Megastar singer, songwriter and now the owner of a cutting-edge lingerie company, Rihanna is reportedly working with advisors on an initial public offering (IPO) for her brand Savage X Fenty.
Although the brand was only launched in 2018, it’s becoming a global leader in inclusive lingerie. Rihanna’s decision on an IPO could value her lingerie company at $3 billion or more, Bloomberg reports. Without an IPO, the lingerie line is expected to reach a $216.9 million value by 2025.
Savage X Fenty is reportedly working with banks including Goldman Sachs Group Inc. and Morgan Stanley, Bloomberg said. The listing could happen as soon as this year.
In August 2021, Forbes estimated Rihanna’s net worth near $1.7 billion—making her the wealthiest female musician in the world and second only to Oprah Winfrey as the richest female entertainer.
The bulk of Rihanna’s fortune comes from her makeup line Fenty Beauty, worth about $1.4 billion. The remaining $270 million is split between the Savage X Fenty online business and her music career, Forbes estimates.
In January, Rihanna took to Instagram revealing five cities that will be getting the brand’s first-ever brick-and-mortar locations.
“2022, we coming in HOT,” Rihanna wrote on Instagram. “We bout to bring you a whole new Savage X Fenty experience with the launch of our brick-and-mortar stores! … O can’t wait for you to have this experience irl (in real life). Our very first locations: Las Vegas, Los Angeles, Houston, Philadelphia and Washington D.C.”
Savage X Fenty debuted its first physical storefront in Las Vegas. The store features a tech-enabled fit experience allowing customers to receive a body scan with augmented reality that creates a 3D avatar similar to their body type, Retail Dive reports. The Fit: Match technology will provide recommendations based on a customer’s size and shape identified by the body scan.
The brand, whose focus is on inclusive body shapes, will have chrome and lavender mannequins created using 3D technology to reflect a range of body types, marketing to customers who may not otherwise see their physique proudly displayed in stores.
“We wanted to be able to connect with our customers in real life and give them something they have never seen before,” Rihanna said in a statement. “Creating the space took a lot of imagination, married with things I’ve always wanted to change about my own experiences as a customer, from mannequins to the Fit Xperience, to customer service.”
Newsweek reached out to Rihanna’s publicist for comment.