Rihanna, who is famous all over the world for her music, has announced that she will step down as CEO of her very successful beauty and fashion business. Rihanna’s time as CEO has been marked by groundbreaking collaborations and the promotion of inclusive beauty standards. She is known for her creative ideas and entrepreneurial energy.
The multi-talented artist said she wanted to try new creative things and work on philanthropic projects. She was thankful for the valuable experiences she got while she was in charge. As everyone waits to see what Rihanna does next, her legacy as a pioneer in both the music and business worlds stays strong.
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Rihanna Steps Down as CEO
According to a story from Vogue Business, Rihanna is stepping down as CEO of her lingerie company Savage X Fenty, and Hillary Super, the former CEO of the Anthropologie group, will take over.
The official account of Billboard shared a post on Twitter:
Rihanna Steps Down as Savage X Fenty CEO https://t.co/ljnozsRQYq
— billboard (@billboard) June 23, 2023
Along with her other businesses, such as her makeup line Fenty Beauty, the brand has been a huge success for Rihanna, helping to propel her into the billionaire ranks in 2021. She is one of the richest women in the entertainment industry according to Forbes, which estimates her net worth at $1.4 billion this year.
The singer will continue to serve as Fenty X Savage’s executive chair, as noted by Vogue Business. Next week, Super, who announced her new position on Linkedin, will begin serving as CEO. The action is being taken as Savage X Fenty, which secured $125 million last year, continues to grow outside of its direct-to-consumer business.
In 2018, Savage X Fenty was introduced. Due to Rihanna’s star power and its emphasis on diversity in terms of size and skin tone, it was able to fill a gap left by older, established businesses like Victoria’s Secret.
“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 in a statement to Vogue. “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.”