Rihanna Inks Lingerie Deal With TechStyle
UNITED STATES — Rihanna‘s empire keeps getting bigger. The international popstar, fashion designer and beauty mogul have inked a deal with TechStyle Fashion Group for a lingerie line.
The TechStyle portfolio of brands consists of Fabletics, ShoeDazzle, JustFab or FabKids.
An official launch date could not be learned, but sources said TechStyle has been working on the project for more than a year and samples have already been produced.
The line with Rihanna, the source said, is viewed as a key strategic move in TechStyle’s efforts to file for an initial public offering, something executives have never shied away from discussing as a possible exit option. TechStyle’s raised about $300 million to date.
“They’re of a size now that adding another brand, adding another category, would make sense to round out the product offering,” speculated Lloyd Greif, president and chief executive officer of Los Angeles investment bank Greif & Co., which is not involved with the company. “What they want to do is show growth. The key to going public is having a growth track record or having growth in their windshield, not in the rearview mirror of the company so I’m sure the Rihanna brand play would be to convince the market that the company has strong growth ahead because IPOs are all about growth ahead.”
TechStyle is based out of El Segundo, Calif., and counts 1,328 workers globally.
In 2016, the company switched its corporate name from JustFab to TechStyle as it sought to solidify the parent company’s endeavor to be seen as a tech-based, brand-building platform handling all back-end functions, including media of which some $125 million is funneled annually into media buys.
Riri previously collaborated with MAC Cosmetics in 2013, she represented Viva Glam lipstick in 2014 to raise funds for AIDS research, produced seven fragrances for Parlux Ltd., released a sneaker collection with Puma, debuted her first Fenty collection for Puma during New York Fashion Week, collaborated with Manolo Blahnik on a capsule collection and founded a beauty and stylist agency called Fr8me with managing partner Benoit Demouy, formerly of the agency Tracey Mattingly.
Photos Credit: Rihanna’s Instagram