Multiply Group, an Abu Dhabi-based holding company and subsidiary of International Holding Company, has invested $25 million in lingerie brand Savage X Fenty. The brand, which was launched in 2018 by Rihanna, has not only been growing in generated revenue but is also known for its strong focus on inclusivity. Partner brand Fenty Beauty, which was launched a year before the lingerie line, first made waves for catering to a wide variety of skin tones in its make-up range, and Savage X Fenty followed suit with extensive sizing options and diverse representation for models featured in shows and marketing. The investment in early 2022 indicates a shift from 2021, when start-up investments in the MENA region for those founded by women dropped to 1.2%.

As people demand more diversity and make conscious buying choices based on companies’ DEI efforts, an investment in the famously minority-led Fenty brand promises a move towards inclusivity in the MENA region and showcases an opportunity for companies to participate by similarly building partnerships that platform and support diverse voices. Doing so can lead to both commercial benefits – such as wider appeal as well as a connection to new customers – and increase loyalty and trust with a brand’s consumer base. Tiffany, similarly, launched a brand refresh accompanied by partnerships with Beyoncé and Jay-Z, among others, to reposition its image and identity in the luxury sector.