Earlier, we told you about Rihanna’s multi-million-dollar payday to perform at a pre-wedding party for the son of Indian billionaire Mukesh Ambani. Now, some are suggesting the “We Found Love” singer’s decision to take the gig was less about the music and more of a calculated business move.
You probably already know that Rihanna is one of the world’s richest entertainers, with a reported net worth of nearly $1.4 billion. But you may not know that the majority of that wealth comes from Fenty Beauty, the cosmetics brand she co-owns with French luxury goods company LVMH – not her hit singles.
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Now here’s where the Ambani connection comes in. As chairman of Reliance Industries, Forbes lists Mukesh Ambani as the richest person in Asia, with a net worth of over $117 billion. Reliance, which is India’s largest retailer, took over Sephora’s 26 stores in India from Arvind Fashions in November 2023.
“The partnership gives RRVL (Reliance Retail Ventures Ltd) exclusive rights to build and enhance Sephora’s presence in India across channels,” a company spokesperson said in a statement at the time.
Fenty Beauty products are currently available at Sephora stores throughout the U.S., Canada, Mexico, France, Spain, Denmark, Sweden, Thailand, Malaysia, Australia, Singapore and the Middle East.
But with Ambani’s help, Rihanna’s products could expand their footprint and take their place on shelves next to well-known brands like M.A.C, NARS and SMASHBOX in Sephora’s stores across India – a seriously boss business move, considering that India is one of the world’s fastest growing economies, according to CNBC. Additionally, India’s beauty market has grown from just over $12.3 billion in 2018 to over $15 billion in 2022, and is projected to reach $17.4 billion by 2025, according to Euromonitor International. And if all of that wasn’t enough, Fenty Beauty would be the first Black-owned brand in Sephora India stores. How’s that for networking?
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