Rihanna’s Fenty Beauty valued at $72 million in first month
JORDANNAH ELIZABETH | 11/2/2017, 4:32 p.m.
R&B pop star turned business executive Rihanna has quickly found herself on another pillar of success after the official launch of her makeup line, Fenty Beauty. The new beauty brand has raked in $72 million in one month, making a huge statement in the beauty and fashion industry. This Black-owned makeup line has become fierce competition overnight.
Essence.com reported, “Fenty Beauty was the biggest brand on Instagram, Facebook and Twitter during its first month.” However, estimated market value is not the same as sales (the brand has yet to release official sales numbers) but is the value of the media earned, or said another way what it would cost if one was to have
paid for the exposure.
The boundary breaking beauty brand also dominated YouTube. According to a press release from the video-streaming platform, people watched Fenty Beauty-related videos more than 132 million times—Jackie Aina, Patrica Bright, and Nyma Tang are a few of the best tutorials for Black women.
Rihanna was able to use the power of social media to get the word out about her brand, which is geared toward making quality makeup and beauty products for women of color. But this venture is not her first time working at a high level outside the music industry. The 29-year-old entrepreneur was named Creative Director of the athletic brand Puma in 2014. She has also been a frequent tastemaker at New York Fashion Week and the Cannes Film Festival.
She has poised herself to become a force of nature in business by learning the ins and outs of the fashion industry, along with taking advantage of social media marketing and maintaining a reputation of class, intelligence and fearlessness. Fenty Beauty is a brand specifically for Black women and women of color, which is a market that certainly needs more attention, quality and diversity. Congratulations to Rihanna and her ability to stay true to her culture while succeeding in the upper echelons of the business world.