Rihanna Steps Down as CEO of Savage X Fenty, Hillary Super to Take Over the Billion Dollar Company

Soon-to-be mommy, Rihanna has taken a backseat and stepped down as CEO of Savage X Fenty. She has now handed over the reins of her lingerie brand to Hillary Super, the former CEO of Anthropologie Group. Vogue Business reports that the official handover will take effect from June 26. Rihanna will continue to lead the brand as executive chair.

In an exclusive statement to the coveted fashion and business magazine, Rihanna said, “​​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. 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.”

The new CEO, Super, has stepped in to help the lingerie brand achieve the milestones set to capture the global market. Savage X Fenty is currently looking to expand its reach beyond e-commerce. Since 2022, the loungewear company has successfully opened seven stores across the country - Los Angeles, Houston, Las Vegas, and Atlanta. Super plans to amplify the process on a worldwide level. The new CEO told Vogue Business, “I’m thrilled to join the Savage X Fenty family. The brand is a major powerhouse in the lingerie and apparel industry, and its unwavering commitment to celebrating inclusivity and fearlessness is inspiring.”

Super shared the update on her Instagram page with a caption, "Really pleased to finally be able to share that I am joining SavageXFenty as CEO and board member. New chapter starts Monday!" Hollywood Life notes that Fenty fans were quick to congratulate the new CEO on her Instagram post announcing the move. “They are lucky to have you, Hillary, although I’ll miss seeing all your baking as I’m sure you’re going to be very busy,” one fan wrote.

The Umbrella songstress and beauty mogul established the lingerie brand in 2018. Like her makeup line Fenty Beauty which was lauded for its inclusiveness, Savage X Fenty too received appreciation for creating nightwear in a wide range of sizes and skin tones.

According to People, Super has held top executive positions with high-end retailers like American Eagle, Guess, Gap, and Old Navy. In 2017, Hillary Super held an honoree position in the prestigious US Forty Women to Watch Over 40 list for her dedication to banishing stereotypes in fashion and for being an exceptional visionary in revitalizing the retail industry. 

Hiring an experienced CEO will definitely zoom the stock market presence of the lingerie brand. According to Billboard, the company registered an estimated profit of $125 million in 2022, raising its total funding to $310 million. Reports suggested that Savage X Fenty was working with banks for an initial public stock offering with an estimated $3 billion valuation. The company’s gains raised Rihanna’s personal net worth to a staggering $1.7 billion, as per Forbes, making her the second-wealthiest female entertainer just after Oprah Winfrey.