According to recent reports, LVMH just announced that is has decided to officially shut down Rihanna’s Fenty fashion line after less than two years.
@BOF reports, after launching back in the fall of 2019, LVMH and Rihanna have agreed to cease operations of her Paris-based fashion line Fenty. Fenty was the first fashion house LVMH started from scratch since 1987. Created to match the success of Rihanna’s popular beauty line; her fashion house never quite caught on the same with fans. Sensing the prices could be an issue, Rihanna reportedly expressed concern that the label’s high prices could alienate her sprawling fan base. In response, LVMH agreed to sell items at a lower price but that didn’t appear to help.
After the project failed to take off in its first year, the brand switched up its design team and brought on a new managing director; Bastien Renard, who joined in fall 2020. Reports state that the restructuring of the fashion brand didn’t create the financial success they were hoping for; especially in comparison to Rihanna’s incredibly successful Savage X Fenty lingerie brand.
The ongoing COVID-19 pandemic also appeared to play a role; with LVMH positioning the decision to halt the Fenty ready-to-wear offering as something that could be temporary; “pending better conditions.”
After suspending Fenty fashion, LVMH-backed private equity giant L Catterton; will invest in her Savage X Fenty lingerie line, a spokesperson said. The brand had been seeking an investment of $100 million to expand into new categories, according to reports.