Rihanna's Fenty Fashion Brand with LVMH Ends with $36 Million Loss
Singer-songwriter Rihanna reportedly suffered a loss of approximately $36 million (about 5.3 billion yen) with the closure of her luxury fashion brand Fenty, created in collaboration with LVMH, which also includes Louis Vuitton, Dior, and Tiffany.
The brand was established in 2019 under the name 'Project Loud France,' inspired by the name of Rihanna's fifth album, 'Loud.' Rihanna and LVMH each invested approximately 30 million euros (about 5.2 billion yen). However, the brand ceased operations in 2021 as Rihanna focused on her cosmetics and lingerie businesses.
According to financial reports from the UK corporation Denim UK Holdings, Rihanna incurred substantial losses from this venture. The British newspaper Daily Mail explains that travel restrictions due to the pandemic prevented Rihanna from visiting Parisian ateliers and Italian workshops, hindering the brand's operations.
In its early stages, Fenty garnered attention for its pricing, with padded denim jackets priced at around $1000 (approximately 150,000 yen) and corset-style shirt dresses at about $810 (approximately 120,000 yen), positioning itself as a high-end brand unlike Rihanna's other ventures, such as Fenty Beauty and Savage X Fenty.
Rihanna has achieved success in music, beauty, and fashion throughout her 20-plus-year career, and her current estimated net worth is over $1 billion (approximately 147 billion yen).
Source :https://blog.naver.com/tmrlahxhdbal
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