Superstar singer Rihanna‘s body-inclusive lingerie brand, Savage X Fenty, is reportedly considering plans to go public in a deal that could value the company at some $3,000,000,000.00
According to Bloomberg, though no final decision or timing for an IPO has been made, the under-garment brand is in early discussions with Goldman Sachs and Morgan Stanley.
Rihanna’s underwear brand has been making inroads in the American lingerie industry since it’s 2018 launch with its body and gender-inclusive marketing, buzzy runway shows, and extended sizing. Born Robyn Rihanna Fenty, the musician, who founded the brand and is currently its CEO and creative director, reportedly owns a 30% stake in the company.
Savage X Fenty raised $125 million in funding earlier this year and opened its first stores in the US putting it in direct competition with lingerie powerhouse Victoria’s Secret, which is in the midst of a major turnaround effort after years of sliding sales and pressure from critics to update its “outdated” brand image.
Though Rihanna is best known for being a musician and actress, her business ventures – which also include beauty brand Fenty – enabled her to reach billionaire status in 2021. According to Forbes estimates, she is currently worth $1.7 billion.
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Author: Al Denté
Photo: Danilo Lauria