Rihanna’s company may be listed on Stock Exchange

National hero Robyn Rihanna Fenty is reportedly planning a major business move, that will take her Savage X Fenty lingerie company public with a proposal to launch an initial public offering (IPO) soon. The IPO would mean that Savage X Fenty would be listed on the stock exchange and investors are said to be on standby to snap up shares in the highly successful business if the entertainment and fashion mogul approves the plan.

According to recent reports by Bloomberg News, the Barbadian singer turned fashion entrepreneur is said to be working with global banks Goldman Sachs Group Inc, and Morgan Stanley to execute the listing of her lingerie company at a reported US$3 billion.

“Savage X Fenty hasn’t made a final decision on an IPO and its plans, including the timing, could still change,” Bloomberg reported its sources had informed. The United States’ highly regarded business publication and media company said representatives of Savage X Fenty and Morgan Stanley did not respond to requests for comment, while Goldman Sachs declined to speak on the matter.

“[Savage X Fenty] raised US$125 million in January in a funding round led by Neuberger Berman with participation from previous investors L Catterton, Avenir Growth Capital, Sunley House Capital Management and Jay-Z’s Marcy Venture Partners, according to data provider PitchBook,” Bloomberg reported.

Fenty, who recently celebrated her 34th birthday, has business holdings that include Fenty Beauty, which was launched in 2017 and later Fenty Skin. The two companies, along with Savage X Fenty, offer products to people often overlooked by the mainstream brands. Her Savage X Fenty lingerie line has taken the industry by storm and reportedly unsettled big name brands such as Victoria Secrets, causing them to lose significant market share.

Rihanna has had sales of over 250 million records worldwide, and is one of the best-selling music artistes of all time. She has also enjoyed 14 number-ones and 31 top-ten singles in the United States. In the United Kingdom, Rihanna has had 30 top-ten entries.

She has not produced new music for some time and fans have been eager to hear her next project. The Barbadian superstar has received nine Grammy Awards, 13 American Music Awards, 12 Billboard Music Awards, six Guinness World Records, and the National Association for the Advancement of Coloured People’s (NAACP) President’s Award. Time Magazine named her one of the 100 most influential people in the world in 2012 and 2018, while Forbes Magazine ranked her among the top ten highest-paid celebrities in 2012 and 2014. As of 2021, she was the wealthiest female musician, with an estimated net worth of US$1.7 billion. (IMC1)