Rihanna Launches Fenty Beauty for Nigeria and 7 Other African Countries
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Rihanna recently announced that she is launching her brand, Fenty Beauty in Nigeria and some other African countries.
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This announcement comes just as the company prepares to launch a $3 billion IPO.
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In 2020, Fenty generated more than $550 million in revenue.
On Tuesday evening, superstar singer and cosmetics expert, Rihanna announced that her brands, Fenty Beauty and Fenty Skin would be launching in Nigeria and some other African countries on May 27, 2022. The launch was disclosed in a statement released via her official Twitter account.
The announcement comes just as Fenty plans on launching a $3 billion IPO.
The music superstar couldn’t hide her excitement as she tweeted about the launch. In her tweet, she claimed that she had been waiting for this moment.
The beauty brands will first launch in Nigeria, Kenya, Namibia, Botswana, Ghana, Zambia, South Africa, and Zimbabwe
She further said that this was just the beginning and there are plans for expansion.
Her tweet reads:
“I’ve been waiting for this moment!!, acknowledging that her brands, Fenty Beauty and Fenty Skin are finally dropping in AFRICA
“Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa, Zambia, Zimbabwe…we comin at ya May 27th and that’s just the beginning.”
At the moment, Fenty Beauty is planning to raise about $3 billion in an IPO.
In January, $125 million was raised, and this funding was led by Neuberger Berman with participation from former investors like Avenir Growth Capital, Jay-Z’s Marcy Venture Partners, L Catterton, and Sunley House Capital Management.
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Fenty Beauty boasts of over 40 foundation shades which is larger than the normal palette. Meanwhile, Savage X features clothe sizes from XS to 4XL.
According to Forbes, Rihanna is valued at $1.7 billion, due to the rising value of her fashion brands. In 2020 alone, her company generated more than $550 million in revenue.
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