On Wednesday LVMH and Rihanna released a statement that said that they had jointly made a decision to “put on hold” in Europe the “ready-to-wear” activity until there were better conditions. Although this is a setback, sources who prefer to remain anonymous say that Rihanna’s company is planning to go public by the end of the year, with the help of advisers such as Goldman Sachs, Morgan Stanley and others.
Bloomberg reported that they had been told by sources that the company could be valued at three billion dollars. However, there has been no specific sharing of the news as the final decision is pending. The time line could also be different and the company and the advisers have not responded when asked for comment, by multiple outlets.
Launched in 2018, the company makes luxury lingerie items and is known for its inclusivity as it caters to different body types and sizes. It is also gender inclusive and has created shows to advertise the brand and of course its founder Rihanna also promotes Savage Fenty. She reportedly owns 30 percent of the company.
Fenty Beauty has a wide selection of foundation shades that cross over 40 allowing several customers to find the shade that suits them. This range is much wider than what is offered by other companies who make beauty products.
Savage X Fenty is also an inclusive brand as it offers lingerie from sizes XS to 4XL. According to its website it lists availability of its products in five stores across the nation.
Earlier this year in January the company raised $125 million. Investors included Neuberger Berman
as well as investors who had already participated in previous funding rounds.
Rihanna is a popular singer as well as a savvy businesswoman. In 2021, she became a billionaire thanks to her Fenty beauty brand. Forbes estimates her worth to be $1.7 billion. If and when Savage X Fenty goes public, her fortunes will see a greater upswing.
Image SavageFenty Instagram
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