It has only been two years since Rihanna's luxury fashion house Fenty was launched under LVMH, but the label now looks set to close. The luxury conglomerate has revealed to numerous outlets that operations will now pause at the maison after it came to an agreement with the superstar.
"Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions," a spokesperson told WWD.
The news is not only disappointing for Rihanna, but for the industry as a whole, which was celebrating the milestone of the first Black woman to head up a luxury brand at the conglomerate. It was also the first fashion house LVMH had started from scratch in almost four decades.
However, it is not all bad news for the brand, whose lingerie arm is performing far better – and has just secured a huge investment. In news released by the company today, Savage x Fenty revealed that L Catterton (an equity firm in which LVMH has a stake) will be investing $115 million into the business to help support with the company's rapid growth and expansion into retail.
"Lingerie is about celebrating your body and that’s what Savage is all about," Rihanna said. "Savage to me is such a powerful word. It’s about being confident, in charge, and taking ownership of our choices."
"This brand is a home, a hub and a safe space for everyone – regardless of shape, size, ethnicity, gender identity or sexual orientation. It is a representation of all and a validation that everyone is beautiful no matter what."
There is also of course the wildly successful Fenty make-up brand, which was joined by a skincare line last summer. It is here, and at Savage, where the business looks to be focussing.
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