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Singer-turned-fashion-entrepreneur Rihanna is working with advisers on an initial public offering that could value her Savage X Fenty lingerie company at $3 billion or more.
Savage X Fenty is working with banks, including Goldman Sachs and Morgan Stanley, and a listing could happen as soon as this year, sources said.
Savage X Fenty has not made a final decision on an IPO and its plans, including the timing, could still change.
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Representatives for Savage X Fenty, Goldman Sachs and Morgan Stanley did not immediately respond to requests for comment.
The company raised $125 million in January in a funding round led by Neuberger Berman, with participation from previous investors L Catterton, Avenir Growth Capital, Sunley House Capital Management and Jay-Z’s Marcy Venture Partners, according to data provider PitchBook.
Abu Dhabi's Multiply Group, a technology-focused investment holding company, also invested Dh92m ($25m) in the funding round as it seeks to expand its global portfolio.
The singer, born Robyn Rihanna Fenty, who announced that she is expecting her first baby with partner A$AP Rocky in January, was born in Barbados and signed with Def Jam records in 2005, producing a string of hit-filled albums over the next decade.
Her business holdings also include Fenty Beauty, which made waves in the industry when the make-up company was launched in 2017, and Fenty Skin.
Those two companies, along with Savage X Fenty, aim to provide products to customers who are often overlooked by traditional brands.
Fenty Beauty, for example, has more than 40 foundation shades — a much wider palette than the norm — while Savage X features sizes from XS to 4XL.
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