Rihanna's Lingerie Savage X Fenty - IPO At $3 Billion Valuation

By THOUSIF INC

Rihanna works with advisers on an initial public offering that could value her Savage X Fenty lingerie company at $3 billion or more.

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

One of the people said a listing could happen as soon as this year.

Savage X Fenty has not decided on an IPO, and its plans, including the timing, could still change, the people said.

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

A representative for Goldman Sachs declined to comment.

In January, the company raised $125 million in a funding round led by Neuberger Berman.

Previous investors L Catterton, Avenir Growth Capital, Sunley House Capital Management, and Jay-Z's Marcy Venture Partners to data provider PitchBook.

Robyn Rihanna Fenty signed with Def Jam records in 2005, producing a string of hit-filled albums over the next decade.

Her business holdings also include Fenty Beauty, which made waves in the industry when the makeup company was launched in 2017, and Fenty Skin.

Along with Savage X Fenty, those two companies aim to provide products to customers whom traditional brands often overlook.

Fenty Beauty, for example, boasts 40-plus foundation shades, a much broader palette than the norm, while Savage X features sizes from XS to 4XL.

Savage X Fenty has been expanding its brick-and-mortar stores and now lists five locations, including Culver City, California, and Las Vegas.

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