Last week, Rihanna announced Fenty Eau de Parfum, a new $120 fragrance. It’s not Rihanna’s first fragrance, but it’s the first with the Fenty name.
The brand expands. Fenty has now covered cosmetics, lingerie, fashion, skincare, and now fragrances. Customers now expect inclusivity and affordability with all Fenty products.
This also makes it easy to identify future extension opportunities. Somewhere in Rihanna’s office, I bet there’s an old school 2×2 BCG-style matrix with affordability and inclusivity as the two axes. One end of the spectrum has Walgreens drug store products and the other has BCBG-level products. Fenty finds its underserved sweet spot in each sector and makes moves.
The Fentyverse. Eventually, I expect Fenty to launch a virtual brand that’s only available in digital environments like Fortnite and Roblox.
Last week, I wrote about how Virgil Abloh is launching a virtual clothing brand. Based on Virgil’s past products, we know that brand gonna be expensive AF. In June, a virtual Gucci bag in Roblox sold for $4,115, 20% higher than the physical bag sold for. If you see avatars in Roblox or Fortnite wearing shirts that say “SHIRT,” you know they dropped several Virgils on that!
This will create another market opportunity for Rihanna. Let the high-end fashion designers maximize the willingness to pay in digital environments. Fenty can stick to its affordable inclusive energy. Plus, if Ariana Grande’s Fortnite concert is a success, it may attract more women in these gaming experiences, which will increase the total addressable market for virtual Fenty customers.
So… when’s that next Rihanna album coming? Probably no time soon, and I don’t blame her.
Read more about Fenty Eau de Parfum in The Cut.