Home Underwear Rihanna’s Savage X Fenty Considers IPO

Rihanna’s Savage X Fenty Considers IPO

0

Wild X Fenty, the lingerie company founded by Rihannaworks with banks on an IPO, Bloomberg reported Thursday.

The IPO could value the company, which has raised about $310 million in funding, at $3 billion.

Search less. Close more.

Increase your revenue with all-in-one prospecting solutions powered by the leader in private business data.

If an IPO takes place this year, it is important for several reasons. First, most venture capital-backed companies have put their IPO plans on hold given the volatility in public markets so far this year, which has been exacerbated by inflation concerns and geopolitical issues. Second, it would be a milestone for a company founded by a woman…very few companies founded by women have gone public, although this number is increasing.

A successful IPO for El Segundo, Calif., Savage X Fenty would also be a validation of the idea of ​​injecting capital into underwear companies. Investing in these companies has become a bit popular recentlywith brands such as Parade and SKIMS raise millions of dollars. Savage X Fenty and Kim Kardashian –SKIMS has raised significant capital this year, with the first raising a Series C of $125 million in January and the second a Series B of $240 million in January.

Underwear companies have a market opportunity with the incumbent, Victoria’s Secret, fallen out of favor in recent years and Gen Z having more disposable income. There’s also the economics of underwear – most people wear and continue to buy them throughout their lives, and underwear companies don’t have to deal with return rates. students.

If Savage X Fenty goes public, it wouldn’t be the first celebrity-founded company to do so recently. More recently, The honest societyfounded by actress Jessica Albawent public last year.

Savage X Fenty isn’t Rihanna’s first foray into the business world. She is also the founder of Fenty Beautywhich was launched with a luxury fashion and beauty company LVMH.

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions and more with the Crunchbase Daily.