Bad Gal RiRi a.k.a Rihanna offering for hot lingerie company Savage X Fenty could increase in value to 3 billion dollars.
According to Newsweek RiRi is working with banks such as Goldman Sachs Group Inc. and Morgan Stanley. The listing could make an appearance by the end of 2022.
In 2020, the lingerie brand posted revenue growth of over 200 percent and “increased its active VIP member base by more than 150 percent,” according to a statement from the company.
CultureBanx also reported that if the progression continues, Savage X Fenty is projected to be the global lingerie market leader by 2025. The same year, women’s activewear is expected to reach a $216.9 billion value.
“Following the completion of the fundraising round where L Catterton took a stake in Savage X Fenty, LVMH and Rihanna reaffirmed their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare, and lingerie,” LVMH and Rihanna added in a statement to WWD.
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.
“We wanted to be able to connect with our customers in real life and give them something they have never seen before,” Bad Gal RiRi said in a statement about the hot lingerie. “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.”
