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Saturday, December 9, 2023

Rihanna Steps Down as Savage X Fenty CEO


Savage X Fenty has a new CEO. rihanna will step down as CEO of the lingerie brand she co-owns with LVMH on June 26, fashion business Report.

“It’s been great to see our vision for Savage X Fenty have had such an incredible impact on the industry over the past five years,” Rihanna, who founded the line in 2018, told the outlet. “This is just the beginning for us, and we’ll continue to expand in a way that’s always in touch with consumers.”

While Rihanna will remain executive chairman of the company, former Anthropologie Group CEO Hillary Super will take over as CEO, the outlet reported.

“I am so grateful and excited to welcome Hilary Super as our new CEO,” Rihanna added. “She is a strong leader who is committed to taking the business to the next level.”

Meanwhile, Super told the press that she is “excited to be joining the Savage X Fenty family.”

“The brand is a major force in the lingerie and apparel industry,” she added, “and its strong commitment to inclusivity and fearlessness is inspiring.”

Earlier this month, Rihanna ranked 20th exist ForbesList of richest self-made women in America with a net worth of $1.4 billion. Her success is due in part to her 30% stake in Savage X Fenty, which was valued at $1 billion in February 2021, according to the outlet. The outlet also cited Fenty Beauty, Rihanna’s Super Bowl halftime performance and the release of her Academy Award-nominated song “Lift Me Up” as reasons for her wealth.

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