LVMH is considering selling its stake in Fenty Beauty, co-founded by Rihanna

The world’s leading luxury goods company, LVMH, is set to sell its 50 percent stake in cosmetics brand Fenty Beauty, according to multiple sources familiar with the talks.

LVMH is reportedly working with investment bank Evercore to broker the sale. The sources spoke on condition of anonymity due to the confidential nature of the process.

Fenty Beauty, founded in 2017 by Barbadian singer and entrepreneur Rihanna (real name Robyn Rihanna Fenty), has been backed by Kendo Brands, LVMH’s beauty startup arm. The partnership between Rihanna and LVMH is currently on a level playing field.

LVMH and Evercore did not immediately respond to requests for comment. Requests for comment from Fenty Beauty and Rihanna’s representatives also went unanswered.

Two sources said Fenty Beauty is targeting revenue of about $450 million in 2024. Experts estimate the company’s total value at between $1 billion and $2 billion.

Rihanna, who also owns the lingerie brand Savage X Fenty, created Fenty Beauty to offer a wide range of cosmetics for diverse skin types and tones. Particular attention was paid to the needs of women with dark skin, as well as to those of Latinas and Asians.

Fenty Beauty products, including makeup, skin care, hair care, and perfumes, are available at Sephora stores and on Amazon.