Rihanna celebrates the launch of Fenty Magnificence at ULTA Magnificence on March 12, 2022 in Los Angeles, California.
Kevin Mazur | Getty Pictures
Luxurious items large LVMH is exploring a sale of its 50% stake in Fenty Magnificence, which it co-owns with Grammy Award-winning singer and entrepreneur Rihanna, in keeping with 4 folks accustomed to the matter.
The corporate is working with funding financial institution Evercore on the sale, three of the folks mentioned. All 4 requested to not be recognized as a result of the method is confidential.
In 2017, Rihanna, whose full identify is Robyn Rihanna Fenty, launched Fenty Magnificence with the assistance of Kendo Manufacturers, LVMH’s in-house magnificence incubator. She and LVMH every personal half of the corporate, sources mentioned.
LVMH and Evercore declined to remark. Fenty Magnificence and representatives for Rihanna didn’t instantly return requests for remark.
Fenty Magnificence, which generated round $450 million of internet gross sales in 2024, may very well be valued at someplace between $1 billion and $2 billion, two of the folks mentioned.
Barbados-born Rihanna, who additionally owns lingerie model Savage X Fenty, began Fenty Magnificence to create a make-up line that works for a wider vary of pores and skin tones and kinds, together with Black, Hispanic and Asian girls. The merchandise, which embody make-up, skincare, haircare and perfume, are offered in Sephora and on Amazon.
Elf Magnificence purchased Hailey Bieber’s firm, Rhode, for $1 billion earlier this 12 months.