op star and business mogul Rihanna has lost about $36 million after her luxury fashion brand, Fenty, launched with Louis Vuitton’s parent company, LVMH, failed to take off.
According to new financial records from her British firm, Denim UK Holdings, the singer’s high-end clothing line ran at a huge loss before it was shut down in 2021.
Rihanna, 37, started Fenty in 2019 in partnership with LVMH — becoming the first Black woman to lead a fashion brand under the luxury group. But the brand struggled to survive, especially after the COVID-19 pandemic hit. Travel restrictions made it hard for her to visit Paris and Italy to oversee designs and production.
Reports show Rihanna invested about $34.8 million, while LVMH also put in a similar amount. The brand operated under the name Project Loud France, a tribute to her fifth album Loud.
However, despite the hype, the luxury line didn’t connect with buyers. Many fans found the prices — like a $1,000 denim jacket and an $810 corset dress — too expensive compared to her more affordable ventures such as Fenty Beauty and Savage X Fenty.
In 2021, Rihanna and LVMH agreed to close the fashion arm and focus on her growing beauty and lingerie businesses.
In a joint statement, they said:
“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.”
Despite the setback, Rihanna remains one of the world’s wealthiest entertainers, with a net worth of around $1.4 billion, thanks to her other successful ventures.
