Rihanna looks to Wall Street. After her stage success, the singer is aiming to get her lingerie company listed and is working with consultants, including Goldman Sachs and Morgan Stanley, on this goal. Savage X Fenty could be worth up to $ 3 billion and its landing on the stock market could take place before the end of the year.
Though Savage X Fenty only launched in 2018, the brand has become a global leader in inclusive lingerie thanks to its body positivity approach. A message therefore opposite to that of the competitor Victoria’s Secret, overwhelmed by criticism in recent years for the stereotypes ridden. Controversy so violent that, accompanied by a sharp drop in sales, pushed Victoria’s Secret to change course: only last month the first model with down syndrome posed among the ‘angels’ for the launch of the campaign for the Love Cloud collection.
With an inclusive and positive approach linked to the figure of its founder, Savage X Fenty has thus come to be worth over a billion dollars in private fundraising. With the landing on Wall Street, the valuation could therefore triple allowing Rihanna to push the accelerator for brand growth.
A growth that is already expected to be sustained this year thanks to the opening of the first physical stores that mark a turning point in the strategy of the group, born only for online. Just recently Rihanna announced the opening of stores in five American cities – Las Vegas, Los Angeles, Houston, Philadelphia and Washington – to offer customers a whole new experience. The first point of sale is in Las Vegas: an all digital store, able to measure the size of the body through augmented reality and create three-dimensional avatars.
And after the United States, the group would also focus on Europe, strengthening its hold on the public attracted to the brand also and above all, at least at the beginning, for the name of Rihanna. The 34-year-old star, currently pregnant, is estimated by Forbes to be worth $ 1.7 billion thanks to the success of her music and the clothing brands she has created. In addition to Savage X Fenty, there are in fact Fenty Beauty, Fenty Skin and Fenty, which opened in 2019 under the LVMH umbrella.