Fashion phenom Ms. Robyn Rihanna Fenty is in talks with financial advisors from Goldman Sachs Group and Morgan Stanley in an initial public offering (IPO) that estimates her Savage X Fenty lingerie brand could be worth over $3 billion, Bloomberg reported.
An IPO refers to a privately owned company going public on the stock exchange, in which the general public could then purchase its stock, according to Forbes.
While Rihanna has yet to make a definitive decision on an IPO, sources close to the billionaire superstar say a listing could happen this year.
Savage X Fenty recently fundraised $125 million, sponsored by investors Neuberger Berman, L Catterton, Avenir Growth Capital, Sunley House Capital Management, and Jay-Z’s Marcy Venture Partners.
Although it looks like the beauty mogul is seemingly done releasing music after 2016’s Anti, her pursuit at entrepreneurship has been nothing but fruitful as she navigates motherhood and philanthropy.
As previously reported, the opening of Savage X Fenty stores came in a Twitter announcement in late January. Christiane Pendarvis, co-president and chief merchandising and design officer at Savage X Fenty, said that the brand’s new brick-and-mortar locations “will be our own physical stores. Initially, they all will be in the U.S., but we’re absolutely having conversations around what does that expansion potentially look like in the EU [European Union].”
The Savage X Fenty website lists five retail locations across the U.S. including an already open store in Culver City, California; with Las Vegas, Arlington, Houston, and King of Prussia, Pennsylvania, set to open this month and in April.
The Barbados “bad gal” additionally heads makeup company Fenty Beauty, which set the makeup industry ablaze at its launch in 2017, as well as Fenty Skin, praised for its large range of foundation shades, something not seen within traditional makeup brands.
It seems as though the Fenty empire is only just getting started.