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| Image: Instagram |
Global music icon and business mogul Rihanna has reportedly incurred a $36 million loss following the closure of her high-end fashion label, Fenty, which she developed in partnership with luxury conglomerate Louis Vuitton Moët Hennessy (LVMH).
Newly released financial records from her British company, Denim UK Holdings, indicate that the luxury brand experienced substantial financial challenges before officially closing its doors in 2021. The documents show that Rihanna invested nearly €29.9 million (roughly $34.8 million) through Denim UK Holdings, while LVMH provided a similar investment.
Rihanna, now 37, made history when she launched Fenty in 2019, becoming the first Black woman to lead a brand under the LVMH umbrella. The fashion venture operated under the project name Project Loud France, a nod to her fifth studio album, Loud.
Despite the initial excitement and global attention, the brand struggled to secure a consistent customer base. High price points were a significant factor, with standout pieces such as a $1,000 padded denim jacket and an $810 corseted shirtdress drawing criticism for being prohibitively expensive. These prices stood in stark contrast to the accessibility of Rihanna’s other successful brands, including Fenty Beauty and Savage X Fenty.
The COVID-19 pandemic also disrupted Fenty’s operations, limiting Rihanna’s ability to manage the label across Paris and Italy, which compounded the challenges faced by the young fashion house.
By 2021, both Rihanna and LVMH decided to discontinue the fashion line, choosing instead to focus on the expansion of her other flourishing ventures. In a joint statement, they affirmed their dedication to the broader Fenty brand:
“LVMH and Rihanna reaffirm their ambition to concentrate on the growth and long-term development of the Fenty ecosystem, focusing on cosmetics, skincare, and lingerie,” the statement said.
While Fenty Fashion did not achieve the commercial success anticipated, it provided valuable lessons for Rihanna and highlighted the complexities of running a luxury fashion business. Unlike her other brands, Fenty Fashion had to navigate high production costs, exclusive pricing, and the competitive pressures of global luxury markets.
The closure allows Rihanna to channel her energy into ventures that have shown stronger returns. Fenty Beauty, launched in 2017, gained worldwide acclaim for its inclusive range of products, setting new industry standards. Similarly, Savage X Fenty has been praised for redefining the lingerie market through diverse sizing and bold marketing campaigns.
Though the $36 million loss marks a setback, Rihanna remains a billionaire and continues to expand her influence in business and entertainment. The end of Fenty Fashion signals a strategic refocus, emphasizing areas where her brand has the most impact and sustainability.
Rihanna’s experience with Fenty Fashion underscores her resilience as an entrepreneur and highlights the challenges even high-profile stars face in the luxury fashion world. By redirecting her attention toward successful ventures, she continues to build a diversified and enduring business empire.
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