Rihanna just isn’t the primary celeb to make a fortune from cosmetics. was one of the first brands that came out and said: ‘I want to speak to all of those different people.’”
Sign as much as the every day Business Today e-mailīernard Arnault, LVMH’s chairman and chief government, and the world’s third-richest particular person with an estimated $179bn fortune, has mentioned: “Everyone knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader.”Ĭommenting on Rihanna’s success, Shannon Coyne, the co-founder of the patron merchandise consultancy Bluestock Advisors, mentioned: “A lot of women felt there were no lines out there that catered to their skin tone. That makes her the second wealthiest female entertainer on the planet after Oprah Winfrey, who’s sitting on a fortune estimated at $2.7bn. Her stake in within the company, mixed with a 30% stake within the lingerie line Savage X Fenty and money generated throughout her 16-year career as a recording artist, take Rihanna’s fortune to $1.7bn, in response to Forbes.
Forbes journal estimates that the company is now value “a conservative $2.8bn”. In its first year, Fenty Beauty achieved gross sales of $550m, way over different celebrity-endorsed make-up ranges. Rihanna, 33, launched the sweetness model, of which she owns 50%, with the French luxurious conglomerate LVMH in 2017. The model boasted basis in 40 completely different shades when it first launched to “make skin look like skin” and has since expanded to 50.
The singer, who has described make-up as her “weapon of choice for self-expression” whereas rising up, mentioned she was pushed to create her personal vary as a result of established manufacturers didn’t present a full selection of merchandise for all kinds of pores and skin varieties and tones.
Rihanna – actual title Robyn Fenty – launched Fenty Beauty in 2017 with a dream to create a cosmetics company that made “women everywhere included”. However, most of her fortune, estimated on Wednesday by Forbes magazine to be $1.7bn (£1.2bn), doesn’t come from chart-topping singles, however from the success of her cosmetics empire. Rihanna, the singer of hits comparable to Umbrella and We Found Love, is formally a billionaire and the world’s richest female musician.