Rihanna To Raise $100 Million To Expand Her Savage X Fenty Brand
Rihanna has hired Goldman Sachs to raise $100 million to expand her lingerie company Savage X Fenty. Sources told New York Times‘ DealBook that the company is looking for more money to possibly grow the brand into other countries in Europe, or to create new lines like activewear. The company generated around $150 million in revenue, though it isn’t profitable, according to the Times, who also said the company is valued at about $1 billion. Savage X Fenty is owned partly by Techstyle Fashion Group (who also backs Kate Hudson‘s Fabletics), and has raised $70 million to date. Savage X Fenty has u...