LVMH hits pause button on Rihanna’s fashion brand

Louis Vuitton owner LVMH and songs star Rihanna have agreed to suspend her vogue line Fenty a lot less than two several years soon after its start, the French luxurious merchandise large mentioned on Wednesday.

LVMH mentioned in a statement that Fenty’s ready to dress in exercise, based mostly in Paris, would be “set on maintain” pending much better situations – a scarce setback for the luxurious group, which has weathered the coronavirus crisis much better than most rivals.

The R&B singer and LVMH introduced the Fenty vogue brand in May perhaps 2019, only the 2nd time the French group had established a label up from scratch as it looked to faucet soaring demand for luxurious celebrity collaborations.

LVMH did not elaborate on the reasons for hitting the pause button but soon after a huge start and debut collection, the brand retained a reduced profile and never ever adopted up with important advertising and marketing activities, even right before the Covid-19 crisis.

Trade publication WWD, which 1st claimed news that the label was remaining suspended, mentioned on Wednesday that a skeleton employees remained at the Paris headquarters to wind down remaining functions.

Requested about the vogue undertaking in the course of the group’s third quarter earnings get in touch with last October, LVMH’s finance chief Jean-Jacques Guiony known as it “a get the job done in progress”. “We are continue to in a launching phase, and we have to determine out just what is the appropriate supply” Guiony mentioned. “It truly is not anything that is straightforward.”

LVMH also mentioned on Wednesday that personal fairness fund L Catterton, which is linked to the group, had taken a stake in Savage X Fenty, Rihanna’s lingerie line.

“LVMH and Rihanna reaffirm their ambition to focus on the growth and the lengthy-term development of Fenty ecosystem concentrating on cosmetics, skincare and lingerie,” it added.