LVMH hits pause button on Rihanna’s fashion brand

Louis Vuitton proprietor LVMH and songs star Rihanna have agreed to suspend her manner line Fenty a lot less than two many years soon after its start, the French luxurious items large claimed on Wednesday.

LVMH claimed in a statement that Fenty’s ready to have on action, dependent in Paris, would be “place on hold” pending improved conditions – a scarce setback for the luxurious team, which has weathered the coronavirus crisis improved than most rivals.

The R&B singer and LVMH introduced the Fenty manner brand in May perhaps 2019, only the second time the French team had established a label up from scratch as it seemed to tap soaring desire for luxurious celebrity collaborations.

LVMH did not elaborate on the explanations for hitting the pause button but soon after a major start and debut selection, the brand held a reduced profile and never ever followed up with important promoting events, even prior to the Covid-19 crisis.

Trade publication WWD, which very first documented news that the label was staying suspended, claimed on Wednesday that a skeleton staff remained at the Paris headquarters to wind down remaining operations.

Requested about the manner venture during the group’s 3rd quarter earnings contact very last Oct, LVMH’s finance chief Jean-Jacques Guiony named it “a perform in progress”. “We are even now in a launching stage, and we have to figure out just what is the right provide” Guiony claimed. “It truly is not anything that is easy.”

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

“LVMH and Rihanna reaffirm their ambition to concentrate on the advancement and the prolonged-time period development of Fenty ecosystem concentrating on cosmetics, skincare and lingerie,” it added.