Rihanna's Savage x Fenty lingerie brand is now worth $1 billion. According to Forbes, a round of Series B funding raised $115 million for the company's upcoming expansion into retail, led by private equity firm L Catterton, in which LVMH Moët Hennessy Louis Vuitton has a stake.
In a statement from the company Savage x Fenty saw revenue growth of more than 200% last year and "increased its active VIP member base by more than 150%."
Prior to the latest funding round, Rihanna's estimated stake in the company was $85 million.
