Singer Rihanna has been named as the “World’s Richest Female Musician” by the Forbes magazine with an estimated fortune of $600 million with the bulk of that coming from her Fenty beauty range.
She’s overtaken Madonna and Beyonce, who previously topped the list, the BBC reported.
You could be forgiven for forgetting Rihanna even makes music – her last studio album Anti came out in 2016.
However, the 31-year-old has been putting her efforts into her beauty, lingerie and clothing ranges.
Rihanna – real name Robyn Rihanna Fenty – launched Fenty Beauty in September 2017 and it’s estimated it racked up sales of $100 million in its first few weeks. The Forbes estimates that the company generated $570 million last year.
Experts say Rihanna’s invested her money wisely.
“Globally the entire beauty industry is worth $480 billion – in 2018 the UK market was valued at $17 billion,” said Hannah Symons, Global Beauty Manager at Euromonitor International.
Hannah’s job is to track the growth of the beauty industry – looking for trends.
“Rihanna’s success clearly doesn’t come off the back of the music although that’s how she initially gained fame.
“It’s all about her relevance and how she resonates with customers online. She’s very connected to her fans through social media and she’s always updating them on the newest products and things like launch dates,” Hannah added.
As well as her beauty range, Rihanna also has a lingerie line and recently made history by becoming the first woman to have a clothing range with French company Moët Hennessy Louis Vuitton (LVMH).
Hannah thinks part of Rihanna’s success is she’s appealing to a very wide audience. (IANS)
