Jay-Z-linked firm reportedly nears deal to buy LVMH’s stake in Rihanna’s Fenty Beauty

The reported deal would see LVMH exit Fenty Beauty while Rihanna maintains her stake in the company.

Rihanna may soon have a new partner holding the other half of Fenty Beauty, and the firm in line to take it has Jay-Z’s name attached.

HotNewHipHop reported that MarcyPen Capital Partners is nearing an agreement to acquire LVMH’s 50 percent interest in the cosmetics company, citing Puck. An agreement could be signed within the next three to four weeks. Financial terms have not surfaced, and MarcyPen declined to comment on the reported talks.

The process has been in motion for roughly a year. Reuters reported in October 2025 that LVMH had begun exploring a sale of its stake, working with Evercore. Sources at the time valued the company somewhere between $1 billion and $2 billion, with Fenty Beauty generating approximately $450 million in net sales during 2024.

Rihanna launched the brand in 2017 through Kendo Brands, LVMH’s beauty incubator, and the company’s own materials still describe it as a joint venture between the two. Should the deal close as described, LVMH would exit while Rihanna’s stake remains intact.

The pairing would not be unfamiliar territory. Marcy Venture Partners, which Jay-Z co-founded before it merged into MarcyPen, previously invested in Savage X Fenty. TechCrunch reported the lingerie company sat among the firm’s portfolio holdings by 2021, meaning the relationship between Rihanna’s businesses and Jay-Z’s investment network predates these talks by years.

What makes the potential transaction significant extends beyond the balance sheet. Fenty Beauty’s 2017 launch with 40 foundation shades forced a reckoning across an industry that had long treated deeper skin tones as an afterthought, and competitors scrambled to expand their own ranges afterward. The brand has since broadened across categories and become one of the larger contributors to Rihanna’s wealth.

A completed sale would also concentrate ownership of a landmark Black-founded beauty company among Black principals, replacing one of the largest luxury conglomerates in the world. That shift carries weight in an industry where Black founders have historically built brands only to see the equity, and the eventual payout, flow elsewhere.

There is also a practical dimension worth watching. LVMH brought distribution muscle and retail relationships that helped Fenty Beauty scale quickly through Sephora, which the conglomerate owns. An investment firm operates differently, and how that affects the brand’s shelf presence is a question the reporting does not yet answer.