LVMH will continue to collaborate with the singer on Fenty cosmetics and lingerie.
In January 2019, Rihanna inked a deal with French fashion conglomerate LVMH—home to Louis Vuitton, Dior, Givenchy, Marc Jacobs, and other high-end brand names—that led to the establishment of Fenty as a new fashion line. Now, LVMH and Rihanna have agreed to suspend the fashion line, instead opting to focus on supporting the rest of the “Fenty ecosystem,” including cosmetics, skincare, and lingerie. Concurrent with the announcement, it was revealed that Savage X Fenty completed a $115 million round of fundraising for its “upcoming expansion into retail.”
When reached by Pitchfork, LVMH issued the following statement:
Following the completion of a fundraising round where L Catterton has taken a stake into Savage X Fenty, 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.
In the meantime, Rihanna and LVMH have jointly made the decision to put on hold the RTW [ready-to-wear] activity, based in Europe, pending better conditions.
Business of Fashion reports that another disconnect Fenty faced was securing loyal customers. The luxury line launched as an extension of Rihanna’s own personal style but the brand’s higher-priced items ($300 sunglasses or $800 heels, for example) didn’t pique the interest of fans who are regular shoppers at Rihanna’s Fenty Beauty, Fenty Skin, and Savage X.
That’s not to say LVMH and Rihanna won’t try their hand at another luxury brand in the future. If they did it once, they can do it again.