Fenty Beauty and Fenty Skin cosmetic products owned by singer and businesswoman, Robyn Fenty Rihanna have officially launched in Kenya.
Spearheading the launch was Nikita Kering an Award-winning Kenyan singer Nikita Kering at Lintons stores in The Hub in Karen, as well as other of the stores’ locations in Nairobi.
The entry of Rihanna’s skincare products into the local market underlines the growth of the Beauty and Personal Care Industry which, according to the Kenya National Bureau of Statistics has grown by 400 per cent in four years.
The 2022 KNBS Economic Survey indicates that the cosmetic industry grew from Shs26 billion in 2017 to over Shs 100 billion in 2021.
“I’ve been waiting for this moment!! @fentybeauty & @fentyskin are finally dropping on AFRICA!!! we comin at ya May 27th and that’s just the beginning!!!Fenty Africa,” the pop star, billionaire and Fenty owner, Rihanna wrote on her Instagram account.
According to Rihanna, the makeup line focuses on a wide range of traditionally hard-to-march skin tones, creating formulas that work for all skin types, and pinpointing universal shades.
The makeup line will also be launched in Botswana, Ghana, Namibia, South Africa, Zambia, and Zimbabwe.
Rihanna is also set to publicly list her company, Savage X Fenty, as reports state she is working with a team of advisors on an initial public offering (IPO), which values the lingerie brand at $3 billion. Though Savage X hasn’t made a final decision on the IPO and its adjoining plans or confirmed these rumours, the company is reportedly working with Goldman Sachs and Morgan Stanley to make the listing available on the stock market later this year.
In January 2022, the company raised $125 million in a funding round led by Neuberger Berman with participation from prior investors, L Catterton, Avenir Growth Capital, Sunley House Capital Management, and Jay-Z’s Marcy Venture Partners, as reported by Bloomberg