The Kenya Forum | Rihanna's Fenty Cosmetic Brand Launching in Africa - The Kenya Forum

May 12, 2022

Summary

According to Forbes, Rihanna is worth $1.7bn (£1.2bn), with an estimated $1.4bn coming from the value of Fenty Beauty, where she owns a 50% stake in the company.

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Rihanna’s Fenty Cosmetic Brand Launching in Africa

Rihanna’s Fenty Cosmetic Brand Launching in Africa

Rihanna’s Fenty Cosmetic Brand Launching in Africa

Popular musician and entrepreneur Rihanna has announced that her Fenty Beauty and Fenty Skin products will be available in eight African countries, including Kenya from the end of this month!

Rihanna, while announcing the milestone in a tweet, said she has been “waiting for the moment”, adding that it’s “just the beginning”.

I’ve been waiting for this moment!! @fentybeauty & @fentyskin are finally dropping in AFRICA!!! Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa, Zambia, Zimbabwe” Rihanna announced in a tweet.

In Kenya Rihanna’s Fenty beauty skincare products will be stocked at Lintons.

The star launched Fenty Beauty in 2017 in a partnership with luxury goods company LVMH (Moët Hennessy Louis Vuitton). Fenty Beauty launched in 1,600 stores across 17 countries.

The singer then maintained that the aim of Fenty was to appeal to “every type of woman” with “all skin tones”.

“In every product, I was like: ‘There needs to be something for a dark-skinned girl; there needs to be something for a really pale girl; there needs to be something in-between,” she said during media interviews.

The brand has been lionised by makeup lovers and  artists as one that provides the “much needed diversity in skincare products”,  an apsect that is credited for the tremendous growth of the Fenty brand.

Starting with Fenty Beauty foundation, face primer and Gloss Bomb, she launched a makeup line “so that people everywhere would be included,” focusing on a wide range of traditionally hard-to-match skin tones, creating formulas that work for all skin types, and pinpointing universal shades”. Reads a section of the brand story on the company’s website.

The business is also reportedly the one that has made Rihanna join the billionaires club. According to Forbes, Rihanna is worth $1.7bn (£1.2bn), with an estimated $1.4bn coming from the value of Fenty Beauty, where she owns a 50% stake in the company.

The company reportedly made $100m (£72m) in its first 40 days.

Cosmetic/Beauty Industry

The global beauty industry market is valued at $511 billion in 2021 with projections of hitting $716.6 billion by 2025. The Asia-Pacific and North America regions account for more than 60% of the global cosmetics market.

The US cosmetic market alone is worth a staggering $62.46 billion.

As of 2021, the French cosmetics company L’Oréal was the leading beauty manufacturer in the world, generating revenues of about 34 billion U.S. dollars that year. The company owns the leading personal care brand worldwide, L’Oréal Paris, valued at 29.5 billion U.S. dollars in 2020.

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