Sources have revealed that singer and fashion entrepreneur Rihanna is currently in discussions with advisers regarding taking her lingerie company Savage X Fenty public. The initial offering could possibly value the brand at $3 billion and banks like Goldman Sachs and Morgan Stanley have been approached to assess its worth and measure demand. There is a possibility that the listing could occur this year, but no official decision has been made yet. An IPO process involves converting private ownership to public ownership by issuing stocks to the general public that allows the company to expand its business and generate more funds. At 34 years of age, Rihanna became a billionaire in August 2020, making her the wealthiest female musician globally and the second richest female entertainer after Oprah Winfrey. Forbes reported that the majority of her earnings, amounting to $1.7 billion, originated from her beauty and lingerie ventures over the past decade.
Rihanna, a renowned fashion icon and musician, is collaborating with advisors to launch her lingerie brand, Savage X Fenty, through an initial public offering (IPO) that has the potential to value the company at $3 billion.
The organization is collaborating with financial institutions such as Goldman Sachs and Morgan Stanley to determine its monetary value, and there might be a possibility of going public in the current year. The brand’s advertisements feature Rihanna as the model.
According to a report by Forbes last August, the popular singer Rihanna, who is 34 years old, has earned a whopping $1.7 billion in her career of ten years. The majority of her wealth, amounting to $1.4 billion, is derived from her cosmetics line Fenty Beauty, in which she holds a 50% stake, partnering with luxury goods conglomerate LVMH. The company’s total worth is now $2.8 billion. Besides her cosmetics line, her lingerie line Savage X Fenty also contributes significantly to her wealth, with her 16-year recording career as a singer and actress adding to the total sum. Born in Barbados, Rihanna was discovered by American record producer Evan Rogers in her home country in 2003. He sent her demo to Def Jam Recordings, and it eventually reached the desk of Def Jam’s president Jay-Z, who invited her to perform. From there onwards, Rihanna became one of the best-selling music artists globally, having sold over 250 million records worldwide, with hits like Pon de Replay, Umbrella, SOS, Unfaithful, Good Girl Gone Bad, and Don’t Stop the Music.
