Multi-hyphenate Rihanna, a self-made billionaire, is adding a new arm to her successful Fenty brand. The Bajan beauty is now throwing her hat — or her wig — into the over $80 billion global hair and scalp care market.
On Friday, July 15, a trademark for Fenty Hair was filed at the United States Patent and Trademark Office by Rihanna’s company Roraj Trade, LLC, with Scott J. Slavik listed as the filing attorney, according to the Women’s Wear Daily.
Under Roraj Trade, LLC, the new mother owns U.S. trademark registrations for a variety of trademarks containing her surname, including “Fenty Beauty,” “Fenty Beauty By Rihanna,” and “Fenty Glow.”
The hair line reportedly will also include must-have accessories like bands, barrettes, picks, bows, clips, pins, ribbons, scrunchies, nets, hair extensions, wigs, and hair curlers.
The brand expansion will not only join the pop star’s holy trinity of commerce, Fenty Beauty, Savage x Fenty lingerie line, and Fenty Skin but surely put her in one of the most competitive spaces in the beauty industry.
The hair and scalp care industry was valued an astounding $80.81 billion globally in 2020, according to Grandview Research. The industry has projected annual growth rate of 6.6 percent from 2021 to 2028. In six short years, that number is expected to leap to $134.30 billion.
Rihanna, if her other ventures are measuring sticks, makes products for a broad audience, taking particular care to include all races, ethnicities, and phenotypes. From the very start, her brand niche locked in on “inclusivity.”
With Fenty Hair, it seems she is carving out a slice of the $88 billion of the personal care industry, including hair care products, in the U.S. reported by Statista.com, which accounts for 32.8 percent of total revenue generated through online sales in the nation.
Being able to keep her finger on the pulse of her target customer landed Rihanna on the Forbes’ top self-made billionaire’s list, holding the title as the richest female musician in the world.
It is that insight that allowed Fenty to generate more than $550 million in 2020 alone, for Savage X Fenty to consider an initial public offering later this year that could boost the value of that venture up to $3 billion, and for French luxury fashion conglomerate LVMH to step up to buy half of the beauty company. Her business ventures have raised her net worth to be at an estimated $1.7 billion.