LVMH Reportedly Weighs Sale of 50% Stake in Rihanna’s Fenty Beauty

LVMH is exploring a sale of its 50% holding in Fenty Beauty, the cosmetics brand it co-founded with Rihanna in 2017, according to people familiar with the matter. The luxury group has tapped investment bank Evercore to gauge interest in a potential deal, which remains confidential, Reuters reported. Neither LVMH, Evercore nor Rihanna has publicly commented. Reuters

Fenty Beauty, launched through LVMH’s Kendo Brands incubator and credited with reshaping the industry’s approach to inclusive shade ranges, generated roughly $450 million in net sales in 2024, with a mooted valuation between $1 billion and $2 billion, the report said.

The brand sells makeup, skincare, haircare and fragrance across Sephora, Amazon and other channels. Rihanna and LVMH each own half of the business.

A divestment would mark the second strategic retrenchment by LVMH from a Rihanna venture, after the company and the singer paused the short-lived Fenty fashion house in 2021 to focus on beauty and lingerie.

However, its main backer, outside of Rihanna, now has plans to seek a profit from the sale. LVMH, which stands for Louis Vuitton Moet Hennessy, owns several other global brands within its portfolio. This includes companies across the beauty and luxury industry, such as Benefit Cosmetics, Fresh Beauty, and Christian Dior.

Broader sector dynamics could shape any sale. Beauty assets tied to celebrity founders continue to attract strong interest, even as investors scrutinize growth durability and channel mix. For now, it’s unclear whether LVMH would exit entirely or retain a minority stake, and what timeline it is targeting for a transaction.

What LVMH hopes to gain from the sale remains unknown. Neither Rihanna nor LVMH has spoken about the supposed sale.