Megastar Rhianna reportedly plans to launch a new line of lingerie with TechStyle, the parent company of Kate Hudson’s Fabletics, according to website WWD who broke the news. This could be a key strategic move by company executives to position for an IPO.
TechStyle has done well in recent years, thanks in part to raising $300 million in investment capital and the growth of its group of online clothing brands, including signature brand Fabletics. Signing Rhianna to develop her own brand helps to expand its current offerings with another successful celebrity label.
Last year, Rhianna launched her makeup line Fenty Beauty, which quickly became a commercial and critical success. The singer also debuted her own fashion line in 2016 called Fenty Puma, which was shown during Paris fashion week.
According to market analysts, to launch a successful IPO a company would need to show continued growth, as well as the potential to attract new customers with new offerings.
WWD reached out to Rhianna’s publicist as well as the Corporate Marketing Officer of TechStyle, both of whom declined to comment on the deal. No specific launch date has been announced, but it seems the deal has been in place and samples have already been produced.
Fabletics is the best-known brand name under the TechStyle group, but went through a rough time in 2015 when customers claimed they were tricked into signing up for a membership and then had difficulty canceling their subscriptions. Fabletics has since revamped its cancellation process and beefed up its customer service response.
The brand has sought to distinguish itself by creating affordable and attractive athletic wear. It began offering a wider range of sizes last year in an online market that has gravitated towards inclusivity. Fabletics is also attracting celebrities to create new looks. Most recently, they launched a new line of athletic apparel and shoes developed by Demi Lovato.
Another celebrity brand in the TechStyle Group is ShoeDazzle, cofounded by Kim Kardashian in 2009 alongside Brian Lee and Robert Shapiro. Customers can set up a style profile on Shoe Dazzle’s website, and then receive offers for discounts and new arrivals when they shop online.
TechStyle’s brands are typically offered through online subscription services. Online marketing is a key strategy for the company to increase overall brand recognition and customer retention, with a focus on social media advertising. According to WWD, the company spends $125 million per year on media buys. And to date, it has over 4.5 million subscribers.