Say it ain’t so, it’s a wrap for the Paris-based luxury house know as Fenty… for now.
Both Women’s Wear Daily and Business of Fashion report Wednesday (Feb.10) that Rihanna and LVMH (Moët Hennessy Louis Vuitton) have mutually agreed to shutter Fenty maison less than two years after it was first launched. In a statement issued to Women’s Wear Daily, a rep for LVHM announced the luxury conglomerate “have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions.”
WWD reports that a skeleton staff remains in the Paris headquarters to help wind down whatever remaining operations. The website also states that LVMH will now focus on Rihanna’s other successful ventures Fenty Beauty and Fenty Skin, and get involved in her insanely-popular lingerie line, Savage X Fenty.
According to WWD, private equity giant L Catterton help lead a $115 million Series B fundraising round to help support Savage X Fenty’s upcoming expansion. It has been long hinted that Rihanna was looking to take Savage X Fenty into the activewear lane.
Complex reports that while this is being reported as a definitive pause, both Rihanna and LVMH “haven’t ruled out taking a second run” and could start another luxury fashion house in the future.
Rihanna is reportedly sad at the developments. The pop star is usually very hands-on when it comes to her brands and would fly to Paris to meet with fabric suppliers and speak with designers. Due to the COVID-19 pandemic, she has been stuck in Los Angeles and was only able to focus on her US-based brand Fenty Skin.
Despite this news, we are sure that Rihanna’s reign won’t let up any time soon.
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