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Rihanna’s Savage x Fenty lingerie boutique is coming to New York

Rihanna’s lingerie will soon be make an appearance in New York.

Savage x Fenty, the digital intimate apparel and loungewear company co-founded by the megastar, has signed a 10-year lease to open a West Brooklyn flagship in New York’s Triangle Building near the Barclays Center, according to sources close to the company.

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A look at the first Savage x Fenty store, which opened in Las Vegas in January.  - Credit: courtesy photo

A look at the first Savage x Fenty store, which opened in Las Vegas in January. – Credit: courtesy photo

Courtesy picture

Space – nestled between the neighborhoods of Park Slope, Boerum Hill and Prospect Heights at 182 Flatbush Avenue in Brooklyn – will be Savage’s largest physical store yet at approximately 6,100 square feet spread over three floors. It is also the retailer’s first standalone store, outside of a mall.

Additionally, the New York City Savage store will be located within walking distance of one of Brooklyn’s busiest subway stations, the Atlantic Avenue Terminal, surrounded by streetwear brands like Kith, as well as Target, Adidas, Uniqlo and Apple, among others. retailers. It is also across from the Victoria’s Secret store inside the Atlantic Terminal Mall at 139 Flatbush Avenue.

Digital lingerie brand Savage x Fenty is opening physical stores, like this store in a mall.  - Credit: courtesy photo

Digital lingerie brand Savage x Fenty is opening physical stores, like this store in a mall. – Credit: courtesy photo

Courtesy picture

Sources say the exterior facade of the Triangle building will be branded with the bold colors, logo and other Savage x Fenty marketing materials. The building, which Hidrock Properties bought in 2019 for around $7 million, haswere usually branded with Nike marketing materials.

Savage x Fenty did not respond to requests for comment regarding the planned store. But sources say construction on the space has begun and will take at least a few months to complete – and the original asking rental price was $650,000 a year. The transaction is being handled by real estate companies Compass Commercial and Lantern Real Estate. Neither company responded to requests for comment.

Inside the first Savage x Fenty store.  - Credit: courtesy photo

Inside the first Savage x Fenty store. – Credit: courtesy photo

Courtesy picture

Rihanna revealed plans to move the lingerie brand – which she co-founded online in 2018 with TechStyles Fashion Group (the same company that launched Kate Hudson’s Fabletics) – offline in January, opening the company’s first physical store the same month in Las Vegas, with Instagram-worthy backdrops such as a wall of models, floor-to-ceiling images of the pop star, and numerous sets of bras, underwear, and sleepwear on display for buyers to touch and smell. At the time, the company said four more physical locations were in the works.g later in the year in Los Angeles, Houston, Philadelphia and Washington, D.C.

“Retail will give us the opportunity to better serve our current members, as well as acquire new customers,” Christiane Pendarvis, Co-President and Head of Merchandise at Savage, said the same month, during the virtual retail conference ICR 2022. “We are taking our approach and leveraging the data we have to create a competitive advantage with our model. So we were able to pick locations where we have a high density of existing VIPs and ensure we have the right foot traffic to drive the revenue from each new location.

Rihanna attends an event for her Savage x Fenty lingerie line at the Westin Bonaventure Hotel in Los Angeles on August 28, 2021. - Credit: Jordan Strauss/Invision/AP

Rihanna attends an event for her Savage x Fenty lingerie line at the Westin Bonaventure Hotel in Los Angeles on August 28, 2021. – Credit: Jordan Strauss/Invision/AP

Jordan Strauss/Invision/AP

Then, during Super Bowl weekend in February, an enclosuret Rihanna, accompanied by rapper and record producer boyfriend A$AP Rocky, surprised fans by making an unannounced appearance at the brand’s Culver City, Calif. store opening, the second store in the fleet.

Meanwhile, the size-inclusive lingerie brand continues to gain ground, thanks in part to Rihanna’s star power, the brand’s promise to offer a brand of loungewear for all body types and a lot of attention from investors.

In January, it was revealed that Savage, which spun off from TechStyle to become a standalone company at the end of 2019, got another $125 million. The latest round, led by investment firm Neuberger Berman, adds to the $115 million Series B round that Savage secured in early 2021, which was led by private equity firm L Catterton and backed by LVMH. Moet Hennessy Louis Vuitton.

This brings the lingerie startup’s total funding to approximately $310 million, with additional investors including Avenir, Sunley House Capital, Advent International, Jay Z’s Marcy Venture Partners, LionTree, Abu Dhabi Growth Fund and Multiply. Group on board.

In addition to brick-and-mortar stores, Pendarvis told ICR that Savage plans to use the additional funds to expand internationally, as well as adding to the assortment with new categories, such as clothing. loungewear, swimwear, shapewear, homewear and unisex underwear.

In December 2020, rumors swirled that Rihanna and her team were woo potential investors to the tune of an additional $100 million in an effort to expand the Savage x Fenty business into activewear. Men’s basics have already been added to the assortment, in September 2020.

Private enterprise has been tight-lipped on annual revenues. But Savage representatives said the company has seen a compound annual growth rate of 150% in revenue each year.

“These are things we’re looking for on our roadmap to help us drive growth over the next few years,” Pendarvis told ICR. “And then there are additional litters [in other countries around the world] that we just haven’t tapped into yet, which really extends into the eastern balance Europeas well as China. When you think of the opportunity behind retail and what that’s going to open up for us, as well as opportunities for category expansion, as well as opportunities for geographic expansion, that’s a very, very clear path for us to continue to drive very, very strong growth over the coming years. So the future looks wild and we are just getting started.

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