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Rihanna's Savage X Fenty Reportedly Weighing IPO That Could Takes Its Valuation To $3B

Business for Rihanna’s Savage X Fenty has been booming as of late. In January, AfroTech previously shared that the lingerie brand raised $125 million in a Series C funding round — bringing its total venture capital funding to $310 million. The round included participation from Neuberger Berman, L Catterton, Avenir, Sunley House Capital, and Jay-Z’s Marcy Venture Partners. According to Savage X Fenty co-presidents Christiane Pendarvis and Natalie Guzman, the new funding is for “retail domination.” The brand’s evolution continues as Rihanna is reportedly looking to take it public. According to Bloomberg, the business maven has been “working with advisers on an initial public offering” that could possibly take Savage X Fenty to a valuation of $3 billion or more. The banks that her company is said to be working with is Goldman Sachs Group Inc. and Morgan Stanley, according to the outlet’s sources. The listing could go into effect this year, but nothing has been publicly confirmed yet by...

Ngozi Nwanji

Mar 11, 2022