Sunday, November 27, 2022

Singer Rihana to launch her luxury skincare products in Kenya


Fashion

Singer Rihana to launch her luxury skincare products in Kenya


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International pop star turned billionaire businesswoman Rihanna. PHOTO | COURTESY

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Abstract

  • The Kenya launch of the Fenty Magnificence and Fenty Pores and skin cosmetics products which are backed by French luxury items group LVMH will coincide with comparable launches in 4 different African markets.
  • The wonder and private care market in Africa is tipped to develop by $1.26 billion (Sh144.9 billion) between 2021 and 2025, in accordance to statistics.
  • Rihanna’s magnificence firm, of which the Paris-based group LVMH owns the opposite half, is understood for its broad vary of fifty pores and skin tones.

International pop star turned billionaire businesswoman Rihanna has introduced plans to open her new skincare and sweetness products line in Kenya.

The Kenya launch of the Fenty Magnificence and Fenty Pores and skin cosmetics products which are backed by French luxury items group LVMH will coincide with comparable launches in 4 different African markets from later this month, the Barbados-born “Diamonds” singer, whose beginning identify is Robyn Fenty, introduced on Tuesday.

“I’ve been ready for this second. Fenty Magnificence and Fenty Pores and skin are lastly dropping in Africa,” she mentioned on her verified Twitter deal with. “Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa, Zambia, Zimbabwe we’re coming at you on Could 27,” she added.

The Enterprise Each day couldn’t instantly get extra particulars from Ms Rihanna or her representatives on the deliberate Kenya launch. The Kenya entry of her luxury line of cosmetics would take the struggle to different luxury manufacturers in search of a bit of the fast-growing multi-billion shilling cosmetics market pie.

The wonder and private care market in Africa is tipped to develop by $1.26 billion (Sh144.9 billion) between 2021 and 2025, in accordance to statistics.

In accordance to information from Datamonitor, the worldwide gross sales stood at $170 billion in 2011 with the most important good points being realised from skincare products which account for 27 to 31 p.c of the worldwide gross sales. Others are hair care and perfume.

Rihanna’s magnificence firm, of which the Paris-based group LVMH owns the opposite half, is understood for its broad vary of fifty pores and skin tones, together with darkish shades for ladies of shade, which have been uncommon when it launched in 2017. This made it a frontrunner in inclusivity in the trade catapulting the singer into large wealth.

The singer of “Umbrella” and “Love the Approach You Lie” ranks second behind American media mogul Oprah Winfrey because the richest feminine entertainer, due to her wildly profitable ventures into style and sweetness, Forbes mentioned earlier.

Her $1.7 billion {dollars} (Sh195.5 billion) web value is owed to the success of her beauty model Fenty Magnificence, which she co-owns with French luxury retailer LVMH.

In accordance to Forbes, the wonder product empire generated greater than $550 million (Sh63 billion) in income in 2020.

The singer additionally owns a 30 p.c stake in the Savage x Fenty lingerie line, which raised cash at a $1 billion (Sh115 billion) valuation in February final yr.

In an interview with The New York Occasions, the singer and businesswoman, who has been declared the world’s richest feminine musician, mentioned that she remains to be getting used to her new monetary standing.

“It’s tough as a result of it’s onerous to even settle for that’s the place you’re at as a result of I do know the place I’ve come from,” she was quoted saying.

“On the similar time, it feels good to have the ability to encourage younger girls and boys, who like me, come from humble beginnings, who come from dad and mom who’re immigrants or who’re immigrants themselves, to have the ability to do that.”

Forbes, in the newest record of worldwide billionaires, launched by the US enterprise journal in April, ranked the singer at 1,729.

The 36-year-old, who’s at present anticipating her first youngster, can be Barbados’ first billionaire.

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