Beauty Takeover: Rihanna Taps Into $14 Billion African Beauty Market

CBx Vibe:Brown Skin Girl” Beyonce, WizKid, SAINt JHN & Blue Ivy

By CultureBanx Team

  • Rihanna’s Fenty Beauty and Fenty Skin is coming to Africa
  • 43% of Africans across the continent will belong to the middle or upper classes with growing discretionary incomes

Business mogul and entertainer Rihanna is taking her cosmetics empire to Africa with Fenty Beauty and Fenty Skin touching down on the continent. The products will be sold in key countries such as Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa and Zambia-Zimbabwe. Fenty’s Africa launch is a reaction to the growth of the continent’s beauty and personal care industry which could reach $14 billion in 2022, oiled by a steady rise in disposable incomes among the continent’s middle class.

Why This Matters: Growing discretionary incomes will lead to higher demand for high-quality, niche, and foreign-produced goods, according to the Brookings Institute. Not to mention that 43% of Africans across the continent will belong to the middle or upper classes, making this market ripe for a Fenty Beauty and Fenty Skin takeover.

“I am a proud Bajan who also feels a close connection to Africa, and its people. Now, being able to bring Fenty Beauty and Fenty Skin to eight African countries and then hopefully more in the future – means so much to me” Rihanna said.

Fenty Beauty has already experienced immense success as it generated $558 million in its first full year in operation. Now, it’s entering Africa at the right time, the Brookings Institute points out, due to the continent’s changing demographics and improving business environments across the continent will be just two of the factors contributing to rising household consumption, which is predicted to reach $2.5 trillion by 2030.

What’s Next: Customers in Africa will be able to immediately pick up the latest products from Rihanna’s cosmetics brand. Fenty Beauty and Fenty Skin are set to launch across Africa this month on May 27.

CBx Vibe:Brown Skin Girl” Beyonce, WizKid, SAINt JHN & Blue Ivy

CONTRIBUTOR

CultureBanx Team

Welcome to CultureBanx, where we bring you fresh business news curated for hip hop culture!