Wall Street better have her money. Rihanna is reportedly mulling the possibility of taking the lingerie portion of her empire public, according to a report from Bloomberg News. The purported IPO would value Savage x Fenty at a whopping $3 billion. Rihanna is said to be working with Goldman Sachs Group Inc. and Morgan Stanley on the plan to take the company public and list it on the stock exchange.
Rihanna founded the brand in 2018 through a partnership with the parent company of membership-based e-tailer JustFab. Savage x Fenty immediately made waves with its inclusivity-minded values, especially in comparison to the woes Victoria’s Secret faced at the time. Since then, Rihanna’s lingerie label has also expanded into men’s underwear, and this year began opening physical locations. So far, the company has five storefronts, with a rumored Brooklyn location to come.
An IPO would bring in a slew of cash with, of course, the investors’ expectations to expand even further. In other words, first Wall Street, then likely, a location in every notable city in America.
Mind you, Savage x Fenty isn’t even the most successful part of Rihanna’s portfolio. Her Fenty Beauty company is worth $2.8 billion, according to an estimate Forbes characterizes as “conservative,” and would likely command a much higher IPO should it ever go public. Mind you, things like Wall Street valuations and the various celebrity net worth numbers you read about online don’t necessarily translate to actual numbers in a bank account, but it’s safe to say that Riri’s business portfolio is strong.
Bloomberg reports that the IPO could happen as soon as this year, leaving us with one question in mind: what will she wear to ring the bell on the stock exchange floor? If we can count on anyone to redefine publicly-traded-company-mogul style, it’s Rihanna.