Rihanna Seeks Investors For Potential Savage X Fenty Activewear Collection
UNITED STATES — International R&B singer, pop star, beauty mogul, fashion designer, style icon, multibillion-dollar businesswoman and philanthropist Rihanna is seeking an investor to help expand her Savage X Fenty brand.
According to WWD, “the multihyphenate entrepreneur is working with Goldman Sachs, knocking on doors to raise money to expand her Savage X Fenty empire into activewear. But it seems would-be investors are being invited to the Rihanna party, not necessarily behind the velvet rope.”
Hedge funds, private equity sponsors and the investment offices of wealthy families are being queried, which makes sense because of Rihanna’s profile and ability to move millions of dollars’ worth of merchandise with just a social media post. She is very marketable!
Still, what at least one savvy investor saw on offer was a “complicated minority paper without much governance or control and big value expectations for a business that currently loses money.”
The New York Times, which first reported the process, said the brand was looking to raise $100 million (see it here). The mega-star co-owns the brand with TechStyle Fashion Group.
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