Rihanna, LVMH put luxury Fenty brand on hold
The singer signed her fashion deal with the company in 2019
Although they signed a highly reported fashion deal in 2019, it looks like Rihanna and LVMH are putting their Fenty fashion line on hold.
Rihanna’s journey into fashion designing has been widely reported for years now. With Savage X Fenty, the singer made her fashion shows fully-scaled events streamed live on Amazon Prime Video. In 2019, Rihanna signed a fashion deal with LVMH, the parent company of Dior, Givenchy, and Fendi. Now, according to reports, Rihanna and the company are suspending their fashion line.
LVMH issued an official statement to Pitchfork on the suspension, which reads, “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.”
The statement adds that “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.”
Rihanna fans commiserated with each other after the news sharing their takes on the suspension and theories as to why it happened. Fashion and costume historian Shelby Ivey Christie tweeted, “Fenty has some good pieces. I think there wasn’t a huge media/marketing push or brand presence outside of IG — I’m curious if the value of Fenty pieces will appreciate once production halts because rare.”
In the same thread, she also tweeted, “I feel like I never saw a Fenty ad, only unpaid organic social — You need real paid media to drive a super new brand with price points like that imo.”
While the official partnership with LVMH is suspended, WWD reports that Savage X Fenty isn’t going anywhere. According to the report, “private equity giant L Catterton, in which LVMH has a stake, led a $115 million Series B fundraising round to support the upcoming expansion into retail of Savage x Fenty, Rihanna’s successful lingerie collection.”
Have you subscribed to theGrio’s podcast “Dear Culture”? Download our newest episodes now!
TheGrio is now on Apple TV, Amazon Fire, and Roku. Download theGrio today!