Music superstar and cosmetics guru, Rihanna has announced that her brand Fenty Beauty would be launching in Nigeria alongside 8 other African countries on the 27th of May.
Rihanna disclosed this in an online statement on Tuesday evening.
The announcement comes just before Fenty plans to launch a $3 billion IPO.
What Rihanna is saying
She tweeted “I’ve been waiting for this moment!!, acknowledging that her brands, Fenty Beauty and Fenty Skin are finally dropping in AFRICA
“Botswana, Ghana, Kenya, Namibia, Nigeria, South Africa, Zambia, Zimbabwe…we comin at ya May 27th and that’s just the beginning.”
Fenty Beauty is currently seeking to raise $3 billion in an IPO, after raising $125 million in January in a funding round led by Neuberger Berman with participation from previous investors L Catterton, Avenir Growth Capital, Sunley House Capital Management and Jay-Z’s Marcy Venture Partners,
Fenty Beauty boasts of 40-plus foundation shades – a much wider palette than the norm – while Savage X features sizes from XS to 4XL.
Forbes also values Rihanna at $1.7 billion, thanks to the rising value of the Fenty brands. Fenty Beauty generated more than $550 million in revenue in 2020.