TOPLINE
Rihanna—the pop star-turned-beauty mogul—is launching a new hair care product line, she announced Tuesday, the latest expansion to the beauty brand that made Rihanna a billionaire.
INVISION
KEY FACTS
Fenty Hair—an addition to the Fenty Beauty line—will release on June 13 with a “flexible line of products” that are “designed to strengthen and repair all types of hair,” though she did not specify what products would be offered, Rihanna wrote on Instagram.
The global hair care market is expected to grow by $19.6 billion to $107.5 billion from 2022 to 2027, with social media advertising and influencers largely contributing to the growth as consumers become increasingly interested in hair repair products, acording to the market research firm Technavio.
Rihanna’s Fenty Beauty focuses its advertising on social media, including increased spending for ads on Facebook, Instagram and TikTok in recent years, acording to Sensor Tower data.
FORBES VALUATION
Rihanna has a net worth of $1.4 billion, making her the 23rd wealthiest self-made woman in the U.S., according to our latest estimates.
KEY BACKGROUND
Rihanna, 36, largely owes her billionaire status to her beauty and clothing lines. She launched Fenty Beauty in partnership with the French luxury goods conglomerate LVMH in 2017, owning an estimated 50% of the company as of 2021. The cosmetics brand launched the skincare line Fenty Skin in 2020 and the perfume brand Fenty Fragrance a year later. Rihanna’s brands have largely targeted more diverse audiences and women of color, in addition to some products for men. Rihanna also owns 28% of lingerie company Savage x Fenty. Beyond those business ventures, Rihanna has won nine Grammy Awards and has sold over 250 million records. She has the third-most No. 1 songs on the U.S. Billboard Hot 100 across her career, including “We Found Love,” “Work” and “Needed Me.”
