Rihanna’s popular lingerie brand Savage X Fenty is considering an IPO. Bloomberg reports that Savage X Fenty plans to go public in a deal that could value the company at $3 billion.
Savage X Fenty is working with banks such as Goldman Sachs and Morgan Stanley. Reportedly, a listing could happen very soon, but no final decisions regarding an IPO have been made as of yet. Earlier this year, the brand raised $125 million in funding and opened its first stores in the U.S. Savage X Fenty may also consider European stores in the future.
Rihanna’s billion-dollar underwear brand was launched in 2018, specifically as an online-only retailer. The brand is widely praised for its body positive campaigns and gender inclusivity. The popstar mogul currently serves as CEO and creative director of Savage X Fenty, and owns a 30% stake in the company.
According to Business Insider, Savage X Fenty was valued at $1 billion in 2021. Rihanna’s other business ventures include Fenty Beauty, Fenty Skin, and the luxury fashion house Fenty, which is under French conglomerate LVMH.