O’Neil Langan Architects, artist Jed Skrzypczak and creative agency PlayLab collaborated to build Rihanna’s vision of a "dollhouse" concept, drenched in the brand’s signature lavender. “With her massive following there can be gold in everything she touches.” “Rihanna’s following is also part of that win,” she adds. Victoria’s Secret left that out of the conversation for some time, leaving it to new brands with new ideas to go after market share.” “Savage came at a time when the intimates market sector was being challenged to change, leaving this idea of sexy behind and redefining what that means. Jessica Ramirez, retail research associate at Jane Hali & Associates, says the brand is benefiting from great timing and great star power. reached $15.8 billion in 2021, a 34% increase in dollar sales, versus 2020. The women’s intimate apparel market, meanwhile, grew since pre-pandemic 2019, according to the NPD Group. The company declined to comment on revenue. Since its inception as a direct-to-consumer business in 2018, Savage X Fenty has seen a revenue CAGR of 150% each year, according to Pendarvis. This is an extremely curious test-and-learn year for us then you’ll see us ramp up next year.” This is about making sure we’re getting the right formula and assortment mix in stores. “It will represent a small percentage of our business. “We’ll start with a limited amount of stores,” says Pendarvis. Denise Truscello/Getty Images for Savage X Fenty The next store will open in Culver City in Los Angeles (where the company is based), followed by the Galleria Mall in Houston, the King of Prussia Mall outside Philadelphia and Pentagon City’s Fashion Centre in Arlington, Virginia.Īll steps lead to Savage: The brand's first brick-and-mortar is in Vegas. The company plans to open four more stores in the first quarter of 2022 and a total of ten by the end of the year, according to Savage X Fenty co-presidents Christiane Pendarvis and Natalie Guzman, who also serve as chief merchant officer and chief marketing officer, respectively.
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The Series C announcement coincides with the highly anticipated opening of Savage X Fenty’s first boutique at the Fashion Show Mall on the Las Vegas Strip. The latest funding will support the fashion company’s foray into brick-and-mortar retail, plans to expand overseas and the launch of new product lines. Savage X Fenty, Neuberger Berman, L Catterton and Marcy Venture Partners did not respond to requests for a valuation of the company.
Rihanna, at the time, held a 30% stake in the Savage brand. Last February, Savage X Fenty raised $115 million in Series B.
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