This Black Caribbean Immigrant Star Eyes A US$3 Billion IPO

The content originally appeared on: News Americas Now
Rihanna celebrated the launch of Fenty Beauty at ULTA Beauty on March 12, 2022 in Los Angeles, California amid reports that Savage Fenty X is eyeing a $3 billion IPO. (Photo by Kevin Mazur/Getty Images for Fenty Beauty by Rihanna)

By NAN STAFF WRITER

News Americas, LOS ANGELES, CA, Mon. Mar. 14, 2022: A Black Caribbean immigrant star, who is also the Caribbean first female billionaire, could likely add to her fortune amid news that the company she founded is eyeing a USD 3 billion IPO.

Barbados born star, Robyn Rihanna Fenty, NH, who is also an immigrant, has a net worth of $1.7 billion that makes her the wealthiest female musician, and second only to Oprah Winfrey as the richest female entertainer.

If the company the singer, actress, fashion designer, and businesswoman founded, Savage X Fenty considers an IPO at a $3 billion valuation, her status as top female billionaire could be likely, as she owns a 30 percent share in the company.

The Savage X Fenty lingerie line just expanded into brick and mortar locations throughout California and Las Vegas after raising $125 million in its latest funding round in January.

In January, Rihanna took to Instagram to reveal that 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.

The brand, whose focus is on inclusive body shapes, will have chrome and lavender mannequins created using 3D technology to reflect a range of body types, marketing to customers who may not otherwise see their physique proudly displayed in stores.

“We wanted to be able to connect with our customers in real life and give them something they have never seen before,” Rihanna said in a statement. “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.”

The company is reportedly working with banks like Goldman Sachs and Morgan Stanley to value its worth, and a listing could happen as soon as this year, sources said according to Bloomberg.

The current bulk of Rihanna’s fortune comes from her makeup line Fenty Beauty, worth about $1.4 billion. The remaining $270 million is split between the Savage X Fenty online business and her music career, Forbes estimates.

Rihanna, 34, is expecting her first child with A$AP Rocky, whose roots also extend to Barbados.