Pic: Fenty
LVMH Mot Hennessy Louis Vuitton, the world’s largest luxury group, recently put on hold pop star Rihanna’s Fenty fashion collection launched in May 2019. “Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions,” the French luxury conglomerate said in a statement to a news agency.
Rihanna became the first black woman to head a luxury house with LVMH, which owns such labels as Christian Dior, Givenchy and Louis Vuitton.
LVMH said that the Paris-based company and Rihanna will focus their efforts on the growth and long-term development of Fenty on cosmetics, skincare and lingerie.
L Catterton, the private equity fund backed by LVMH founder and billionaire Bernard Arnault, meanwhile, led a $115 milion series B funding along with other investors into Savage X Fenty, Rihanna’s lingerie brand.
The funds will help power the innerwear business’s next phase of growth and enable its retail expansion after it experienced an explosive rise in revenue in the past year, LVMH said. The goal is to support ‘the Fenty ecosystem focusing on lingerie, cosmetics and skincare’, the LVMH statement said.
Fibre2Fashion News Desk (DS)
LVMH Mot Hennessy Louis Vuitton, the world's largest luxury group, recently put on hold pop star Rihanna's Fenty fashion collection launched in May 2019. "Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions," the French luxury conglomerate said in a statement to a news agency.