Rihanna has resigned from the chief executive position at Savage X Fenty, the inclusive lingerie brand she founded in 2018.
The “Kiss It Better” singer will be succeeded by Hilary Super, who previously worked as the global CEO of Anthropologie Group.
The handover is effective as of June 26, according to Vogue Business.
Rihanna — who’s pregnant at 35 with baby No. 2, and whose net worth is estimated by Forbes at $1.4 billion — will reportedly remain in a leadership role as the brand’s executive chair.
“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 said in a statement to Vogue.
“This is just the beginning for us, and we’re going to continue to expand in ways that always connect with the consumer.”
Representatives for Savage X Fenty did not immediately respond to noti.group’s request for comment.
Rihanna founded the brand five years ago as an online-only shop with size-inclusive lingerie, sleepwear and loungewear.
The Barbados-born superstar holds a 30% stake in the company. She co-owns Savage X Fenty with luxury goods giant LVMH and Jay-Z’s Marcy Venture Partners.
In 2021, the company reached a $1 billion valuation after a successful Series B funding round where it raised $115 million, including from Marcy Venture Partners, according to Forbes.
Savage X Fenty debuted its first five brick-and-mortar stores in 2022 in Las Vegas, Los Angeles, Houston, Philadelphia and Washington, D.C., and has since added activewear to its offerings.
Rihanna also owns beauty brand Fenty Beauty.
She became a billionaire in 2021, and Forbes attributed much of her wealth to the success of her makeup brand, which is worth about $1.4 billion. The remaining $270 million comes from Savage X Fenty and her music career.
Rihanna’s companies’ names were derived from her surname, Fenty.
The performer will now hand the reigns over to Super, 51. “I’m thrilled to join the Savage X Fenty family,” the retail leader veteran, told Vogue Business.
“The brand is a major powerhouse in the lingerie and apparel industry, and its unwavering commitment to celebrating inclusivity and fearlessness is inspiring.”
Super was most recently Anthropologie Group’s CEO for more than four years, where she oversaw its fashion, home and bridal brands, Anthropologie, AnthroLiving, BHLDN and Terrain, according to her LinkedIn.
In 2017, she was listed on Forbes’ “40 Women To Watch Over 40” list.
[Written in collaboration with other media outlets with information from the following sources]
