Rihanna, the youngest female singer, songwriter, and self-made billionaire in America, impresses fans with her substantial assets. She currently owns globally renowned cosmetic and fashion brands.
When Rihanna’s name is mentioned, fans immediately associate her with a talented American singer. She has spent numerous years cultivating a solid artistic career, becoming so renowned that fans marvel and admire her. Not only has she thrived in the music industry with numerous hits over the years, but Rihanna has also garnered prestigious titles such as “the wealthiest female singer and musician in the entertainment industry” and “the youngest self-made female billionaire in America.”
Starting her journey as a girl from a disadvantaged and fractured family, Rihanna’s achievements today are truly commendable. She has built a flourishing artistic career and earned numerous prestigious awards.
Additionally, the singer of the famerous song “Umbrella” has established a business empire. She serves as the founder and chief executive officer of her own cosmetics and fashion brand. Presently, Rihanna is actively involved in all three of her companies: Fenty Beauty, Fenty Skin, and Savage X Fenty. Notably, she holds a 50% stake in a company that generated $550 million in revenue in 2020.
Presently, Rihanna’s expansive business empire, combined with her music earnings, has amassed her a fortune of $1.7 billion USD. What approaches has this female singer employed in her career building and development? The following five factors shed light on Rihanna’s astute business acumen:
Diverse designs and sizes
From the outset of her foray into the business arena, Rihanna emphasized the diversity of her product offerings. Upon launching Fenty Beauty in 2017, the singer introduced 40 distinct shades of foundation, ensuring compatibility with a wide range of skin tones from around the world.
Get involved in every detail
While many individuals merely lend their reputation when engaging in projects, Rihanna distinguishes herself by being fully committed to all of her endeavors, meticulously overseeing even the smallest details.
Diversify income sources
It’s evident that Rihanna’s ambitions extend beyond just one industry. Despite achieving significant success in the music industry with her albums and tours, Rihanna continues to expand her ventures. She has amassed enough wealth to repurchase her songs and subsequently earn royalties and streaming revenue from them.
Cooperation is an important lever
During her career journey, Rihanna has prioritized collaboration as a key component of success. Embracing the philosophy of “If you want to go far, go together,” the singer has forged strong partnerships with various collaborators. Notably, she teamed up with the luxury conglomerate LVMH to launch Fenty Beauty.
Bring experience to customers
Delivering exceptional customer experiences persists a timeless strategy. Rihanna frequently facilitates interactions between customers and brands, fostering discussions, introductions, and encouraging purchasing behaviors.
