Pop star Rihanna is joining French luxury conglomerate LVMH to launch a new fashion house under her Fenty brand, selling ready-to-wear clothing, shoes and accessories.
The Paris-based label will make its debut this spring, LVMH said in a statement confirming earlier reports on the plans. Rihanna joins other singers, like Beyonce, in developing their own fashion lines to capitalise on Instagram-fuelled celebrity buzz that’s driving the industry’s sales.
The move represents a rare foray into building a new brand for the owner of Louis Vuitton and Dom Perignon Champagne, which has added labels ranging from Christian Dior to Rimowa suitcases via acquisitions. The agreement links one of the biggest cultural influencers with the world’s largest luxury conglomerate – led by the world’s third-richest person, with an $88bn fortune, according to the Bloomberg Billionaires Index.
LVMH CEO Bernard Arnault “has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits,” said Rihanna, whose surname is Fenty.
The Barbadian singer already has a cosmetics line under the Fenty Beauty by Rihanna label, which is sold in LVMH’s Sephora stores. Rihanna previously served as a brand ambassador for athletic shoe company Puma, which was formerly controlled by LVMH rival Kering SA.
Beyonce last month signed with Adidas to develop footwear and apparel under her Ivy Park label.
“Through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader,” Arnault said. No financial details of the agreement were provided.
Published at Fri, 10 May 2019 19:43:44 +0000