In fact, the goods available in the online stores and in the LVMH-owned Sephora outlets immediately became in high demand. According to LVMH, in the first year, the sales of the Riana cosmetics brand collection reached 550 million dollars, which was a much better figure than the potential of other stars. Sales of Kylie Cosmetics, Kylie Cosmetics, Kim Cardashian’s KKW Beauty and Jessica Alb’s Honest Company in the first year were not as great as Riana’s.
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“Many women are faced with the fact that no manufacturer takes their skin color into account. Previously, toners were available on the market only in light, medium light, medium dark and dark shades. We know that this is not the case in reality. Riana created one of the first brands to hit the market right away and said, “I want a dialogue with all these different people,” explains Shannon Cain, co-founder of consulting firm Bluestock Advisors.
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Cosmetics sales fell during the pandemic, but cosmetics companies have maintained the same value as before. Shares of major cosmetics companies such as L’Oreal and Estee Lauder fell slightly, followed by a rise and new records. The market value of companies is also an impressive indicator – at least 7.5 times higher than the annual profit. Independent brands such as Beautycounter and Charlotte Tilbury do business with investment firms, although they are also worth billions of dollars.
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That is good news for Riana. Fenty Beauty is currently valued at $ 2.8 billion, according to Forbes. All this points to the fact that the company continues to grow. LVMH’s 2020 report states that “Fenty Skin”, founded last year, is “a rather promising company that has attracted unprecedented attention”, but “Fenty Beauty” is a leading cosmetics brand.
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Fenty Beauty is not the only successful brand owned by Riana. In February, her lingerie brand Savage X Fenty attracted $ 115 million in investment. The name of Marcy Venture Partners can be found among the investors of the company founded in 2018. This company is owned by rapper Jay-Z.
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Forbes points out that lingerie manufacturer Riana owns 30% of the shares, and the funding raised in the first half of this year will be used to expand the sales network and attract new customers.
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To be fair, not all of Riana’s businesses have been successful. In February, LVMH and Riana officially confirmed that one other joint project is being closed – a fashion house, which was also called “Fenty”. It was founded in 2019 as an inclusive brand that offered clothing in a wide range of sizes. However, this line of luxury clothing, like the products of other manufacturers, suffered severely from the pandemic. The last Fenty collection saw the light of day in November 2020.
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However, the singer’s supporters are not satisfied with the fact that working in the fashion and beauty business takes too much time for Riana. Riana’s last album was released in 2016, and before that, Riana released new albums every year.
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However, from a financial point of view, this is not so bad. “She has created a brand that is not related to her personality. We are not just talking about Riana here. Even if you don’t like her music, she has created a separate niche in the fashion and cosmetics industry, where any woman can find something suitable for her, ”says Keina.
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