Rihanna’s Savage X Fenty lingerie line could be valued at $3,000,000,000 in plans to go public

metro.co.uk:

Rihanna is reportedly working with advisers to take her Savage X Fenty lingerie brand public.The fashion star and Diamond hitmaker – who is absolutely slaying her pregnancy style lately – could make the move with an initial offering potentially valuing the company at $3 billion – that’s NINE zeros.As reported by Bloomberg, sources have said the firm is working with banks like Morgan Stanley and Goldman Sachs to determine its worth and get an idea of the demand.Although a listing could take place as soon as this year, the company is yet to make an official call on when – or even if – it plans to go public.An initial public offering (IPO) sees a company go from private to public ownership with stocks issued to the public, which lets the firm raise funds and grow.Back in January, Savage X Fenty – which launched in 2018 as an online-only brand – raised $125 million in a fundraising round which was led by Neuberger Berman.This reportedly included previous investors including L Catterton, Avenir Growth Capital, Sunley House Capital Management and Jay Z’s Marcy Venture Partners.RiRi herself is reportedly worth $1.7 billion, with around $1.4 billion of that coming Fenty Beauty, of which Forbes reports she owns 50%.To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 videoShe has taken over the cosmetics and fashion world with her own empire, ranging from Fenty Beauty and Fenty Skin to Savage x Fenty and luxury fashion house Fenty.The latter was opened under French conglomerate LVMH Moet Hennessy Louis Vuitton in 2019, but last month Vuitton announced it had ‘jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions’.Back in.