Rihanna captivated the music world with her sultry voice and island-flavored dance moves, but her grip on the beauty industry is truly unparalleled.
She has proved herself a mogul and has reached worldwide success with Fenty Beauty. With a net worth of $1.4 billion, Rihanna is one of the wealthiest female musicians in the world.
The Rise of Fenty Beauty
Fenty Beauty, with annual revenue of $582.8 million and a staggering 12 million Instagram followers, has clinched the title of the world’s most successful celebrity beauty brand, as reported by Cosmetify.
According to the beauty product comparison platform, which assists shoppers in finding the best deals on their favorite cosmetics, Fenty Beauty has achieved an exceptional overall rating of 9.76/10, Happi reported.
Taking the second spot in terms of wealth among celebrity beauty brands is Kylie Cosmetics, the brainchild of reality TV star Kylie Jenner of the Kardashian-Jenner clan, which boasts a score of 9.64/10.
Another survey looking at worldwide prominence, found that 2022, the leading celebrity makeup brand in the United States, United Kingdom, and France was Fenty, with a share of voice of almost 26 percent. Rare Beauty by Selena Gomez came in second, with around 20 percent of share of voice, Statista reported.
Fenty Beauty was born in 2017 and was a brand dedicated to redefining beauty standards and creating an inclusive space for all. The singer proved true to her word and produced an impressive and diverse range of foundation colors in 50 shades. Her commitment to creating such a range of options for darker-skinned women also set her apart from her competitors.
When Fenty Beauty hit the market, it’s safe to say the world loved it. It generated more than $550 million in annual revenues within its first year, surpassing other prominent celebrity brands like Kylie Cosmetics, KKW Beauty, and Honest Co.
Shannon Coyne, co-founder of Bluestock Advisors, commented to Forbes on the brand’s impact, saying, “A lot of women felt there were no lines out there that catered to their skin tone. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.'”
Rihanna Proves There’s Power in Inclusivity
For many users, Fenty Beauty was authentically more than about makeup. It became a movement fueled by inclusivity and diversity and a brand that embraced models of all colors and genders.
Karina Scott, a marketing consultant, emphasized the importance of inclusivity, saying to Newsweek, “Makeup should cater to everyone regardless of your skin tone or gender.”
Rihanna’s Billion-Dollar Empire
As of 2023, Fenty Beauty is estimated to be have a valuation of $2.8 billion, and despite the challenges of the pandemic, her beauty brand did not falter and instead reached all-time highs. The Barbadian beauty truly ushered in a new era of style and found success in her lingerie brand Savage x Fenty, which is doing just as well. The brand follows the same inclusive model as her makeup and achieved a $1 billion valuation in 2021. Savage x Fenty continues to expand online and in brick-and-mortar stores.
What’s Next for Fenty Beauty
With two kids in tow, although she recently stepped down as CEO of Fenty Beauty, it doesn’t look like Rihanna is looking to slow down as a fashion mogul anytime soon. On top of her makeup and skincare, Fenty Beauty has also launched a fragrance.
And she isn’t stopping there. According to E! News, Rihanna’s Roraj Trade, LLC officially filed a trademark for Fenty Hair. According to the outlet, Fenty Hair will include “an array of products, including hair bands, barrettes, picks, bows, clips, pins, ribbons, scrunchies, nets, hair extensions, wigs and hair curlers.”