By CultureBanx Team
- Rihanna’s Savage X Fenty company’s ethics called into question after receiving a low score of 4 out of a possible 150 points putting it on par with FashionNova
- In just 5 years since its launch Savage X Fenty’s valuation has soared to an impressive $3B
Rihanna’s Savage X Fenty lingerie brand has been at the forefront of conversations for its rapid growth, innovative marketing, and bold stance on inclusivity. However, as the company positions itself for a possible initial public offering (IPO) potentially valuing it at $3 billion, it faces increasing scrutiny over its ethical practices that’s been rated lower than Shein.
Why This Matters: The success of Savage X Fenty is not just in its message but also in its financial growth. The brand reportedly generated an estimated $150 million in revenue in 2020. In just five years since its launch, the brand’s valuation has soared to an impressive $3 billion. This is a testament to its innovative business model and marketing strategy, which has successfully captured a significant share of the lingerie market.
Despite the success, Savage X Fenty has been called out for its alleged unethical and exploitative business practices. According to a report by the global fashion advocacy group, Remake, the brand’s growth trajectory and lack of transparency in its supply chain management have raised red flags.
The 2022 Fashion Accountability Report by Remake gave Savage X Fenty a low score of four out of a possible 150 points. The brand scored zero points for traceability, wages and wellbeing, commercial practices, raw materials, and environmental justice. The four points it did earn were for governance, putting it on par with other fashion brands criticized for poor ethical practices, including FashionNova, Primark, Boohoo Group, and ASOS.
Situational Awareness: Savage X Fenty has made a significant impact on the lingerie market with its inclusive and empowering messaging. However, its ethical practices have raised questions that the brand will need to address, especially if it plans to go public. As consumers become increasingly conscious about the ethical practices of the brands they support, the stakes are high for Savage X Fenty to demonstrate its commitment to ethical business practices. It remains to be seen how the brand will navigate these challenges in its journey to redefine the lingerie industry. Stay informed and stay trendy!CBX Vibe: “Consideration” Rihanna
