Yesterday, luxury conglomerate LVMH is reportedly exploring the sale of its 50% stake in Fenty Beauty, the cosmetics brand co-founded with global pop icon and entrepreneur Rihanna, according to multiple sources familiar with the matter.
The French group has engaged investment bank Evercore to advise on the potential transaction, three of the sources said. Discussions remain confidential, and representatives for LVMH, Evercore, Fenty Beauty, and Rihanna have declined to comment.
Launched in 2017 under LVMH’s beauty incubator Kendo Brands, Fenty Beauty quickly became a global phenomenon for its inclusive product range catering to diverse skin tones. Rihanna and LVMH each hold a 50% stake in the brand, which has expanded beyond makeup into skincare, haircare, and fragrance, retailing through Sephora and Amazon.
Fenty Beauty generated around $450 million in net sales in 2024 and could be valued between $1 billion and $2 billion, according to two sources. The potential sale follows a wave of deal activity in the beauty sector, including e.l.f. Beauty’s $1 billion acquisition of Hailey Bieber’s Rhode earlier this year.
According to LVMH’s latest financial report, the group’s Perfumes and Cosmetics division recorded revenue of €6.04 billion in the first nine months of the year. Organic revenue remained stable during the period, as the company continued to pursue a disciplined innovation strategy and a highly selective retail approach.
