Watch out, Oprah. It looks like Rihanna is coming for your richest female entertainer title. The singer, actress and entrepreneur is considering an Initial Public Offering for her lingerie brand Savage X Fenty. RiRi’s company is working with financial advisors and banking industry heavy hitters like Goldman Sachs and Morgan Stanley to determine the brand’s worth. According to Bloomberg, Rihanna’s decision on an IPO could value her lingerie company at $3 billion or more. But even if she decides against the move, the value of her sexy lingerie line is expected to grow to $216.9 million by the year 2025, setting up a pretty nice trust fund for the baby she’s expecting with rapper A$AP Rocky.
An initial public offering would take the company from private to public ownership, issuing stocks to the general public. So for the right price, you could possibly own a little piece of the Savage X empire for yourself. The process would allow the company to raise additional funds and grow its footprint. The IPO could happen sometime this year.
Savage X Fenty first launched in 2018 as an online-only brand intended for literally everybody, selling reasonably-priced lingerie and loungewear for men and women up to size 4XL.“Savage X means making your own rules and expressing your mood, character and style for you - not for someone else,” the Love the Way You Lie singer says.
The first Savage X Fenty storefront opened in Las Vegas in January. And because it’s Rihanna, the purple-hued store is outfitted with mannequins of diverse body types and top-notch tech. Customers can have their bodies scanned to create a 3-D avatar of their figure. The avatar is then used to provide customized product recommendations based on their size and shape. An additional store opened at Culver City Mall in California in February. And more Savage X Fenty locations are coming to King of Prussia in Pennsylvania, Pentagon City in Arlington, VA and The Galleria Mall in Houston, TX.
“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.”
All of Rihanna’s hard work is paying off in a major way. In August 2021, Forbes estimated the singer’s net worth to be nearly $1.7 billion, a figure that makes her the wealthiest female musician in the world. And when it comes to being the richest female entertainer, she’s second only to media maven Oprah Winfrey.
Most of Rihanna’s massive wealth comes from her makeup line, Fenty Beauty, which is worth just under $1.5 billion. The other $270 million is divided between Savage X Fenty and her career as a singer and actress, according to Forbes estimates. With all of that going on, it’s no wonder we have to wait so long for new music.