Rihanna's body-inclusive lingerie brand, Savage X Fenty, is reportedly mulling plans to go public in a deal that could value the company at $3 billion
Rihanna's underwear brand Savage X Fentyis reportedly considering an IPO.
- According to Bloomberg, the deal could value the company at $3 billion.
According to Bloomberg, which was first to report the
Rihanna's underwear brand has been making waves in the lingerie market in the US since it launched in 2018 with its body and gender-inclusive marketing, buzzy runway shows, and extended sizing. Rihanna, who founded the brand and is currently its CEO and creative director, reportedly owns a 30% stake in the company.
Earlier this year, it raised $125 million in funding and opened its first stores in the US. The company said at the time that it also plans to open stores in Europe in the future.
Its new stores put the brand in direct competition with lingerie powerhouse Victoria's Secret, which is in the midst of a major turnaround effort after years of sliding sales and pressure from critics to update its "outdated" brand image.
Though Rihanna is best known for being a musician and actress, her business ventures – which also include beauty brand Fenty – enabled her to reach billionaire status in 2021. According to Forbes estimates, she is currently worth $1.7 billion.
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