Rihanna’s is working with advisers on an initial public offering that could value her Savage X Fenty lingerie company at $3 billion or more, according to people familiar with the matter. Savage X Fenty is working with banks, including Goldman Sachs Group Inc. and Morgan Stanley. One of the people said a listing could happen as soon as this year.
The people said that the Savage X Fenty hadn’t decided on an IPO, and its plans, including the timing, could still change. Representatives for Savage X Fenty and Morgan Stanley didn’t immediately respond to requests for comment. A representative for Goldman Sachs declined to comment.
Those two companies, along with Savage X Fenty, those two companies aim to provide products to customers who traditional brands often overlook. Fenty Beauty, for example, boasts 40-plus foundation shades — a much broader palette than the norm — while Savage X features sizes from XS to 4XL. Savage X Fenty has been expanding with its brick-and-mortar stores and now lists five locations on its website, including Culver City, California, and Las Vegas.