In news few anticipated, Rihanna and LVMH are shuttering their Fenty fashion house – less than two years after it was established.
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WWD report that the star and the iconic fashion giant have “mutually agreed” to put an indefinite pause on the production of the luxury line.
In a statement, LVMH confirmed the development saying:
“Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions.”
First announced in May 2019, the establishment of the line was a game-changer given that Fenty was the first fashion brand launched from the ground up by LVMH since Christian Lacroix was founded in 1987.
Despite the development, LVMH is said to be doubling down on its broader commitment to the Fenty empire – with plans to support Fenty Beauty and Fenty Skin.
Per WWD, the luxury juggernaut is keen to join forces with Rih’s lingerie line.
Private equity firm L Catterton (in which LVMH has a stake), led a $115 million funding round to support the upcoming expansion into retail of Savage x Fenty.