LVMH is reportedly exploring a sale of its stake in singer Rihanna’s Fenty Beauty brand.
The luxury French fashion house holds a 50% stake in the brand via its beauty incubator Kendo Brands.
The company, which also owns Sephora and Benefit Cosmetics in the beauty space, is said to be working with investment bank Evercore on a potential sale, Reuters reports.
Rihanna founded Fenty Beauty with backing from Kendo Brands in 2017, and it now includes make-up, skin care, hair care and fragrance.
Cosmetics Business has contacted LVMH and Evercore for comment.
Fenty Beauty has become one of the most successful celebrity-founded beauty brands, along with the likes of Hailey Bieber’s Rhode, Selena Gomez’s Rare Beauty, Kylie Jenner’s Kylie Cosmetics, and Ariana Grande’s r.e.m beauty.
Rhode recently sold to e.l.f Beauty for US$1bn, while Rare Beauty has reportedly mulled a sale in recent years, though no deal has been forthcoming.
Kendo Brands sold KVD Beauty to Windsong Global earlier this year.
Founded with the reality star Kat Von D in 2008, LVMH acquired full ownership of the brand in 2020 and rebranded.