Rihanna didn't just build a lingerie brand. She basically staged a coup. Before May 2018, the "intimates" industry was dominated by a specific, very narrow idea of what sexy looked like. Then came Savage X Fenty, and suddenly the old guard—we’re looking at you, Victoria’s Secret—found themselves scrambling to stay relevant.
But who actually owns the keys to the kingdom?
It’s a more tangled web than a lace bodysuit. If you think Rihanna owns 100% of the company, you've got the wrong idea. While she is the face, the founder, and the undisputed creative engine, Savage X Fenty is a high-stakes joint venture. It’s a mix of celebrity power, venture capital, and a massive luxury conglomerate that decided to bet big on Bad Gal Riri.
The Power Players: Who Owns Savage X Fenty Today?
Honestly, the ownership structure of Savage X Fenty is a masterclass in modern business. It’s not just one person’s bank account. Instead, the brand is operated by Lavender Lingerie LLC, which is the legal entity behind the scenes.
Here is how the pie is actually sliced:
Robyn Rihanna Fenty remains the largest individual stakeholder. While private company percentages aren't usually taped to the front door, Forbes and other financial analysts have historically placed her stake at around 30%.
Then you have TechStyle Fashion Group. They were the original joint venture partner. If that name sounds familiar, it’s because they are the same folks behind Fabletics and JustFab. They provided the "boring" but essential stuff: the logistics, the membership model, and the e-commerce infrastructure that allowed the brand to scale from zero to global in record time.
The LVMH Connection
You can't talk about Fenty without talking about LVMH (Moët Hennessy Louis Vuitton). This is where it gets a little spicy.
LVMH and Rihanna have a deep, albeit sometimes complicated, relationship. While they famously shuttered her luxury fashion house (Fenty Maison) back in 2021, they doubled down on what was actually working: the lingerie. Through their affiliate private equity firm, L Catterton, LVMH owns a significant chunk of the business.
In early 2021, L Catterton led a Series B funding round that pumped $115 million into the company. By 2022, a Series C round brought in another $125 million, led by Neuberger Berman.
The Investor List is a Who’s Who of Wealth
It’s kinda wild when you look at who else is at the table. We’re talking about serious institutional money and some very famous friends.
- Marcy Venture Partners: This is Jay-Z’s firm. Yes, the man who "discovered" Rihanna is also an owner of her lingerie brand. Talk about full circle.
- Avenir Growth Capital: Early-stage backers who saw the vision before the first runway show.
- Abu Dhabi Growth Fund (ADG): International sovereign wealth money. This is when you know a brand has hit the big leagues.
- Sunley House Capital: An affiliate of Advent International.
Basically, when people ask "who owns Savage X Fenty," the answer is a cocktail of Rihanna’s creative genius and a wall of professional investors who helped value the brand at an eye-popping $3 billion during IPO discussions.
Is Savage X Fenty a Public Company Yet?
Short answer: No.
You can't go onto Robinhood or E*TRADE right now and buy "FENTY" stock. It’s still a private company. However, the rumors of an IPO (Initial Public Offering) have been swirling for years. In 2022, reports surfaced that Rihanna was working with Goldman Sachs and Morgan Stanley to prepare for a public debut.
So why haven't they pulled the trigger?
The market has been... let's say, finicky. Going public is a massive headache. Once you’re public, you have to answer to thousands of shareholders and report every tiny detail of your finances every three months. For a brand that thrives on "drops" and hype, the secrecy of being private is a huge advantage.
The "Hillary Super" Shift: A New Era of Leadership
A huge misconception is that Rihanna is still the CEO. She isn't.
In June 2023, Rihanna made the boss move of stepping down as Chief Executive Officer. She handed the reins over to Hillary Super, the former CEO of Anthropologie Group. Rihanna stayed on as Executive Chair, which basically means she still calls the shots on the "vibe" and the vision, but Hillary handles the day-to-day corporate grind.
Interestingly, in late 2024, Hillary Super actually left the brand to become the CEO of Victoria’s Secret. If you want proof of how much Savage X Fenty has "won" the lingerie war, there it is: the old industry leader hired the CEO of the disrupter to save them.
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Why the Ownership Structure Matters to You
You might be thinking, "Cool, some rich people own a bra company, why do I care?"
It matters because of the VIP Membership model. Because Savage X Fenty is backed by TechStyle, they use a "membership commerce" system. This is why you see two different prices on the website. The owners want recurring revenue, not just one-off sales.
This model has been controversial. The brand has faced legal scrutiny over how clearly they explain their monthly charges. When a company is owned by private equity firms like L Catterton, there is an intense pressure to show growth and "active members." That’s why the marketing is so aggressive—the owners are looking for that $3 billion exit.
What Most People Get Wrong
People often confuse Fenty Beauty and Savage X Fenty. They are completely different companies with different ownership structures.
Fenty Beauty is a 50/50 joint venture between Rihanna and Kendo Holdings (an LVMH incubator). Savage X Fenty is a much broader group of investors. If you buy a lipstick, the money goes to one place; if you buy a pair of leggings, it goes somewhere else entirely.
What’s Next for the Savage Empire?
We are currently watching the brand move from a purely online "disrupter" to a physical retail powerhouse. They’ve been opening brick-and-mortar stores across the U.S.—from Las Vegas to Philadelphia. This move into physical retail is expensive, which explains why they keep raising hundreds of millions of dollars.
The ultimate goal? Almost certainly a sale or an IPO. Whether LVMH eventually buys out Rihanna's partners to own the whole thing, or the company hits the New York Stock Exchange, the current ownership structure is designed for a massive payday.
If you’re looking to get involved or just stay savvy about where your money is going, here is what you should do:
- Check your subscriptions: If you're a "VIP" member, remember that you are part of a data-driven membership model owned by TechStyle. Set a calendar reminder for the 5th of every month to "skip the month" if you don't want to be charged.
- Watch the IPO news: If the company does go public, it will likely be one of the biggest fashion events of the decade.
- Monitor the CEO seat: With Hillary Super gone to the competition, the next person Rihanna hires as CEO will signal whether the brand is going back to its "scrappy" roots or doubling down on corporate expansion.
Savage X Fenty isn't just a lingerie line; it’s a high-value piece of corporate real estate. Rihanna owns the soul of it, but the "owners" are a complex grid of global financiers betting that inclusivity is the most profitable trend in history.