ABU DHABI: UAE’s Multiply Group PJSC, has invested AED 92 million ($25 million) in Rihanna’s Savage X Fenty.
Multiply Group is Abu Dhabi-based tech-focused holding company with global presence across five industries, including automotive, utilities, capital, wellness and communications.
The investment is made through its wholly owned subsidiary, MG Wellness Holding LLC.
Savage X Fenty launched in 2018 by Rihanna to celebrate fearless individuality and broaden the definition of what is beautiful.
Since its inception, it has experienced a revenue CAGR of 150%. Savage X Fenty is a lingerie brand founded by Barbadian singer Rihanna that emphasizes confidence and inclusivity, and is designed for all genders, sizes, and backgrounds. Along with lingerie, the line features bras, underwear, sleepwear, and loungewear.