Rihanna (Photo by Kevin Mazur/Getty Images for Savage X Fenty Show Vol. 2 Presented by Amazon Prime Video)
#Roommates, the fashion world is currently trying to process the news surrounding Rihanna and her Fenty fashion house. According to recent reports, LVMH just announced that is has decided to officially shut down Rihanna’s Fenty fashion line after less than two years.
@BOF reports, after launching back in the fall of 2019, LVMH and Rihanna have mutally agreed to cease operations of her Paris-based fashion line Fenty. Fenty was the first fashion house LVMH started from scratch since 1987. Initially created to match the success of Rihanna’s popular Fenty beauty line, her fashion house never quite caught on the same with fans in terms of popularity. Sensing the prices could be an issue, Rihanna reportedly expressed concern that high prices could be alienating her devoted fans. In response, LVMH agreed to sell items from the brand at a reduced price, but that didn’t translate to increased sales.
After the Fenty fashion house failed to take off within its first year, the brand switched up its design team and brought on new managing director, Bastien Renard in fall 2020. Reports state that despite best efforts, restructuring Fenty didn’t create the financial success many were hoping for—especially in comparison to Rihanna’s incredibly successful Savage X Fenty lingerie brand.
The ongoing COVID-19 pandemic also appeared to play a role in its lackluster performance, with LVMH reportedly weighing the decision to halt the Fenty ready-to-wear brand as something that could be temporary, “pending better conditions.”
After suspending Fenty fashion, LVMH-backed private equity giant L Catterton will now invest in her Savage X Fenty lingerie line, a spokesperson said. The brand had been seeking an investment of $100 million to expand into new categories, according to reports.
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