Rihanna has launched her new lingerie label Savage x Fenty. The brand already sells its underwear through retail stores and e-commerce websites such as Net-a-Porter and Amazon. Now, the company wants to go public. Is this a good move?
Savage x Fenty is a division of Rihanna’s luxury fashion house Fenty Beauty, which was founded in 2016. In 2017, the brand posted sales of £10 million ($13.5 million). Last year, Rihanna bought a stake in the company.
Rihanna has partnered with investment bank Goldman Sachs to prepare for an initial public offering (IPO) that could raise up to $1.5 billion (£1.2 billion), according to reports. If successful, the sale could value the company at around $3 billion ($4 billion).
The singer reportedly plans to use the money from the IPO to invest in other businesses. She also wants to create a fund that will give grants to entrepreneurs who are trying to make their own products or services.