LVMH has officially announced the closure of the luxury ready-to-wear brand Fenty created by renowned singer Rihanna.
The brand had been in existence since 2019, in fact, it was the first time since 1987 that LVMH launched a luxury house from scratch, the first time was with the luxury house, Christian Lacroix.
Rihanna also made history by becoming the first black woman to manage a luxury brand for LVMH.
According to Women’s Wear Daily, LVMH and Rihanna have reached an agreement that the Fenty house will be closed. In a statement to WWD, a representative of LVMH said: “Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions”.
The e-commerce site should disappear in the coming weeks, while the luxury brand’s Instagram account has no longer been active since January 1.
The luxury brand Fenty, known for its high-end prices, has reportedly failed to win over fans of the singer. However, Rihanna can still count on her Fenty Beauty empire as well as Fenty Skin and her successful Savage x Fenty lingerie line.
Indeed, Rihanna’s make-up brand achieved a turnover of about half a billion dollars in the first year of its launch and continues to grow.
“LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare and lingerie”, LVMH and Rihanna added in the statement to Women’s Wear Daily.
Finally, LVMH and Rihanna have not yet ruled out the possibility of relaunching Fenty in the future. Check out some of their pieces from over the past year of existence.