Rihanna’s lingerie company, Savage X Fenty, raised US$125 million in Series C funding, Forbes reported, citing a company statement.
Neuberger Berman led the round with previous investors L Catterton, Avenir, Sunley House Capital and Marcy Venture Partners joining, the magazine reported. Savage X has raised US$310 million to date, Forbes said.
The funding round coincides with the opening of the brand’s first brick-and mortar store this weekend. Rihanna’s business holdings include Savage X Fenty and Fenty Beauty, which made waves in the industry when the makeup company was launched in 2017, and Fenty Skin. All aim to provide products to customers who are often overlooked by traditional brands.