THE WHAT? LVMH and Rihanna have announced that they are to put the singer’s ready-to-wear operations on hold due to falling demand as a result of the pandemic.
THE DETAILS Taking to a statement, Rihanna and parent company LVMH said, “Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions.”
THE WHY? Despite having been launched just two years ago, the range is said to have been overpriced for the Fenty consumer.
While the ready-to-wear collection has been wound down, the star’s lingerie, beauty and skincare arms will still continue, with private equity firm L Catterton, backed by LVMH founder and billionaire Bernard Arnault, this week leading a $115 million series B funding round into Savage X Fenty, Rihanna’s lingerie brand.
LVMH cited the long-term goal of supporting the “Fenty ecosystem focusing on lingerie, cosmetics and skincare.”