She is the first woman to create a fashion house with luxury behemoth LVMH.
At just 31 years old, nine-time Grammy-winner Robyn Rihanna Fenty is a one-woman empire, with deals in music, film, fashion, and cosmetics minting a reported $600 million every year. In May, her portfolio got even bigger: The native Barbadian became the first woman to create an original fashion label with French luxury behemoth LVMH—and the first woman of color to run one. Fenty is a patented line of clothes, shoes, and accessories designed to complement the entertainer’s already successful makeup line, Fenty Beauty, which reportedly pulled in $570 million last year. The artist is designing her new clothing line--the first new fashion house created by LVHM in over 30 years--to operate solely via e-commerce, without runway shows or flagship boutiques. It will also offer up to size 14 U.S., a more inclusive range than is typically shown on Fashion Week runways. It’s a fitting gesture for an artist who’s building her fashion label in her own image--to “thrive beyond traditional boundaries.” --Zoë Henry
The IPO of her luxury resale site proves that even high-end shoppers like a second-hand bargain.
That vintage Dior saddlebag you’ve coveted? Julie Wainwright bet big that you’d sidestep eBay to buy it on her site, the RealReal. During a period of eight years, the former CEO of Pets.com raised a stunning $358 million to hire more than 100 gemologists, horologists, and other experts to build the leading authenticated luxury retail site. Along the way, she formed a partnership with Stella McCartney and received honors from Parson’s School of Design for her commitment to innovation and sustainability. Like many direct-to-consumer efforts, the RealReal has also opened physical stores where shoppers can ogle almost-affordable (at least to some) fashion and accessories in person. She took her company public in June. --Kimberly Weisul
S by Serena
The spoils of her $225 million tennis empire fund female CEOs.
With 23 Grand Slam titles and an estimated $225 million fortune, Serena Williams has dominated the tennis world for some time. Lately, she’s been working on ways to parlay her brand--and her 30-odd million social media followers--into new wins. In 2018, she launched fashion line S by Serena and patented cosmetics brand Aneres. Perhaps most impressively, the sports icon has quietly scattered an estimated $6 million in investments across more than 30 startups over the past five years. Five of her investments are reportedly up at least five-fold, and the value of her portfolio has reportedly doubled to more than $10 million. In April, Williams and former JPMorgan asset manager Alison Rapaport announced the launch of her eponymous fund, Serena Ventures. The vision: to support (and generate returns from) startups run by women and people of color. Its portfolio includes women’s co-working space the Wing, sculptwear startup Honeylove, and kids clothing site Rockets of Awesome. --Zoë Henry
She's brought acupuncture to a new audience: wellness-obsessed Millennials.
Michelle Larivee, co-founder of health and wellness company WTHN, turned to acupuncture for a couple reasons: to ease her back pain following a ski accident, and to help her get pregnant. "I always say I have two babies at the same time, my acupuncture baby, and my son, Sam," says Larivee. "I mean, this for me was just truly transformative." The former investment banker and consultant opened an acupuncture studio in New York City in 2018 that became profitable after just three months. This year the company, which has raised $2.5 million, launched a selection of blended herbs with names such as Dream On for sleep, and Can't Touch This for an immune system boost. Larivee says the company should hit $2 million in revenue this year. She’s planning more studios in New York and is looking to expand to cities such as Boston, San Francisco, and Washington, D.C. --Brit Morse
She makes smart socks to help patients manage chronic illness.
Many people with diabetes have nerve damage in their feet, which prevents them from feeling injuries that can become infected and lead to amputations. Siren’s flagship product, launched last year, is socks with embedded sensors that detect temperature increases, a sign of inflammation. That data is transmitted via an app on the wearer’s phone to health care providers. The socks are machine-washable and look and feel like regular socks, co-founder Ran Ma says. Patients get five new pairs every six months; insurers cover the cost, because the socks prevent even costlier medical complications. In December, the San Francisco company published peer-reviewed research on the socks’ effectiveness. “I’ve had people tell me feet aren’t sexy,” Ma says. “Diabetes isn’t sexy. The elderly are not sexy.” But she’s pushing ahead, armed with more than $10 million in funding. She adds: “My definition of sexy is creating a profitable business and saving lives.” --Sophie Downes