Artist in Focus
Rihanna becomes wealthiest female musician in the world, bulk of fortune from Fenty Beauty
Rihanna is now officially a billionaire, the wealthiest female musician in the world, with a bulk of the monumental fortune coming from her successful venture – Fenty Beauty. A large portion of the pop star’s wealth also comes from her ultra-successful lingerie line Savage X Fenty, which is worth an estimated $270 million.
Fenty Beauty, as per Variety, has joined the ranks of other successful celebrity-founded beauty brands when it was first launched, such as Kylie Jenner’s Kylie Cosmetics, Kim Kardashian West’s KKW Beauty and Jessica Alba’s Honesty Beauty. But Fenty Beauty has given them a run for their money by bringing in more than $550 million after the first calendar year in 2018.
Shannon Coyne, Co-Founder of Bluestock Advisors, told Forbes that one of the keys to Rihanna’s success, has been marketing products to women of all shapes, sizes and skin shades. “She was one of the first brands that came out and said ‘I want to speak to all of those different people’. A lot of women felt there were no line out there that catered to their skin tone. It was light, medium, medium dark, dark. We all know that’s not reality.”
Rihanna’s Fenty Beauty prides itself on a wide range of products that flatter all skin tones. The same can be stated about its long-wearing lipsticks, which glide on with a ultra-soft matte finish for a weightless color that will enhance any makeup look. Moreover, its products come in diverse range of colors, foundation is offered in 50 shades, including harder-to-find darker shades for women of color, and are modeled in its advertising by an equally diverse group of people.
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While Barbados-born Rihanna isn’t the only celebrity to capitalize on her social media presence, she has 101 million followers on Instagram and 102.5 million on Twitter. To build a beauty brand, the Umbrella singer is the most successful beauty entrepreneur to do so.
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