It’s an end of an era for Fenty Fashion. Just under two years of its launch in November 2019, singer-entrepreneur Rihanna and giant beauty conglomerate LVMH has decided to pull the plug on its Paris-based luxury mansion.
As per the reports from WWD and Business of Fashion, LVMH and Rihanna have come to an agreement to close the doors of Fenty mansion. "Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions," said an LVMH representative in a statement to WWD.
According to the reports, Fenty fell prey to the ongoing global pandemic as well as to the challenges that rose from operating a brand remotely. Another problem that the brand faced was securing a loyal customer fan base as not many could relate to its higher-priced items who are regular shoppers of its lingerie and beauty line. The luxury brand stopped posting on its Instagram account with its last new collection dated back to November 2019. The brand is expected to wind up all its operations by end of February or early March.
However, it’s not all bad for bad girl Riri’s fashion line. With Fenty bowing out of the spotlight, LVMH is focusing on the pop-singer’s lingerie and beauty line. The fashion giant has plans to expand Rihanna’s SavagexFenty and Fenty Skin. On Wednesday, Savage x Fenty stated that private equity giant L Catterton, in which LVMH has a stake, led a $115 million Series B fundraising round to support its growth and upcoming expansion into retail. Her other lines like Fenty Skin and Fenty Beauty are also doing good for themselves with an ever-increasing customer base.
When one door closes, opens another. What are your thoughts about this?
(Source- BOF, WWD)