Rihanna considers taking her billion-dollar company Savage X Fenty public
Rihanna considers taking her billion-dollar company Savage X Fenty public.
Rihanna, the singer turned billionaire in a move that could value her company at over $3 billion is working with Morgan Stanley and Goldman Sachs on an initial public offering of her lingerie brand, Savage X Fenty, according to Bloomberg.
Currently, the lingerie company has raised $310 million in funding. It started the year by announcing a new funding round of $125 million led by Neuberger Berman to fund its physical stores in the United States and to support its expansion plans to other countries.
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The billionaire first launched Fenty beauty her make-up line in 2017, an all-inclusive makeup line that included women and persons of all colours with various makeup shades. The make-up products not only included people of colour but focused on them, a major difference from various popular brands which were created to tend to lighter skin.
This was a very good move as the four-year-old makeup company was valued at $2.8 billion. Diversity is a major foundation upon which the Fenty brand operates and it’s the same foundation upon which Savage X Fenty was created and marketed.
- The company marketed its lingerie as lingerie for everyone, using models of every category; transgender, plus-size, dark-skinned, light-skinned, slim, Ultra-thin, celebrities, Non-celebrities and little people for its shows and posting pictures of these models across all of its social media platforms.
- This not only helped in the sales but presented a refreshing idea on how lingerie should be seen and worn. After years of the major lingerie brands using only ultra-thin and mostly white models, Fenty beauty is doing something new and every one no matter the body size or skin colour or sexual orientation could see themselves in a Savage X Fenty lingerie.
- Not only is the product diverse and inclusive, but it is also very affordable with products going for as low as $5.
- Rihanna has racked up a personal net worth of $1.7billion – making her the richest female musician in the world and second richest female entertainer after Oprah
Rihanna’s stake at Savage X Fenty is 30% which is worth an estimated $270 million. Forbes predicts that if the company does its Initial Public Offer at a $3 billion valuation, her stake would increase to $990 million.
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