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Highlights:
- As Rihanna is a famous singer and has a lot of following, it appears that the news of Savage X Fenty's IPO has attracted potential investors.
- In January, Savage X Fenty reportedly raised US$ 125 million in a funding round
- Last year, Rihanna's reported net worth was around US$ 1.7 billion, and she is probably the wealthiest female musician.
Savage X Fenty, the lingerie brand owned by Rihanna, is reportedly aiming to go public in the US equities markets and achieve a valuation of US$ 3 billion or more.
The singer-turned-fashion designer launched Savage X Fenty in 2018 and is headquartered in California. The company is reportedly in touch with Morgan Stanley and Goldman Sachs Group Inc. for advice on the initial public offering (IPO) plan.
As Rihanna is a famous singer and has a lot of following, it appears that the news of Savage X Fenty's IPO has attracted potential investors.
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The Barbadian singer has 123 million followers on Instagram and millions on other social media platforms like Twitter and Facebook. Apart from her singing and acting talent, she is also a businesswoman and an influencer.
That said, let's take a look at the expected IPO plans of the lingerie brand.
What's next for Savage X Fenty?
It is uncertain when the company will go public. However, reports suggest that it could happen as soon as this year. Also, it is important to note that the IPO market is unstable due to market volatility. Hence, Savage X Fenty could take time to make a final decision on an IPO.
In January, Savage X Fenty reportedly raised US$ 125 million in a funding round, and its investors include Neuberger Berman, Avenir Growth Capital, Marcy Venture Partners, and Catterton.
The lingerie brand is already expanding and has opened up brick-and-mortar stores in five locations, including Las Vegas, Culver City, and California.
Retail investors will have to wait for the filing of documents and approval from the Securities and Exchange Commission if they are interested in getting hold of Savage X Fenty stock.
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Bottom line
It is expected that the lingerie fashion brand could gain traction due to Rihanna's popularity. Born in Barbados, the singer signed with Def Jam records in 2005, and since then, she has given hit albums and remains one of the top celebrities across the world.
Last year, Rihanna's reported net worth was around US$ 1.7 billion, and she is probably the wealthiest female musician in the world.
Rihanna also runs other businesses like makeup brand Fenty Beauty, which became very popular since its launch in 2017 and Fenty Skin. The idea behind these companies is to cater to the needs of customers who often get overlooked by traditional brands.
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Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
