LVMH in talks to sell its 50% stake in Rihanna-backed Fenty Beauty

Oct 21 (Reuters) – Luxury goods giant LVMH is exploring the sale of its 50% stake in Fenty Beauty, which it co-owns with Grammy-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 people said. All four requested that their identities not be disclosed because the process is confidential.

Rihanna, whose full name is Robyn Rihanna Fenty, launched Fenty Beauty in 2017 with the help of LVMH’s in-house beauty incubator, Kendo Brands. Sources said he and LVMH own half the company.

LVMH and Evercore declined to comment. Representatives for Fenty Beauty and Rihanna did not immediately return requests for comment.

Fenty Beauty, which had net sales of about $450 million in 2024, could be worth between $1 billion and $2 billion, two of the sources said.

Barbados-born Rihanna, who also owns lingerie brand Savage Products including make-up, skin care, hair care and perfume are sold at Sephora and Amazon.

Elf Beauty acquired Hailey Bieber’s company Rhode for $1 billion earlier this year. (Reporting by Abigail Summerville in New York, Editing by Dawn Kopecki and Chris Reese)