Singer Rihanna’s lingerie company weighs $4 billion in IPO

NEW YORK (BLOOMBERG) — Singer-turned-fashion entrepreneur Rihanna is working with advisers on an initial public offering (IPO) that could value her lingerie company Savage X Fenty at US$3 billion (S$4 billion) or more , according to people familiar with the matter.

Savage X Fenty works with banks including Goldman Sachs Group and Morgan Stanley, said the people, who asked not to be identified because the information is private.

A listing could take place as early as this year, one of the people said. Savage X Fenty hasn’t made a final decision on an IPO, and its plans, including timing, could still change, the people said.

Representatives for Savage X Fenty, Goldman Sachs and Morgan Stanley did not immediately respond to requests for comment.

The company raised $125 million in January in a round led by Neuberger Berman, with participation from former investors L Catterton, Avenir Growth Capital, Sunley House Capital Management and American rapper Jay-Z’s Marcy Venture Partners. , according to data provider PitchBook.

Robyn Rihanna Fenty was born in Barbados and signed with Def Jam records in 2005, producing a string of hit albums over the next decade.

His business holdings also include Fenty Beauty, which made waves in the industry when the makeup company launched in 2017, and Fenty Skin. Both of these companies, along with Savage X Fenty, aim to provide products to customers often overlooked by traditional brands. Fenty Beauty, for example, offers over 40 shades of foundation – a much wider palette than the norm – while Savage X offers sizes ranging from XS to 4XL.

Savage X Fenty has expanded with its own brick-and-mortar stores and now lists five locations, including Las Vegas and Culver City in California, on its website.

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