Rihanna, $36 million loss from Fenty clothing line flop
According to the Daily Mail, which cites the accounts of Denim UK Holdings, the singer had invested the money and became a 49.9 per cent shareholder
by Lorenzo Pace
A b>brand of clothing that lasted only two years, but cost a whopping 36 million dollars. That's the amount lost by the American pop star Rihanna with her Fenty clothing line, launched in 2019 in collaboration with Louis Vuitton, but closed in 2021 due to the pandemic.
This is stated by the Daily Mail, which cites the accounts of the British Denim UK Holdings. It was through this company that the singer had invested the money and had become a 49.9% shareholder. The other investment, of 34.88 million dollars, had come from Lvmh (owner of Louis Vuitton).
After the pandemic came the joint statement on the closure of the clothing line: 'Lvmh and Rihanna reaffirm their ambition to focus on the long-term growth and development of the Fenty ecosystem, focusing on cosmetics, skincare and lingerie.
The garments, in fact, 'were expensive and had failed to generate the same interest as the rest'. These were pieces, both jackets and shirt dresses, costing just under a thousand dollars.
The Daily Mail also highlights the success of the other departments on sale. The Fenty Beaty brand has enabled her to become the youngest self-made billionaire in the United States, as emerged from Forbes's 2022 ranking.
