By Val Kennedy,
Recording artist and fashion mogul Rihanna is reportedly eyeing an initial public offering for her lingerie brand Savage X Fenty that would value the company at $3B or more.
Rihanna, who’s real name is Robyn Rihanna Fenty, has been working with Goldman Sachs and Morgan Stanley on a possible IPO that could occur as early as this year, according to Bloomberg.
Bloomberg said representatives for the banks and Savage X Fenty didn’t immediately respond to requests for comment.
Savage X Fenty reportedly raised $125M in January through a funding round led by Neuberger Berman and joined by L Catterton, Avenir Growth Capital, Sunley House Capital Management and entertainment billionaire Jay-Z’s Marcy Venture Partners.
Rihanna’s fashion brand Fenty was launched by LMVH in 2019. Her other ventures include the highly successful Fenty Beauty cosmetics line and a new skincare line called Fenty Skin.
Source : https://seekingalpha.com/news/3812789-rihanna-reportedly-eyeing-ipo-for-lingerie-brand-savage-x-fenty