Savage X Fenty to venture into sportswear

Get ready BUZZ Fam, because it’s coming! Rihanna’s Savage X Fenty is reportedly looking to take care of your sportswear needs too.

According to Business Insider, Savage X Fenty, is reportedly seeking to raise $100 million in funding. This new dough would be used to expand in Europe and launch a new line of athletic wear.

And that’s not all. The new round of funding could give Savage X Fenty a valuation of $1 billion, according to the New York Times.  

Savage X Fenty, which was founded by Rihanna in May 2018, has raised over $70 million to date. It is backed by Marcy Venture Partners — Jay-Z’s venture capital firm — ACME Capital, TriplePoint Ventures, and Avenir Growth Capital.

The brand generates roughly $150 million in revenue.