Louis Vuitton owner, LVMH, and music star, Rihanna, have agreed to close her fashion line, Fenty, less than two years after its launch.
LVMH, on wednesday, said in a statement that Fenty’s ready to wear activity, based in Europe, would be “put on hold” pending better conditions.
It said that LVMH backed investment fund L Catterton had taken a stake into Savage X Fenty, Rihanna’s lingerie line.
“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,” it added.
LVMH and the R&B singer launched the Fenty fashion brand in 2019. Fenty named after Rihanna’s full name, Robyn Rihanna Fenty, was meant to build on the singer’s joint cosmetics venture with LVMH, with a full range of clothing, shoes and accessories.
