The Rise of Artist-Owned Brands
Credit: Jesse Gouveia
Last week, you might have heard the news that Rihanna has officially become a billionaire. If you’d asked us 5 or so years ago what the significant contributor to her billionaire status would be, we probably would have said her award-winning, chart-topping music. But now, she’s part of the growing trend of artists reaping the benefits of expanding their business ventures past the confines of the music industry.
Rihanna is the CEO of the hugely successful Fenty brands, including Fenty, Fenty Beauty, Savage X Fenty and Fenty Skin. Aside from featuring on other artist’s releases, Rihanna hasn’t released new music since 2017. Her brands have kept her well and truly in the public eye though, with a helping hand from her appearances in films like ‘Ocean’s 8’, ‘Home’ and ‘Valerian and the City of a Thousand Planets’.
Frank Ocean is another artist who shared big brand news recently. He’s launched Homer, a luxury fashion line. Offering 25 pieces of jewellery and silk scarves, Ocean announced the news to Financial Times, who he told, “I didn’t want our work to be any less expensive than Cartier.” While Ocean has shared more new music than Rihanna over the past few years, he hasn’t dropped an EP or Album since ‘Blonde’, back in 2016.
Unlike Rihanna and Frank Ocean, Jack White has made headlines with his musically-focussed business venture. On September 25th, White will open the third of his Third Man Records stores. The store, which will be found in London’s West End, is the first of White’s stores outside of the United States, and will act as the Third Man Records European HQ.
According to Evening Standard, the venue’s aim is to create a physical space to keep vinyl sales and live performances alive. Just a few weeks ago, White also unveiled his new multimedia hub to showcase his art, which includes instruments, and expands beyond music, by including furniture, upholstery, hardware, sculpture and photography.
We of course don’t expect to see every artist launching their own brand, we’re intrigued to see if and how those who are fortunate enough to be able to they’ll seize the opportunity.
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