Rihanna Reportedly Set To Launch Fenty IPO
Who’s ready to purchase some Fenty stock? Rihanna is reportedly in preparation to launch her lingerie brand, Savage X Fenty, to the public which will allow users to purchase Fenty stock.
According to Bloomberg, the singer-turned-entrepreneur is in talks with advisors from banks such as Goldman Sachs and Morgan Stanley that could value the lingerie brand at $3 billion or more.
A listing could happen as soon as this year but Savage X Fenty has not made a final decision on its plans.
Savage X Fenty has been expanding with its own brick-and-mortar stores and now lists five locations, including Culver City, California, and Las Vegas, on its website.
The brand has picked up a loyal fan base due to its inclusive sizing and breathtaking fashion shows. The company believes having a brick-and-mortar store for their customers is the next step for the brand, “On the heels of the brand’s incredible growth since first launching in 2018, this new direct-to-consumer experience is the next step to bringing a fuller expression of the brand to consumers in key markets,” the company said in a press release per Ebony.
The Grammy-winning artist has several business ventures under her belt including Fenty Beauty, Fenty Skin, and the former high-end luxury brand, FENTY, previously under fashion conglomerate, LVMH.
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