Rihanna, the pop star-turned-beauty mogul, is set to launch a new hair care product line, Fenty Hair, further expanding her already successful beauty empire. The announcement was made on Tuesday, marking the latest addition to the Fenty Beauty brand that has contributed to Rihanna’s billionaire status.
Key Facts:
Fenty Hair will debut on June 13, offering a flexible line of products designed to strengthen and repair all types of hair. Although specific products have not yet been disclosed, Rihanna shared the news with her followers on Instagram, generating significant buzz.
The global hair care market is projected to grow by $19.6 billion, reaching $107.5 billion from 2022 to 2027. This growth is largely driven by social media advertising and influencers, as consumers show increasing interest in hair repair products, according to market research firm Technavio.
Fenty Beauty has capitalized on social media for its advertising, with increased spending on platforms like Facebook, Instagram, and TikTok in recent years, as reported by Sensor Tower data.
Forbes Valuation:
Rihanna boasts a net worth of $1.4 billion, making her the 23rd wealthiest self-made woman in the U.S., according to the latest estimates by Forbes.
Key Background:
Rihanna, 36, attributes her billionaire status largely to her beauty and clothing lines. She launched Fenty Beauty in 2017 in partnership with French luxury goods conglomerate LVMH, owning an estimated 50% of the company as of 2021. The cosmetics brand expanded with Fenty Skin in 2020 and Fenty Fragrance in 2021. Her brands primarily target diverse audiences and women of color, with some products also available for men. Additionally, Rihanna holds a 28% stake in the lingerie company Savage x Fenty.
Beyond her business ventures, Rihanna has achieved significant success in her music career, winning nine Grammy Awards and selling over 250 million records. She holds the third-most No. 1 songs on the U.S. Billboard Hot 100, with hits like “We Found Love,” “Work,” and “Needed Me.”
What to Watch For:
Rihanna hinted earlier this year that she would be releasing a new album, describing it as “amazing.” Although her last album was released in 2016, fans eagerly await her next musical project, which she has suggested might be released soon.