Rihanna reportedly eyeing IPO for lingerie brand Savage X Fenty

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

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