Rihanna’s lingerie brand Savage x Fenty could be reaching new heights as it is said to be considering an initial public offering (IPO) that could put the brand’s valuation at three billion dollars or more.
While the label has not yet made a final decision on the IPO, Rihanna is reportedly working with banks, including Goldman Sachs Group Inc. and Morgan Stanley, on the offer, according to anonymous sources for Bloomberg.
The publication said a listing could come as soon as this year.
The news follows the company’s most recent funding round in January, led by Neuberger Berman, during which it raised 125 million dollars.
The singer-turned-entrepreneur, whose full name is Robyn Rihanna Fenty, also runs cosmetics companies Fenty Beauty and Fenty Skin.
Together with Savage x Fenty, the three businesses each provide products dedicated to providing for underrepresented shoppers, with a message that promotes inclusivity in both apparel and beauty.
The lingerie label has additionally been growing its bricks-and-mortar presence, currently opening a select number of store locations throughout the US.