Savage X Fenty considers IPO, valuation could be $3bn
The singer-turned-fashion-entrepreneur and her Savage X Fenty team are working with banks including Goldman Sachs and Morgan Stanley, said the people, with an IPO potentially taking place later this year setting it up for a valuation of $3 billion, U.S. media reported.
Exact timing and date details were subject to change, the sources added.
At the time of reporting, both Savage X Fenty and the advisors reportedly involved declined to comment on the news.
The IPO news comes as Savage X Fenty embarks on a physical retail rollout across its native U.S. In early January, Rihanna revealed location details for five upcoming Savage X Fenty store openings in 2022, including Las Vegas, Los Angeles, Houston, Philadelphia, and Washington D.C.
The January funding round comes on the back on a Series B funding round of $115 million last February, bringing Savage X Fenty’s total venture capital funding to $310 million.
The company has also earmarked retail expansion plans for Europe, in addition to its outlets in the U.S.