Rihanna transformed from a powerful musician into an entrepreneurial force. Her inclusive lingerie brand, Savage X Fenty, is considering a $3 billion initial public offering (IPO).

The brand, which seeks to revolutionize the lingerie industry and redefine beauty standards, has experienced rapid growth. The business model has also been fairly resilient to the pandemic. In light of the company’s popularity, an IPO could be a strategic move to raise capital and propel further growth.

The founding story

In 2018, Rihanna launched Savage X Fenty as an online-only brand. The intimate apparel brand sells lingerie, underwear, bras, nightwear and loungewear. The company strives to design inclusive clothing suitable for people of all backgrounds and sizes. Its products are sold at affordable prices.

Thanks to her business endeavors, Rihanna became a billionaire. Most of his wealth is linked to the success of Fenty Beautythe cosmetics company she started in 2017. The rest of her wealth comes from Savage X Fenty, as well as her music and acting career.

Savage X Fenty promotes Inclusiveness in fashion

Promoting trust and inclusiveness is at the heart of Savage X Fenty’s values. The company’s website and fashion shows feature various models representing different racial backgrounds and body types.

“Savage X is about creating your own rules and expressing your mood, character and style for you, not someone else,” Rihanna noted in a statement posted on the company’s website.

The decline of Victoria’s Secret created an opening for Savage X Fenty to take market share. Victoria’s Secret’s market share fell from around 80% in 2016 to 65% in 2019. Following criticism that the brand promotes unrealistic beauty standards, the lingerie retailer has made strides in revamping its image. Victoria’s Secret models largely fell into the category of tall and skinny with Eurocentric features. Despite rebranding efforts, new players like Savage X Fenty are well positioned to become global leaders.

According to market estimates, the company is positioned to become a leader in the global lingerie industry by 2025. Rihanna’s company is well positioned to capture a significant share of the $325 billion market. As part of its growth strategy, Savage X Fenty plans to open physical stores across the United States

While established lingerie companies like Victoria’s Secret struggle to maintain a consumer base, Rihanna’s brand has seen 200% year-over-year growth. In addition, the growth of its VIP membership program jumped 150% over the previous year.

Funding rounds

Rihanna’s lingerie brand has raised $310 million to date. In February 2022, the company raised $125 million in a Series C funding round led by New York-based investment management firm Neuberger Berman. Other Series C investors include L Catterton, a consumer-focused private equity firm, and Jay-Z’s Marcy Venture Partners.

The latest funding round will help propel the company’s retail dominance strategy. The company opened its first physical store in January 2022 at the Fashion Show Mall in Las Vegas. The new funding will also support the company’s international expansion efforts and the launch of new product lines. In February 2021, Savage X Fenty raised $115 million in a Series B round.

Wild X Fenty Management team

Two co-presidents, Natalie Guzman and Christiane Pendarvis, lead the company. Both women have extensive business experience in retail, digital commerce and product development.


Savage X Fenty is in talks with financial advisers including Goldman Sachs and Morgan Stanley on an initial public offering that could value it at $3 billion or more.

Despite a banner year for IPOs in 2021, IPO activity has slowed in 2022. The slowdown in the IPO trend comes in the wake of rising interest rates, inflationary pressures and geopolitical instability. There can also be investor fatigue after a strong IPO year.

Savage X Fenty will need to monitor market conditions to determine if moving forward with an IPO makes business sense. For the time being, the company is continuing discussions with advisers and taking preparatory measures. Due to market volatility, Savage X Fenty has not made a final decision on when to IPO.