According to the publication WWD and The New York Times, Robyn Rihanna Fenty, singer, actress, and businesswoman better knows as Rihanna is working with investment banking firm Goldman Sachs and knocking on doors to raise money to expand her Savage X Fenty empire into activewear. The New York Times, which first reported the process, said the brand was looking to raise $100 million. Hedge funds, private equity sponsors and the investment offices of wealthy families are being queried. Since there’s no exact way to know exactly how much Savage X Fenty brand is worth but some estimates peg it at close to $1 billion. That might explain why Rihanna is also seeking top dollar from investors. No doubt the opportunity will garner some interest given Rihanna’s profile and ability to move millions of dollars’ worth of merchandise with a social media post.
However Rihanna will be up against some intense competition as she seeks to expand her business empire. The field of performance wear and ath-leisure is a crowded one. In the last year alone Target, American Eagle Outfitters’ Aerie, Madewell, Danielle Bernstein’s WeWoreWhat and Gwyneth Paltrow’s Goop have all launched their own brands in the area, while Beyoncé has linked with Adidas on her Ivy Park line. But none of these brands can match Rihanna’s extensive reach on social media, hence there will be little to no advertising costs to generate buzz and get the word out.
The mega-star co-owns the brand Savage Fenty X with TechStyle Fashion Group. Rihanna doesn’t have any professional sports credentials — as, say, James Harden for Adidas, or Serena Williams for Nike — but TechStyle does. The company also co-owns Kate Hudson’s activewear brand Fabletics. Rihanna does, however, have an impressive fashion résumé. In addition to Fenty Beauty, there’s Fenty Skin, a ready-to-wear partnership with LVMH Moët Hennessy Louis Vuitton and past collaborations with Dior, Manolo Blahnik, Stance Socks, Puma and River Island.