Fenty has made Rihanna 'the wealthiest female musician in the world' Proving diversity pays

Forbes has reported that R&B star Rihanna’s clothing and makeup line Fenty has made her “the wealthiest female musician in the world.”

In an article published this month, the business magazine said the Barbados-born singer and actress is now worth $1.7 billion, putting her second behind only media mogul Oprah Winfrey as the richest female entertainer in the world.

$1.4 billion of that fortune comes from Rihanna's cosmetic company, Fenty Beauty, according to Forbes, while her lingerie line, Savage Fenty, is worth $270 million.

Rihanna's success with her beauty line comes down to consumers not previously having a cosmetic line that caters to them.

Since its launch in 2017, Fenty Beauty, which puts a focus on inclusivity, has brought in more than $550 million in annual revenue, outshining fashion and cosmetic brands from other celebrities including Kim Kardashian West, Jessica Alba and Kylie Jenner, Forbes has reported.

Bluestock Advisors co-founder Shannon Coyne told Forbes that Rihanna's success with her beauty line comes down to consumers not previously having a cosmetic line that caters to them.

"A lot of women felt there were no lines out there that catered to their skin tone. It was light, medium, medium dark, dark,” Coyne said. “We all know that’s not reality. She was one of the first brands that came out and said, ‘I want to speak to all of those different people.'"

The “Umbrella” singer, who hasn’t released an album since 2016’s "ANTI," had previously told Forbes that she and French luxury goods conglomerate LVMH had to shut down their joint venture high-end house — also called Fenty — due to the ongoing COVID-19 pandemic.

Source: Express