Savage X Fenty
- 🦄Became a unicorn~2021
- 📈Peak valuation$1 Billion ’21
- 💔Became a Unitard~2023
- 💸Last valuation~$500M
How it happened
Savage X Fenty is Rihanna's US lingerie and apparel brand, which reached a ~$1B valuation around 2021 on rapid subscription-driven growth. As DTC valuations compressed and the company faced operational challenges, third-party estimates marked its value down by roughly half, dropping it below unicorn status. Glassdoor reviews from the 2023-25 markdown stretch describe morale sliding through repeated layoff rounds — several longtime employees counted three to five rounds in as many years — alongside heavy turnover at the top, with reviewers describing frequent leadership reshuffles, one counting three CEOs in about six months. Insiders also pointed to frozen promotions, paused raises and constantly shifting priorities as teams ran lean.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Mutual-fund markdowns
5 funds · SEC NPORT-PHow U.S. mutual funds fair-value this still-private company in their quarterly SEC filings.
| Fund | Class | $/sh | From peak | As of |
|---|---|---|---|---|
| Neuberger Berman Long Short Fund | Preferred | $11.82 | +0% | Jan 2026 |
| Neuberger Berman Next Generation Connectivity Fund Inc. | Preferred | $11.82 | +0% | Oct 2025 |
| Neuberger Next Generation Connectivity Fund Inc. | Preferred | $2.41 | -80% | Apr 2026 |
| Neuberger Large Cap Growth Fund | Preferred | $2.41 | -80% | Feb 2026 |
| Neuberger Long Short Fund | Preferred | $2.41 | -80% | Apr 2026 |
Source: SEC EDGAR Form NPORT-P (Level-3 fair-value marks). Per-share marks reflect the fund’s own valuation of a specific share class and aren’t a company-wide valuation. Last refreshed Jun 2026.
Source: PitchBook estimate, reported by CNBC (Jun 2026)
