Rihanna is reportedly considering an IPO for her Savage X Fenty brand, according to a Bloomberg report that cited people familiar with the matter.
The IPO, which would reportedly value the singer and entrepreneur’s lingerie business at $3 billion or more, could happen as early as this year, though no final decisions have been made yet, Bloomberg reported.
FN has reached out to Savage X Fenty for a comment.
The news of the potential IPO comes as Savage X Fenty commences its first-ever physical store expansion. Rihanna announced in January that brand will open stores in five cities: Las Vegas, Los Angeles, Houston, Philadelphia, and Washington D.C.
In a September interview with Bloomberg, Savage X Fenty’s chief marketing and design officer, Christiane Pendarvis, said that the brand would open its own stores in 2022 throughout the U.S., with plans to open up stores in Europe in the future.