At the beginning of the 2019 documentary Chiara Ferragni: Unposted, the Italian Instagram star walks into a tattoo parlor to have her nipple pierced.
The camera focuses on their beautiful face and captures a gesture of pain as they do it.
Sharing these details of her personal life, in which she usually combines elegance and fun, has helped the fashion influencer have 21 million followers, in addition to collaborations with Dior, Lancôme and other brands.
Ferragni, 33, is considering going public to monetize his character, who has been dedicated to clothing, lifestyle and everything in between for more than 10 years, he revealed in September in an interview with an Italian newspaper.
An IPO in Milan, the city where he resides, would be a publicity stunt for Borsa Italiana boss Raffaele Jerusalmi.
But it would also test the staying power of the influencer model.
Social media celebrities have been a mainstay of fashion house marketing strategy.
By building a reputation, they can promote a certain look to Instagram fans, for a price.
Brands typically spend between 10% and 20% of their promotional budget on this type of marketing, up to a total of $ 6.5 billion in 2019, four times the 2016 figure, according to the Influencer Marketing Hub.
Some global icons have already built their empires around their brand.
Barbados pop star Rihanna's Fenty Beauty cosmetics brand (trailing LVMH) generated sales of € 500 million in the year following its launch.
Last year, Rihanna also gained the endorsement of Bernard Arnault for her fashion label.
And perfume house Coty agreed to pay $ 600 million for 51% of reality star Kylie Jenner's makeup business.
Ferragni's IPO would not compete at those levels.
It has not specified which of the three companies it controls would enter the IPO or when it would take place.
Sisterhood, which manages its marketing campaigns, declared a turnover of 11 million euros last year, according to information in the Italian press.
Adding the fashion company Serendipity and TBS Crew, owner of Ferragni's blog, The Blonde Salad, they generated about 20 million euros in 2019.
With a multiple of four times its annual turnover, which is what Prada shares are listed at, the Ferragni group would have a value of around 80 million euros.
A small number, but it would surely be the first IPO of a one-man brand built exclusively on self-promotion on the web.
As the pandemic is forcing companies to reduce their marketing spending, some are beginning to question the influencer model.
They will also have to convince investors that digital businesses built around a pretty face are not just about looks.