Less than two years after its launch, LVMH and Rihanna have agreed to close down her Paris-based fashion line Fenty, an LVMH spokesperson said Wednesday.
Fenty was the first fashion house LVMH had started from scratch since it backed Christian Lacroix in 1987.
Emboldened by the runaway success of the group’s partnership with Rihanna on her Fenty makeup line, which brought in around half a million dollars in sales in its first year, LVMH had positioned the project as a long-term initiative.
But the brand’s $300 sunglasses and $950 denim coats have not had the same broad relevance as the pop singer’s $35 matte foundation.
Stay tuned to BoF updates to this developing story.
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.
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