With investment reports, it seems like Rihanna’s beauty business may be in for another chapter as the singer and business mogul prepares to change the ownership structure of the firm with Jay-Z.
After becoming one of the top celebrity beauty brands, Rihanna’s beauty business is in for an ownership change with the most notable change involving Jay-Z.
It has been reported that MarcyPen Capital Partners, a firm that Jay-Z co-founded, will likely purchase the half stake held by LVMH in Fenty Beauty. As per Puck’s September 30, 2026 article, the terms of the deal were not released, however the firm anticipates an agreement to be reached and executed in 3 to 4 weeks. No details about the status of the transaction were confirmed by the firm. (Puck)
If completed, the deal would join the two biggest celebrity brands in consumer business and entertainment. Rihanna would keep a 50% ownership stake while MarcyPen Capital Partners would take on the role of her business partner previously held by LVMH.
The significance of the story extends beyond the celebrities, and calls attention to the value of Fenty Beauty, as well as why a major luxury firm would want to step away from the business.
Read about How These Four Founders Built Long-Lasting Value
Why Jay-Z Wants a Piece of Rihanna’s Beauty Empire
Investing in Fenty Beauty fits right in with a portfolio of businesses outside the scope of Jay-Z’s music career.
MarcyPen Capital Partners combined the interests of both Marcy Venture Partners and Pendulum Opportunities. Their business strategy focuses on consumer goods and services where strong branding leads to loyal customer bases.
There is an existing link between the Fenty and Jay-Z empires through previous Savage X Fenty investments by Marcy Venture Partners. Rihanna’s company is in the business of manufacturing and selling lingerie.
Although that history doesn’t hurt when it comes to the prospects of Fenty Beauty, business deals in that industry, like any other, have no guarantee.
The addition of Fenty Beauty would introduce a commercially recognized and highly competitive, globally significant company to the MarcyPen Capital portfolio. In this case, MarcyPen would be supporting an existing business that has a client base rather than starting one from the bottom.
Fenty Beauty provides the recognition necessary for any business venture to sustain a level of profitability, but whether that will ever occur, let alone sustain itself, remains a concern.
How Fenty Beauty Changed the Makeup Industry
With Fenty Beauty’s launch, Rihanna introduced makeup’s answer to inclusivity with its 40 foundation shade collection. Customers were exhausted of traditional makeup brands only offering a small collection of shades for darker foundation, but Fenty Beauty addressed a massive consumer pain point.
Instead of only making the shades an afterthought, Rihanna placed inclusivity at the forefront of the brand. In just a short period, Fenty Beauty became a household name. Rihanna used her platform, partnership, and brand identity to redefine makeup. The brand furthered its reputation with successful expansion of products in other beauty areas like skin and fragrances.
The potential investment will benefit from all that the brand has built. Fenty Beauty has products with brand recognition that is known in the retail industry.
How Much Could Fenty Beauty Be Worth?
The details provided help explain the reason for the excitement around the news.
Fenty Beauty posted net sales of roughly $450 million in 2024 according to a report by Reuters in October 2025. During that time, Fenty Beauty’s owners were considering the option to sell part of the company. It was assumed at the time the company was valued at somewhere between $1 billion and $2 billion. (Reuters)
In the hypothetical situation where Fenty Beauty’s owners decide to sell half of the company, the value would probably land somewhere between $500 million and $1 billion. This value would, however, likely be based on different financial factors at that time, and wouldn’t be an indicator of what MarcyPen might pay.
In a negotiation, the final price is likely to be impacted by a range of financial and legal variables including but not limited to the company’s recent performance, existing financial and other obligations, as well as contractual rights, among others.
In addition to that, a key consideration is that high revenues are not equal to profits. Sales do not equal earnings and it’s very possible for a business to post a top-line number of a few hundred million dollars and post a bottom line with significant costs for production, marketing, distribution, labor and product development, among other costs.
For the time being, the purchase price for the acquisition can’t be determined and any such guess would be purely conjecture.
Why Would LVMH Sell Its 50% Stake?
With various divisions for cosmetics and fragrances, as well as jewelry, fashion, and leather goods, LVMH has become a leading international luxury group.
Back in October 2025, Reuters stated that LVMH was in the middle of exploring options to sell Fenty Beauty and had enlisted Evercore for that endeavor. LVMH and Evercore didn’t offer any comments to Reuters.
LVMH possibly wanting to sell doesn’t necessarily imply that Fenty Beauty is failing. Organizations will decide if it makes more sense to retain their investment, sell their stake, or put capital elsewhere.
It’s possible that for LVMH a potential sale would offer the chance to realign their assets and adjust their portfolio. As far as Rihanna is concerned, it might mean the next phase of her ownership with a new partner.
The potential exit is shrouded in a lot of mystery and reasons that may exist remain speculative. The idea that LVMH has poor performance that would prompt a new owner to produce different results would be a huge leap of faith.
What Would Change for Rihanna?
Rihanna is Fenty Beauty, and that has been the case since its beginning. However, when we think about what ownership entails, there is more to it than just being a name.
If MarcyPen decides to purchase LVMH’s stake, Rihanna would retain ownership with new investment partners who aren’t LVMH.
Read about The Megadeals Behind Europe’s AI Billionaire Boom
The final deal has the potential to restructure the firm’s investment focus, new market and new product areas.
Even if ownership is equal between the two, a 50/50 partnership doesn’t give them both total control. That is determined in the agreement and spells out how decisions are made, and how disputes are settled, among other responsibilities.
The biggest impacts on Fenty Beauty’s customers are the obvious changes in products, an updated and more enjoyable experience when it comes to the shopping experience, greater accessibility to the products and the continued attention paid to the various skin tones and beauty needs of Fenty Beauty’s customers.
All these positive impacts will require more than just a change of shareholders.
Could This Change the Future of Celebrity Beauty Brands?
A change is underway with regard to the way businesses are valued after the news that a deal was done.
Celebrity names will attract attention but investors will need to think more deeply as there are factors such as how well a company’s product is being received and the customers’ loyalty, as well as management, earnings consistency and the company’s distribution channels.
With a global brand rollout Fenty Beauty demonstrated how celebrity names can introduce a brand to the masses but, for brand longevity, customers need to buy and re-buy its products.
Jay Z’s involvement shows that the entertainment and investment worlds have become intertwined. With the opportunity for business creation, investment ownership and entrepreneurship available to public figures, entertainers have begun the evolution of what was formerly just licensing agreements or endorsements.
With the beauty market so saturated and established competitors including renowned brands having to continually innovate, respond and justify the cost to their customers, the power of a famous brand is still no match for poor operations.
What Happens Next?
Parties will need to provide confirmation for the next step.
The most important things to observe are whether MarcyPen and LVMH enter a final agreement, the cost of the stake and the impact of the transaction on Rihanna’s ownership and decision making.
In late September Puck published a three-to-four-week timeline for completion. This was an estimate, and was not a guarantee of a sale closure.
Until a sale is confirmed, it should be treated as a business story in the making, and not as an completed acquisition.
A sale will significantly impact the ownership of one of the celebrity funded businesses of the beauty industry.
The Bottom Line
The venture arm of Jay-Z, has an interest in Fenty Beauty. Fenty Beauty is estimated at billions. LVMH is currently 50 percent of Fenty Beauty. Marcy Pen will become 50 percent of Fenty Beauty if they purchase the equity.
This deal opens a new chapter in Rihanna’s business career. MarcyPen can invest in one of the most famous beauty companies in the world. For LVMH it is the end of the Fenty Beauty shared partnership.
Read about Meet The Family That Turned Soap Operas Into A $2 Billion Fortune
However, the question that will be on most people’s mind is what comes after.
Can a new ownership structure maintain the company’s competitive advantage in a changing landscape, help Fenty Beauty break into a new consumer segment, and retain customers in an already crowded space? We will have to wait and see.
