Savage X Fenty Empowers Change: Rihanna Passes CEO Torch to Hillary Super for Next-Level Expansion
Savage X Fenty, a lingerie brand co-founded by music sensation Rihanna and backed by investors such as LVMH, has announced a change in leadership. Rihanna, who has been CEO since the brand's inception in 2018, will step down to make way for Hillary Super, the former CEO of Anthropologie Group. The transition is set to take place on June 26, with Rihanna assuming the role of executive chair.
In a statement released by Vogue Business, Rihanna expressed her excitement about the brand's progress and the upcoming expansion. "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. "This is just the beginning for us, and we're going to continue to expand in ways that always connect with the consumer. I'm so grateful and excited to welcome Hillary Super as our new CEO — she is a strong leader and is focused on taking the business to an even higher level."
Hillary Super brings a wealth of experience to her new role, having served as the global CEO at Anthropologie Group for four years. Before that, she held leadership positions at renowned retailers, including Guess, American Eagle, Gap, and Old Navy. Super expressed her enthusiasm for joining the Savage X Fenty family, acknowledging the brand's influential presence in the lingerie and apparel industry. She also praised the brand's commitment to inclusivity and fearlessness.
Super's appointment is pivotal for Savage X Fenty as it seeks to expand its retail presence beyond e-commerce. The brand aims to establish a brick-and-mortar footprint and embark on wholesale initiatives. Since early 2022, Savage X Fenty has opened seven stores in prominent US cities in Los Angeles, Houston, Las Vegas, and Atlanta.
The decision to venture beyond the direct-to-consumer (DTC) e-commerce model aligns with the brand's strategy to cater to customers' evolving needs and preferences. While Savage X Fenty has enjoyed a highly engaged customer base through its DTC approach, the brand acknowledges the potential for further growth by diversifying its accessibility and meeting customers where they are.
The company secured $125 million in a Series C funding round in January 2022 to support its expansion plans. This funding round saw participation from existing investors such as L Catterton, Avenir Growth Capital, Sunley House Capital Management, and Jay-Z's Marcy Venture Partners. Although speculative reports emerged in early 2022 regarding a potential $3 billion IPO, the brand refrained from commenting.
With Hillary Super at the helm and Rihanna guiding the brand as executive chair, Savage X Fenty is poised to continue revolutionizing the lingerie industry. As the brand expands its retail footprint and explores new avenues, consumers can anticipate even greater inclusivity, fearlessness, and innovation from this major powerhouse. The partnership between Rihanna and Super sets the stage for exciting developments in the months and years to come.
