Jay-Z’s MarcyPen Capital Partners in Talks to Buy LVMH’s Stake in Rihanna’s Fenty Beauty

June 12, 2026 | D.M. Fashion Book | Beauty and Grooming

Jay-Z-backed MarcyPen Capital Partners is reportedly in discussions to acquire luxury conglomerate LVMH’s 50 percent stake in Fenty Beauty, according to multiple sources familiar with the matter.

Founded by Rihanna in partnership with Kendo Brands, LVMH’s beauty incubator, Fenty Beauty launched in 2017 and quickly became one of the most influential brands in the cosmetics industry. Rihanna currently owns the remaining 50 percent of the company, meaning a potential deal would make MarcyPen a co-owner alongside the global superstar and entrepreneur.

The move would further strengthen MarcyPen’s connection to Rihanna’s business empire. Marcy Venture Partners, which later merged with Pendulum Opportunities to form MarcyPen Capital Partners in 2024, previously participated in funding rounds for Savage X Fenty in both 2019 and 2022.

Neither MarcyPen nor LVMH commented on the reported negotiations. Last year, Reuters reported that LVMH had hired investment bank Evercore to explore strategic options for its stake in Fenty Beauty. The publication also estimated that the brand generated approximately $450 million in net sales during 2024 and could be valued between $1 billion and $2 billion.

Even at the lower end of that valuation range, the acquisition would represent one of the largest transactions in MarcyPen’s history. The firm, which oversees roughly $1.1 billion in assets, has traditionally focused on growth-stage investments but has recently expanded its ambitions, including participation in Quince’s $500 million Series E funding round and the launch of MarcyPen Asia in partnership with South Korea’s Hanwha Asset Management.

Founded by Jay-Z, Jay Brown, D’Rita Robinson and Robbie Robinson, MarcyPen focuses on investing in consumer brands that shape culture and drive market trends. Its current portfolio includes beauty brand Merit Beauty and wellness company Rael.

Fenty Beauty transformed the beauty industry upon its debut by launching with 40 shades of its Pro Filt’R Soft Matte Longwear Foundation, helping redefine inclusivity standards across the cosmetics market. The brand has since expanded into skincare, fragrance, haircare and body care while maintaining its position as a leading prestige beauty label.

Among its most popular products are the Pro Filt’R Soft Matte Longwear Foundation, Gloss Bomb Universal Lip Luminizer, Eaze Drop Blurring Skin Tint and Match Stix Contour Skinstick. However, the beauty landscape has become increasingly competitive with the rise of brands including Rhode, Rare Beauty, Makeup by Mario, Patrick Ta Beauty and Haus Labs.

A potential sale would also continue the ongoing reshaping of Kendo Brands’ portfolio. The incubator sold KVD Beauty in 2025 and is reportedly exploring strategic alternatives for its lipstick customization business, Lip Lab, which currently operates 18 locations.

If completed, the transaction would mark a major new chapter for Fenty Beauty while positioning MarcyPen as a significant player in the global beauty industry.