Savage x Fenty secures $125 million in new funding
The Savage x Fenty lingerie brand has secured $125 million in new funding,
Founded by pop start Rhianna, the company is also opening its first physical store with the launch of a shop in Las Vegas this week.
According to a report by Forbes, the new funds are the result of a Series C funding round led by Neuberger Berman. Other participants included previous investors L Catterton, Avenir, Sunley House Capital, Advent International and Marcy Venture Partners, as well as newcomers Abu Dhabi Growth Fund, LionTree and Multiply Group.
Launched in 2018, Savage x Fenty is joint venture between Rhianna and TechStyle Fashion Group, the owner of Fabletics and Just Fab.
The brand is also planning to open stores in Los Angeles, Houston, Philadelphia and Arlington in the first quarter of 2022.