Why did Rihanna and LVMH pause Fenty fashion? Brand focuses on lingerie, skincare and cosmetics with $115M fund
Pop queen Rihanna along with LVMH Moët Hennessy Louis Vuitton has decided to pause Fenty’s fashion line within two years of its launch while her new lingerie line Savage x Fenty gets $115 million in new funding.
In a new statement to a publication, LVMH stated, “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,” Pitchfork reported.
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Why did Rihanna pause Fenty fashion?
According to the statement of LVMH, Fenty intends to focus more on lingerie, skincare, and cosmetics with a boost of $115 million dollars while the "ready to wear" collection will be paused "pending better conditions".
Rihanna last rolled out a fashion show for Savage x Fenty in the fall of 2020 which featured some of the biggest music stars including Travis Scott, Rosalía, Bad Bunny, Ella Mai, Lizzo, Big Sean, Miguel, Roddy Ricch, Rico Nasty and more. LVMH’s finance chief Jean-Jacques Guiony talked about the brand last year in October stating, it is “a work in progress”: “We are still in a launching phase, and we have to figure out exactly what is the right offer. It’s not something that is easy.”
Rihanna’s Fenty fashion under the luxury fashion house LVMH was founded in 2017 and later launched in May 2019. Rihanna was known to be the first woman and first woman of color to be added under the LVMH brand. While launching the brand, the ‘Umbrella’ crooner stated, "I couldn't imagine a better partner both creatively and business-wise, and I'm ready for the world to see what we have built together."
Speaking of LVMH’s joint venture with Rihanna’s Fenty, CEO of LVMH, Bernard Arnault had said, "Everyone knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader." Rihanna was also seen thanking Arnault through a tweet stating, “big day for the culture. thank you Mr Arnault for believing in this little girl from the left side of an island, and for giving me the opportunity to grow with you at @LVMH.”
big day for the culture.
— Rihanna (@rihanna) May 10, 2019
thank you Mr.Arnault for believing in this little girl from the left side of an island, and for giving me the opportunity to grow with you at @LVMH https://t.co/6ToY8MkDQB pic.twitter.com/Q9eF35576T
Reportedly, a few staff who were handling the operations in Europe will stay to wind down the remaining activities. Overall, the focus of LVMH and Fenty will roar in full force with Savage x Fenty.