Forbes has revealed in their recent rankings that 31-year-old Rihanna is the richest singer in the world. In a career that has spanned over a decade and a half, the singer has sold $280 million worth of albums and singles, built a cult following online with 75 million followers on Instagram alone. She has also developed into a great entrepreneur, beauty muse, TV star, and fashion icon.
Who would have thought that a Barbadian teenager will be a music star and fashion mogul? Back in 2005, she made her entrance into the music industry with hits like Pon De Replay and SOS. Those songs were on every radio station.
She heads Fenty, which is a thriving fashion and beauty brand named with her family name. She has earned the right to be regarded as an entrepreneur. Her first involvement with the fashion industry was when she signed a leather goods line for Gucci. Rihanna then collaborated with Giorgio Armani, River Island, Manolo Blahnik, and Puma. It was the one with Puma that she registered her family name, Fenty, as a brand.
The music star is always in the news these days for other reasons other than her looks. And when her name is mentioned, other things other than the tragic incident of Chris Browns battery episode comes to mind.
Although her last album was in 2015, her fans are seriously anticipating the release of her next album. On the music side, her fans are excited for her next release as her last album Anti premiered over three years ago.
It was a pleasant surprise when the world-leading luxury goods company, LVMH announced On May 10 that they had joined forces with Robyn Rihanna Fenty to create a new luxury house. The company is led by Bernard Arnault. The name Fenty which was adopted for the new fashion company was very simple and catchy. That was Rihannas surname.
It really resonated with keen followers of the fashion and music industries. To both the fashion and music industries, the name of the new brand was simple yet explosive: Fenty. The last time LVMH created such a brand was in 1987 and it was named Christian Lacroix.
Fentys first store which is a pop-up store – opened at the end of May in Paris. It offers sophisticated, ready-to-wear, clothing, shoes and accessories. What makes it different from other fashion companies is that it has no permanent shops, no stock, no discounts, and rarely hosts fashion shows. What the brand does is that new collections are released on its website every month.
The range for most items on their website is from 350 to 1100 euros. The turnover projections of LVMH for a year is 20 million euros. Fenty always hits the target courtesy of the income it generates alongside other LVMH brands like Dior and Louis Givenchy. Rihanna has achieved the enviable feat of being the first black woman CEO of a luxury house.
Her man-management skills are shown in how she creates a very strong bond with her team. The cordial relationship is akin to that within the family. Little wonder the mogul nicknames them as the #TheCorp.
Forbes Magazine puts Fenty Beautys worth at more than $3 billion. The beauty brand has expanded Asia, Asia, the most product circulating in China. The amazing thing is that it all started with seven perfumes and a line of umbrellas -inspired by her hit single Umbrella – in 2006!