Rihanna intends to issue its lingerie brand. According to a Bloomberg News report, the singer and businesswoman has approached banks like Goldman Sachs and Morgan Stanley ahead of a $ 3 billion first public offering (IPO) of the Savage X Fenty brand. Those close to the issue, who asked to remain anonymous, claimed that the offering could start this year. However, they noted that no official decision has yet been made on the matter and the plan could change. No response was received from the company and the banks.
The company raised $ 125 million in January in a round of capital raising led by Newberger Berman. Among the other investors – JZ’s Marcy Venture Partners.
Rihanna, or in her full name Robin Rihanna Penti, was born in Barbados and in 2005 signed to the record company Page Jam. On the business side, it has established the Panty Beauty cosmetics brand launched in 2017 and the Panty Skin. Both of these brands along with the lingerie brand offer a wide range of shades and sizes to suit all types of women. For example, Penti Beauty offers over 40 shades of makeup, a much wider range than other companies, and in Savage X the sizes range from extra small to 4XL.
The company has 5 physical branches, including in California and Las Vegas, as well as an online store.