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Rihanna plans IPO with underwear – Economy

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Rihanna, when you hear the name, many people immediately think of the song “Umbrella”, which probably many people get stuck in a loop in their heads. The song was a breakthrough for the R&B and pop singer, who has since sold more than 250 million records. This makes her one of the most successful artists worldwide. But Robyn Rihanna Fenty, that’s her real name, she’s not only a musician, but also a fashion designer and businesswoman. Very successful at it. And she is now revolutionizing the stock market world.

After becoming a billionaire with her cosmetics line last year, the singer now intends to go public with her own lingerie brand. According to US media, Savage X Fenty could go public this year and value the company at up to three billion dollars. Investment banks Goldman Sachs and Morgan Stanley also participate.

In January of this year, the company raised $125 million in a funding round. Previous investors L Catterton, Avenir Growth Capital, Sunley House Capital Management and Jay-Z’s Marcy Venture Partners also participated.

Rihanna had already released eight studio albums when she founded Savage X Fenty as an online store in 2018. She owns a 30 percent stake in it. There are now five stores in the US where she can use 3D body scans to determine the exact bra size. The essence of the brand is: diversity. While her cosmetics brand Fenty Beauty, founded in 2017, offers more than 40 skin tones, clothing sizes at Savage X Fenty range from XS to 4 XL. Rihanna thus competes with the lingerie manufacturer Victoria’s Secret, which has long refused to offer plus sizes and only hired the first plus size model in 2019.

In the US, Rihanna would be called “multi-hyphenate”.

For Rihanna, the entrepreneurial spirit has already paid off. Last year I appreciated that Forbesmagazine estimated his fortune at $1.7 billion. His main source of income is the cosmetics company Fenty Beauty, which is said to have contributed about $1.4 billion to his fortune. The singer owns 50 percent of the company, the rest belongs to the French luxury goods group LVMH (Mo√ęt Hennessy Louis Vuitton). However, not all the singer’s projects were successful. In 2020, his fashion brand Fenty was temporarily discontinued in cooperation with LVMH after only two years.

In the US, Rihanna would be called “multi-hyphenate”. This refers to celebrities who not only sing, dance or act, but also set up their own fashion brands and cosmetics companies. Reality star Kim Kardashian also successfully entered the underwear business. The Ella Skims by Ella brand doubled her valuation to $3.2 billion in January.

But very few celebrities have made it to the stock market. Among them is the American actress Jessica Alba. Alba has been selling cosmetics and baby products with her company “The Honest Company” since 2011. Alba went public last year and claims to have raised $413 million.

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