Global music icon and billionaire businesswoman Rihanna has reportedly suffered a $36 million loss following the collapse of her high-end fashion label, Fenty, which she launched in collaboration with luxury conglomerate Louis Vuitton Moët Hennessy (LVMH).
According to new financial disclosures from her British company, Denim UK Holdings, the singer’s luxury brand faced significant financial setbacks before officially shutting down in 2021.
Rihanna, now 37, introduced Fenty in 2019 under the LVMH group — becoming the first Black woman to ever head a brand within the French luxury powerhouse.
However, the label struggled to thrive, with the COVID-19 pandemic and travel restrictions hindering her ability to manage operations in Paris and Italy.
Documents revealed that Rihanna invested around €29.9 million (approximately $34.8 million) through Denim UK Holdings, while LVMH contributed a similar amount.
The venture operated under Project Loud France, a reference to her fifth studio album, Loud.
Despite the immense buzz surrounding its launch, Fenty struggled to attract a stable customer base.
Many products were criticized for being overpriced, including a $1,000 padded denim jacket and an $810 corseted shirtdress — a stark contrast to the affordability of her successful ventures, Fenty Beauty and Savage X Fenty.
In 2021, Rihanna and LVMH mutually decided to discontinue the fashion house to focus on her growing beauty and lingerie businesses.
In a joint statement, both parties affirmed their continued commitment to strengthening the broader Fenty brand, saying: “LVMH and Rihanna reaffirm their ambition to concentrate on the growth and long-term development of the Fenty ecosystem, focusing on cosmetics, skincare, and lingerie.”
