in 2018, captivating consumers with its diverse shade and sizing range.
“It was important to me to push the boundaries, but also create a line that women can see themselves in,” the “Diamonds” singer said of the line in a press release in May 2018.
“I want to make people look and feel good, and have fun playing around with different styles.”
Three years later, Forbes reported that the nine-time Grammy winner’s lingerie company had reached a $1 billion valuation after acquiring a round of Series B funding that raised $115 million for the company’s upcoming retail and activewear expansion.
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Not only is Rihanna bringing in the big bucks with Savage X Fenty, but she’s also dominating the makeup game with her Fenty Beauty brand, which launched in 2017.
Per Forbes, the makeup company, which also swiftly disrupted the market with its diverse shades, generated $558 million in its first full year in operation, making the soon-to-be mom of two the world’s wealthiest female musician.
In 2019, the outlet placed Fenty Beauty’s valuation at more than $3 billion.
Aside from business, Rihanna is gearing up to expand her family soon. She and Rocky, 34, who are currently fueling marriage rumors, will soon be parents of two children.
The couple welcomed son Rza in May 2022.
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Courtesy : https://pagesix.com/2023/06/24/rihanna-steps-down-as-savage-x-fenty-ceo-amid-pregnancy/