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.
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.
No no no don’t do it, designer and high St don’t stand the test of time, keep it safe and oringal
Go riri so proud of you waiting to see you here in Florida.thank you for your support with women of all colors and sizes.
God bless you for this kind gesture,please help me, I was supposed have started running a lesson class to help myself, my family and the children around my neighourhood whose parents can not afford to pay their school fees but there no money for me to set it up, I really need this help and will be greatful if I am among the people you will be blessing tomorrow with this money, God bless you richly
I’m from Osun State… Please I need it help to start business doing because my father and my mother is late and no one’s to help me again. Please I just need your assistance please