LVMH is putting a hold on Fenty, Rihanna’s Paris-based ready-to-wear label. The luxury conglomerate announced the collaboration with the music superstar and business mogul in 2019, subsequently introducing seasonal sportswear collections to great fanfare.
But, according to reports, sales for the high-end line did not match the buzz.
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Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions,” reads a statement by LVMH, per WWD.
The news of Fenty’s closure, however, isn’t the end of LVMH’s partnership with Rihanna. The company has seen strong sales with Fenty Beauty and Fenty Skin, which is operated under LVMH’s Kendo Holdings, Inc.
Rihanna’s lingerie label, Savage x Fenty, which was launched with TechStyle Fashion Group in 2018, has also performed well in the market.
Most recently, the intimates brand received $115 million in Series B from equity firm L Catterton, which has ties to LVMH.