LVMH hits pause button on Rihanna’s fashion brand

Louis Vuitton operator LVMH and music star Rihanna have agreed to suspend her style line Fenty significantly less than two several years right after its launch, the French luxury merchandise big said on Wednesday.

LVMH said in a statement that Fenty’s all set to wear exercise, based in Paris, would be “set on keep” pending improved circumstances – a rare setback for the luxury group, which has weathered the coronavirus crisis improved than most rivals.

The R&B singer and LVMH launched the Fenty style manufacturer in May 2019, only the next time the French group had set a label up from scratch as it appeared to tap soaring demand from customers for luxury celebrity collaborations.

LVMH did not elaborate on the explanations for hitting the pause button but right after a big launch and debut selection, the manufacturer held a low profile and never followed up with main marketing and advertising functions, even just before the Covid-19 crisis.

Trade publication WWD, which 1st noted information that the label was becoming suspended, said on Wednesday that a skeleton employees remained at the Paris headquarters to wind down remaining operations.

Requested about the style venture during the group’s 3rd quarter earnings simply call last Oct, LVMH’s finance main Jean-Jacques Guiony known as it “a function in development”. “We are continue to in a launching phase, and we have to determine out specifically what is the proper provide” Guiony said. “It really is not a thing that is effortless.”

LVMH also said on Wednesday that private equity fund L Catterton, which is connected to the group, had taken a stake in Savage X Fenty, Rihanna’s lingerie line.

“LVMH and Rihanna reaffirm their ambition to focus on the expansion and the long-term growth of Fenty ecosystem focusing on cosmetics, skincare and lingerie,” it extra.