Rihanna's Savage X Fenty Brand Could Go Public This YearThe singer is reportedly working with Goldman Sachs Group and Morgan Stanley on a multi-billion-dollar IPO for her lingerie line.
On Thursday,Bloombergreported that singer and entrepreneurRihannais considering an initial public offering for lingerie company, Savage X Fenty. It's believed that the IPO could value her company at $3 billion or more and further her billionaire status.
The brand is reportedly working with banks including Goldman Sachs Group and Morgan Stanley, and a listing could go public as soon as this year. Savage X Fenty raised $125 million in Series C funding in January from investors that include one of Jay-Z's venture capital firms and a private equity firm backed by LVMH'sBernard Arnault. Its total funding now amounts to$310 million.
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Since the beginning of this year, Savage X Fenty has also been taking big steps to reach consumers in the brick-and-mortar space. The brand has two physical locations in Las Vegas and Los Angeles, with a plan to launch in cities such as Houston and Arlington.
can't believe it's actually that time, and I can't wait for you to have this experience irl…. our very first locations: Las Vegas, Los Angeles, Houston, Philadelphia, and Washington DC. watch the@SavageXFentyfeed for details
— Rihanna (@rihanna)January 7, 2022
A number of entrepreneurial ventures have catapulted Rihanna's net worth to$1.7 billion. Besides Savage X Fenty's launch in 2018, Rihanna's business portfolio also includes cosmetic companies Fenty Beauty and Fenty Skin.
Related:Business Lessons to Learn From Rihanna, the Woman of Mettle
