World’s biggest luxury brand LVMH did it again- this time, it’s Rihanna.
Highlights —
- Rihanna is officially a billionaire now with net worth of $1.7 billion.
- Her fashion and beauty line Fenty, in 50-50 partnership with LVMH added $270 million to her net worth.
- On Forbes self-made billionaire women list, Rihanna ranks on 16th among 26th.
- Global music sensation becomes second richest female in entertainment industry.
The undisputed queen of the Hollywood music industry, Rihanna is now officially a billionaire. After more than a decade of being an international heartthrob, Rihanna has now acquired a net worth of $1.7 billion that not only includes the income from her music career but also the burgeoning entrepreneurial lifestyle.
In fact, it is not the earnings from music industry that pushed Riri up in the list of world’s billionaires. It is actually her beauty brand Fenty Beauty that made all the difference to her net worth. This makes the 33 years old American artist the second richest woman in the entertainment industry. The first being Oprah Winfrey.
On the Forbes list of world’s self-made billionaire women, Rihanna has occupied the 16th spot among 26 women with a ten figure amount in the bank account. Before finally hitting it off the chart, the global sensation was already a millionaire because of her wildly popular international music albums.
The latest and the quickest addition of $270 million to her net worth is the result of her triumphant brand and its partnership with French luxury behemoth LVMH.
Interestingly, LVMH is turning into a goldmine for some of the world’s richest individuals. Recently, company’s owner, the French business tycoon, Bernard Arnault, became the world’s richest man, surpassing Amazon Founder Jeff Bezos.
Fenty Beauty made Rihanna a billionaire- Thanks to LVMH
By no means we mean to imply that Rihanna’s success isn’t hers. The American music sensation is a brand in herself. This along with the inclusive product and marketing conceptualization for women of color actually proved to be the X-factor of Fenty Beauty.
However, its hard to not talk about the impetus that the fifty-fifty partnership with LVMH provided to the brand. The partnership came into effect in 2017 and was initially worth $10 million.
The products from Rihanna’s beauty brand sold out like hot cakes at Sephora, an LVMH subsidiary, and soon expanded its operation by introducing the Fenty fashion line named SAVAGE x Fenty. With high-end luxury clothes, jewelry, footwear and accessories on the rack for sales, Fenty is actually the first fashion line that LVMH launched since 1987.
LVMH is world’s highest valued luxury brand and owns big names like Louis Vuitton, Christian Dior, Bulgari, Marc Jacobs, Fendi, Sephora and Tiffany Co. Along with the high-end luxury fashion brands, LVMH also owns world’s most expensive champagne brands, Moet & Chandon and Dom Perignon.
Looking at LVMH’s lux empire, it is not really hard to tell how much potential the brand holds in terms of infusing money in its owner and investors’ pockets.
Few days back, owner of LVMH Bernard Arnault became the richest man in the world with the net worth of $199.9 billion. Sitting on the pile of jaw dropping 70 brands under his ownership, he acquired Tiffany & Co. in January 2021 for $15.8 billion. This was his biggest luxury acquisiton ever.
