Rihanna lost more than $36 million after her luxury fashion empire collapsed. The artist had launched a clothing brand, Fenty, in collaboration with Louis Vuitton and its parent company, LVMH. The project, in which the singer was the majority shareholder, with 49.99%, was closed due to poor sales, notes Yahoo News.
PHOTO: Archive
The Fenty Beauty brand, launched in 2017 in partnership with LVMH’s in-house incubator Kendo Brands, has revolutionized the cosmetics industry through its focus on diversity and inclusion.
According to sources cited by Reuters, LVMH is considering the possibility of selling its 50% stake in Fenty Beauty, a brand co-owned by Rihanna, the 37-year-old singer and entrepreneur. The luxury goods giant has tapped investment bank Evercore to advise on the sale.
Launched with an innovative focus on inclusivity, Fenty Beauty introduced 40 shades of foundation in its debut campaign, quickly forcing other brands to expand their own ranges. In recent years, the brand has continued to be a leader in diversity, including not only women of different shades and skin types, but also men in its advertising campaigns.
Rihanna, whose full name is Robyn Rihanna Fenty, emphasized that her goal was to do “for women everywhere to feel included”, setting a new standard in the beauty industry. “Fenty Beauty by Rihanna was created for everyone: for women of all shades, personalities, attitudes, cultures and races. We wanted everyone to feel included. That’s the real reason we created this line”said the artist.
Since then, Fenty Beauty has evolved into a global brand, expanding beyond makeup and cosmetics to include hair care, skin care and fragrances, while maintaining a focus on authenticity and representation. The brand generated an estimated $450 million in net income in 2024 and could be valued between $1 billion and $2 billion.
The success of Fenty Beauty has also supported Rihanna’s other ventures, including the Savage X Fenty lingerie line, as well as Fenty Fashion. The fashion brand was closed in 2021 after, although it had initially been promising, Rihanna lost about 36 million dollars. For example, a padded jacket cost almost 1000 dollars, and a dress-shirt with a corset – about 810 dollars.
Rihanna had been optimistic about Fenty’s chances of success and believed that many items would become “basic” in wardrobes around the world. At the launch of the line, the artist stated: “Women are forces of this earth. We are multiple, complex, vulnerable, yet resilient, and Fenty speaks to all of our complexities. Sometimes I want to be submissive, many days I’m completely in charge, and most days I feel like I’m both…so it was imperative to create a line versatile enough to embrace and celebrate us in that way.”
As of 2021, Rihanna had an estimated net worth of $1.7 billion and was named “richest female musician” and, according to Oprah Winfrey, “richest female artist” by Forbes.
News of a possible sale comes a month after the Fenty Skin Body range hit the shelves of its new retail partner, Ulta Beauty, with a slew of new products. Neither LVMH nor Rihanna have commented publicly on the potential sale of the brand.
