Jay-Z, Rihanna and Fenty Beauty: The Reported LVMH Stake Deal, Explained
Rihanna’s Fenty Beauty could be getting a new business partner.
Rihanna’s Fenty Beauty could be getting a new business partner. A September 30 report from Puck says MarcyPen Capital Partners, co-founded by Jay-Z, is nearing a deal to acquire LVMH’s 50 percent stake. The story connects a long-running creative relationship with a potentially major change in the beauty brand’s ownership.
What is actually being negotiated?
The stake reportedly for sale belongs to LVMH. Reuters reported on October 21, 2025, that the luxury group was exploring a sale with investment bank Evercore and that Rihanna and LVMH each owned half of Fenty Beauty. Under the structure being reported, Rihanna would retain her 50 percent interest while MarcyPen became the other shareholder.
Puck’s September 30, 2026, report cited a source who said an agreement could be signed within three to four weeks. Financial terms were undisclosed, and MarcyPen did not respond to its request for comment. That projected timetable points to later in October; signing and completing a transaction are separate milestones. As of October 9, a completed purchase remains unconfirmed in the reporting reviewed.
How the original partnership worked
Fenty Beauty launched on September 8, 2017, through Rihanna’s partnership with Kendo Brands, LVMH’s beauty developer. Its official launch announcement described a rollout across 1,600 stores in 17 countries, with 40 foundation shades and 91 products. The purpose was specific: give customers with traditionally hard-to-match skin tones more options, backed by formulas developed for different skin types.
That founding proposition helps explain the stakes for beauty readers. A change of investor would raise questions about the resources and decision-making behind the products they use. Fenty’s current FAQ identifies Rihanna as founder, CEO and an owner, and describes Fenty Beauty, Fenty Skin, Fenty Hair and Fenty Fragrance as joint ventures between Rihanna and Kendo.
From the Fenty archive: Rihanna demonstrates Pro Filt’r Soft Matte Powder Foundation in this December 2020 brand tutorial.
Where Jay-Z enters the picture
The professional relationship goes back to music. SRP Music Group, which developed Rihanna before her breakthrough, describes her 2005 Def Jam deal being reached with label president Jay-Z and Island Def Jam chief L.A. Reid. A new beauty investment would add another business connection to a relationship that already spans decades.
MarcyPen is also a wider investment business. Its SEC adviser filing says Marcy Venture Partners and Pendulum Opportunities merged in 2024 to form the firm. The proposed buyer in this story is MarcyPen; the reporting does not disclose what personal economic interest Jay-Z would hold in the acquired stake.
There is an existing Rihanna investment connection. Savage X Fenty’s February 10, 2021, funding announcement named Marcy Venture Partners among the participating investors. Savage X Fenty is the lingerie business, a separate venture from Fenty Beauty. Rihanna’s Fenty ready-to-wear fashion house was another distinct project, which she and LVMH placed on hold in February 2021.
Read the money carefully
Reuters’ October 2025 report put Fenty Beauty’s 2024 net sales at around $450 million and cited sources estimating a potential company valuation of $1 billion to $2 billion. Those were figures from that stage of the sale process. They do not establish the price MarcyPen might pay for LVMH’s half, and net sales do not reveal the company’s profit.
A potential sale alone gives readers too little information to determine why LVMH wants to exit or how a new owner would run the business. Valuation estimates from different dates also need context before anyone calculates a supposed loss. The agreed price, financing and shareholder rights would provide a firmer basis for judging the transaction.
What readers should watch next
The useful next development is a formal announcement identifying the buyer, transaction status and any changes to Rihanna’s role or operating arrangements. Product development, shade ranges and retail access are the practical questions for customers. Until the parties disclose those details, the strongest story is the potential change in Fenty Beauty’s partnership and what it could mean for the brand Rihanna built.
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Rihanna’s Fenty Beauty could be getting a new business partner. A September 30 report from Puck says MarcyPen Capital Partners, co-founded by Jay-Z, is nearing a deal to acquire LVMH’s 50 percent stake. The story connects a long-running creative relationship with a potentially major change in the beauty brand’s ownership.