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Rihanna has transformed the concept of a global entrepreneur by seamlessly merging music with fashion to establish a luxury empire. In 2019, she made waves as the first Black woman to helm a luxury fashion house under the esteemed LVMH group. Her brand, Fenty, is known for its bold and inclusive designs that challenge the norms of high fashion. Despite her successful ventures like Fenty Beauty and Savage X Fenty, Rihanna faced financial setbacks when one of her earlier collaborations with LVMH did not pan out as planned. Here’s what unfolded.
Rihanna reportedly lost $36 million after a failed fashion venture under LVMH
Rihanna’s collaboration with LVMH, the luxury giant behind iconic brands like Louis Vuitton, Dior, and Fendi, marked a significant milestone in May 2019. Her vision was to establish a new luxury fashion house, simply named Fenty. This partnership was groundbreaking as Rihanna became the first woman, and notably the first woman of color, to create an original brand under LVMH’s prestigious umbrella.
“Creating a fashion line with LVMH is a truly momentous occasion for us,” Rihanna expressed at the launch, as noted on her official website. “Mr. Arnault has offered me an unparalleled opportunity to craft a fashion house within the luxury sector, unrestrained by artistic boundaries. I couldn’t have asked for a better creative and business partner, and I’m eager for the world to see our creation.”
Fenty’s debut collection was set for the spring of 2019, as reported by CNBC. However, by February 2021, Rihanna and LVMH decided to halt the ready-to-wear line. Activities “based in Europe” were suspended “pending better conditions,” highlighted by CNBC again. This decision was largely influenced by the challenging global market conditions, exacerbated by the COVID-19 pandemic.
According to DailyMail.com, Rihanna’s Denim UK Holdings financial records revealed a $36 million loss from the unsuccessful venture. Rihanna had invested approximately $34.86 million, while LVMH had contributed $34.88 million to the project.
According to DailyMail.com, Rihanna’s Denim UK Holdings accounts show she lost $36 million from the failed venture. Rihanna reportedly put $34.86 million toward the venture. LVMH contributed $34.88 million.
Rihanna previously talked about potentially failing with her Fenty line
In May 2019, Rihanna spoke to The New York Times about partnering with LVMH. The reporter asked Rihanna about the potential to fail with the new venture.
“You know what’s crazy, I have a tattoo that’s written backward so I can read it in the mirror: ‘Never a failure. Always a lesson.’ So what you just said is, like, boom! How you gonna learn without making mistakes?” Rihanna explained. “Did you believe your mom when she said, ‘Don’t touch the iron?’”
Rihanna went on to call the partnership “the beginning of a new world.”
“Everything was a collaboration, so I’ve plugged my DNA into theirs, but there was already a blueprint,” she continued. “I’m learning so much: about the tailoring, the fabric — I’m seeing fabrics that I’ve never seen in my life.”
LVMH is exploring selling its 50% stake in Fenty Beauty
LVMH, the luxury group that co-owns Fenty Beauty with Rihanna, is reportedly exploring the sale of its 50% stake in the brand. According to Reuters, the company has hired investment bank Evercore to help find possible buyers as it considers stepping back from the partnership.
Fenty Beauty, which amassed approximately $450 million in sales in 2024, is estimated to be worth between $1 billion and $2 billion. The move could be part of LVMH’s plan to simplify its business and focus on areas with faster growth. While nothing has been finalized, the potential sale has sparked curiosity about what this means for Fenty Beauty’s future.
