The lingerie company, “Savage X Fenty” that ‘RnB’ singer, Rihanna launched five years ago will no longer have her as CEO.
Savage X Fenty started in 2018 as an online retailer before quickly expanding into pop-up stores that sold lingerie, sleepwear, and loungewear in all sizes before launching brick-and-mortar stores across the nation.
“It’s been beautiful to see our vision for Savage X Fenty impact the industry at such an incredible magnitude over the last five years,” Rihanna told Vogue Business.
According to Forbes, Savage X Fenty was valued at $1 billion in February 2021.
“This is just the beginning for us, and we’re going to continue to expand in ways that always connect with the consumer,” she added.
Former Anthropologie Group CEO, Hilarie Super, is set to become the new chief executive officer of the billion-dollar business effective June 26.
“I’m so grateful and excited to welcome Hillary Super as our new CEO — she is a strong leader and is focused on taking the business to an even higher level,” Rihanna said.
“I’m thrilled to join the Savage X Fenty family,” she told the outlet. “The brand is a major powerhouse in the lingerie and apparel industry, and its unwavering commitment to celebrating inclusivity and fearlessness is inspiring.”
Super previously worked with Guess, American Eagle, Gap and Old Navy.
Rihanna will however remain in a leadership position at the company as executive chair.
It’s currently unclear why the “Umbrella” singer is taking a step back from one of her lucrative businesses.
By: Jude Tackie
