Rihanna Steps Down as CEO Of Savage X Fenty: 'This Is Just the Beginning' The billionaire founded the popular lingerie company in 2018.
By Emily Rella
Opinions expressed by Entrepreneur contributors are their own.
It's the end of an era for superstar Rihanna who has announced that she will be stepping down as CEO of her popular lingerie line Savage X Fenty, effective Monday.
"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 "This is just the beginning for us, and we're going to continue to expand in ways that always connect with the consumer. 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."
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Super, who will succeed the "Diamonds" singer, was the former global CEO of Anthropologie Group, which oversees popular retailers Free People and Urban Outfitters as well as Anthropologie.
The plan, per Vogue, is to bring in Super to help transition Savage X Fenty from a predominantly e-commerce brand to one that can expand to have a strong brick-and-mortar presence as well as dipping into the wholesale market.
Savage X Fenty has seen massive growth since its founding in 2018, receiving $125 million in Series C funding as recently as January 2022.
The lingerie brand has gained viral popularity due to campaigns and partnerships with popular influencers, as well as four fashion shows that were streamed on Amazon's Prime Video.
Rihanna, whose real name is Robyn Fenty, officially became one of the world's richest female musicians in August 2021.
The singer and businesswoman, who also owns 50% of her namesake beauty line Fenty Beauty (the other half is owned by luxury conglomerate LVMH), is now worth an estimated $1.4 billion.
