Rihanna celebrates the launch of Fenty Beauty at ULTA Beauty on March 12, 2022 in Los Angeles, California.
Kevin Mazur | Getty Images
Luxury giant LVMH plans to sell its 50% stake in Fenty Beauty, which it co-owns with Grammy Award-winning singer and entrepreneur Rihanna, according to four people familiar with the matter.
The company is working with investment bank Evercore on the sale, three of the sources said. All four asked not to be identified because the process is confidential.
In 2017, Rihanna, full name Robyn Rihanna Fenty, launched Fenty Beauty with the help of Kendo Brands, LVMH’s in-house beauty incubator. She and LVMH each own half of the company, sources said.
LVMH and Evercore declined to comment. Fenty Beauty and Rihanna’s representatives did not immediately respond to requests for comment.
Fenty Beauty, which generated about $450 million in net sales in 2024, could be valued at between $1 billion and $2 billion, two of the sources said.
Barbados-born Rihanna, who also owns lingerie brand Savage The products, which include makeup, skin care, hair care and fragrance, are sold at Sephora and on Amazon.
Elf beauty bought Hailey Bieber’s company Rhode for $1 billion earlier this year.
