According to WWD, TechStyle Fashion Group is said to have struck a deal with Rihanna for a lingerie line.
A publicist for Rihanna and Shawn Gold, the TechStyle corporate marketing officer, did not make any comments on the deal when contacted.
Sources claim that 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,” the source explained. .
TechStyle is well versed in creating celebrity collections. They’re the company behind KateHudson’s Fabletics label, as well as KimKardashian’s ShoeDazzle and JustFab
No official information on the collection has been released yet but just like everything else Rhianna does we’re pretty sure that once the collection drops, it’ll be gone.