LVMH’s bet on Rihanna is paying off, big time, and success has been speedy.
The singer’s Fenty Beauty line, which the conglomerate first paid an estimated $10 million to create under its Kendo beauty division in 2016, is on track to beat out the revenues of other top celebrity lines including Kylie Jenner’s Kylie Beauty and Kim Kardashian’s KKW, according to a new report from Slice Intelligence.
The research firm found that, despite two-year-old Kylie Cosmetics having the highest yearly sales, first-month sales for Fenty Beauty were five times that of Jenner’s brand and 34 percent higher the following month.
Fenty Beauty is also said to be outpacing its sister Kendo brand, Kat Von D, a top-seller at Sephora.
Rihanna’s line didn’t officially debut until September, when executives from Sephora (also under the LVMH umbrella) called it “the most inclusive beauty brand in the world.” They weren’t exaggerating: The brand was dubbed an “Invention of the Year” by Time for offering 40 different foundation shades, far more than any of its competitors.
Fenty Beauty’s 40 foundation shades
As a result, the line’s darkest shades quickly sold out, which many attributed to the lack of other options on the market. Another product, its Gloss Bomb Universal Lip Luminizer, was marketed as a lip gloss that looks good on everyone.
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Although Slice Intelligence found that all four brands index well with diverse customers, Fenty led the charge with the most African-American and Hispanic shoppers.
Less inclusive brands should take note: Fenty Beauty’s customers are also the biggest spenders on beauty products in general, according to the report. They average $471 a year on makeup, compared to shoppers of Kat Von D ($371), KKW ($278) and Kylie Cosmetics ($181).
Customers who don’t shop from these four brands, on the other hand, are said to spend only $71 a year on cosmetics.
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Taken together, these brands are quickly gaining market share and giving traditional cosmetics companies a run for their money, accounting for 29.2 percent of all online beauty revenue in the U.S. But Fenty Beauty’s emphasis on diversity may set it up for even greater success than the rest: Despite their comparable buzz, Kylie Cosmetics, KKW and Kat Von D have all been shamed online for their lack of inclusive products, potentially ostracizing the fastest-growing consumer base in America.
