Jay-Z-backed investment firm MarcyPen Capital Partners is reportedly nearing a deal to acquire LVMH’s 50% stake in Rihanna’s Fenty Beauty.
The potential transaction would leave MarcyPen and Rihanna as equal owners of one of the world’s most successful celebrity cosmetics brands.
Industry publication Puck reported that MarcyPen was near the finish line on the proposed acquisition, while Media Take Out claimed final paperwork was being prepared ahead of a possible announcement within weeks.
However, LVMH, MarcyPen, Fenty Beauty and Rihanna have not publicly confirmed that a deal has been signed or disclosed its proposed financial terms.
MarcyPen emerged as leading contender
Reports linking MarcyPen to the Fenty Beauty stake first emerged in June, when Beauty Independent identified the firm as a leading contender in the sale process.
MarcyPen was formed through the merger of Jay-Z’s Marcy Venture Partners and Pendulum Holdings’ investment arm. The firm specialises in fast-growing consumer businesses influenced by culture.
Marcy Venture Partners, MarcyPen’s predecessor, previously invested in Rihanna’s Savage X Fenty lingerie company in 2019 and again in 2022.
That existing relationship could make MarcyPen a natural partner for Rihanna as LVMH considers ending its investment in the beauty business.
LVMH began exploring sale in 2025
LVMH began exploring the sale of its 50% interest in Fenty Beauty in 2025 and hired investment bank Evercore to advise on the process, Reuters reported.
Rihanna owns the remaining half of the cosmetics company, which she launched in 2017 through Kendo Brands, LVMH’s beauty incubator.
Fenty Beauty reportedly generated approximately $450 million in net sales during 2024 and was valued at between $1 billion and $2 billion.
The brand transformed the cosmetics market by launching its foundation in 40 shades and placing greater emphasis on products designed for a broad range of skin tones.
Its early success prompted competing beauty brands to expand their shade ranges, an industry response that became known as the “Fenty Effect”.
Deal would reunite Jay-Z and Rihanna in business
An acquisition would add a new business chapter to the longstanding relationship between Jay-Z and Rihanna.
Jay-Z was president of Def Jam when the label signed the Barbados-born singer in 2005, helping launch a music career that later expanded into beauty, fashion and lingerie.
The potential transaction would not, however, place Fenty Beauty directly under Beyoncé’s business empire. MarcyPen is a separate investment firm, despite Jay-Z’s involvement and his marriage to Beyoncé.
Reports describing the proposed purchase as creating a combined Beyoncé-Rihanna cosmetics empire therefore overstate the corporate connection.
Until the parties formally announce an agreement, MarcyPen remains a reported prospective buyer rather than the confirmed new co-owner of Fenty Beauty.
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