On the heels of Rihanna becoming a billionaire the mogul’s brand is moving offline and opening her first physical store in Las Vegas. Fenty is following a trend with digitally-native, direct-to-consumer brands like Glossier, Warby Parker, and Allbirds.
In the quest for ever-increasing sales, online brands are reaching the digital ceiling in acquiring customers solely online. The rising cost and competition for online ad placement when compared to the relatively low cost and availability of prime retail space makes online brands opening their physical stores a match made in cyber heaven.
Fenty Fast Facts – from eMarketer.com
|$310 million: How much lingerie brand Savage X Fenty has raised to date, after a recent $125 million series C funding round, per Bloomberg. In 2020, the company’s revenues grew more than 200% and its active VIP member base increased by more than 150%, according to Forbes.|
|2022: The year that Savage X Fenty opened its first brick-and-mortar location in Las Vegas. The store will feature an augmented reality (AR) technology platform from Fit:Match that uses body-shape data to match customers with the best-fitting products, per Ad Week.|
|34%: The increase in the number of size-inclusive lingerie styles at US and UK retailers a year after Savage X Fenty’s launch, per Worth.|
|$2.8 billion: The valuation of Fenty Beauty as of November 2021, per Worth. According to OLBG, the company brings in $570 million per year on average, making it the top-earning celebrity beauty company.|
|50: The number of foundation shades that Fenty Beauty offers currently, up from the original 40 at launch in 2017. “It was important that every woman felt included in this brand. We are all so different, with our own unique skin tones,” founder Rihanna said in a 2017 interview with Time.|