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Savage X Fenty, the lingerie brand co-owned by music star Rihanna and investors including LVMH, has a new CEO. Rihanna, who has held the position since she founded the lingerie brand in 2018, is stepping down from the role to be replaced by Hillary Super, former CEO of Anthropologie Group.
The switch is effective from 26 June. Rihanna, whose personal net worth is estimated at more than $1.4 billion, remains in a leadership role as executive chair.
“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 says. “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.”
Super was global CEO at Anthropologie Group for four years and previously held leadership positions at retailers, including Guess, American Eagle, Gap and Old Navy. “I’m thrilled to join the Savage X Fenty family,” she says. “The brand is a major powerhouse in the lingerie and apparel industry, and its unwavering commitment to celebrating inclusivity and fearlessness is inspiring.”
She joins Savage X Fenty as the brand seeks to expand its retail footprint beyond e-commerce, developing further into bricks-and-mortar and kickstarting wholesale. Since early 2022, Fenty has opened seven stores in US cities, including Los Angeles, Houston, Las Vegas and Atlanta.
It makes sense, given that the direct-to-consumer (DTC) e-commerce model isn’t as surefire as it once was. On the shift, the brand said in a statement: “We have a highly engaged customer base with our DTC model, and also recognise that there is opportunity for us to expand further by meeting customers where they are and offering other avenues of accessibility.”
The company raised $125 million in January 2022 in a Series C funding round with participation from previous investors L Catterton, Avenir Growth Capital, Sunley House Capital Management and Jay-Z’s Marcy Venture Partners. Exploratory plans for a $3 billion IPO were widely reported in early 2022, but the company said it was “unable to comment on speculation” when asked about it by Vogue Business.
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