One of Rihanna’s biggest business partners could soon be replaced by an investment firm co-founded by Jay-Z. MarcyPen Capital Partners is reportedly nearing an agreement to purchase LVMH’s 50 percent interest in Fenty Beauty, potentially putting the firm opposite Rihanna as the cosmetics company’s other half-owner.
According to Puck, the transaction could be signed within the next three to four weeks. Financial terms have not been disclosed, and MarcyPen did not comment on the reported negotiations. Still, the potential sale has been developing for nearly a year. Reuters reported in October 2025 that LVMH had begun exploring options for its Fenty Beauty stake and was working with Evercore on the process. At the time, sources estimated the company could be worth between $1 billion and $2 billion. Reuters also reported that Fenty Beauty generated approximately $450 million in net sales in 2024.
Rihanna launched Fenty Beauty in 2017 alongside Kendo Brands, LVMH’s beauty incubator. The company’s current FAQ still describes Fenty Beauty as a joint venture between Rihanna and Kendo. If the MarcyPen transaction closes as reported, LVMH would exit that ownership arrangement while Rihanna would retain her existing stake.
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Jay-Z’s Firm Already Has Business Ties To Rihanna
Further, a MarcyPen deal would not mark the investment group’s first involvement with one of Rihanna’s companies. Marcy Venture Partners, the firm Jay-Z co-founded before it became part of MarcyPen, previously invested in Savage X Fenty. That relationship dates back several funding rounds. TechCrunch reported that Marcy Venture Partners counted the lingerie company among its portfolio investments by 2021.
Fenty Beauty remains one of the most consequential pieces of Rihanna’s business portfolio. Its 2017 debut drew attention for launching foundation in 40 shades, particularly expanding options for consumers with deeper skin tones who had historically been underserved by major cosmetics brands. The company has since expanded across beauty categories while becoming a significant contributor to Rihanna’s fortune.
The reported negotiations would deepen a business connection between Rihanna and Jay-Z’s investment network that already extends beyond music. However, the deal is not finished yet. Puck states that an agreement could be signed later in October.
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