LVMH shutter’s Rihanna’s Fenty Fashion Line after less than two years
Luxury-goods company LVMH is putting a hold on Fenty, Rihanna’s Paris-based ready-to-wear label.
The collaboration which launched in 2019 to great fanfare offered oversized jumpers, matching trousers, hoodies, leather skirts, sweater and shirtdresses, denim, and eyewear. However according to reports, sales for the high-end line got off to a slow start and fell below expectations during the pandemic.
‘Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions. LVMH and Rihanna remain committed to their ambition to focus on the growth and long-term development of the Fenty cosmos, with a focus on cosmetics, skin care and lingerie,’ the pop superstar and Paris-based conglomerate said in a statement to WWD.
While the announcement comes as a surprise to many, LVMH has said that the indefinite pause is subject to better conditions but did not elaborate further. Further, the decision to shutter Fenty is not the end of LVMH’s partnership with Rihanna. The subsidiary lines Fenty Beauty and Fenty Skin as well as the successful lingerie line Savage X Fenty which has seen strong sales will continue. The lingerie line recently received 115 million USD in Series B from equity firm L Catterton a private equity firm backed by LVMH.
One can only hope that at some point the company will give the Fenty project another chance.
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