February 10, 2021 |
Sad news for Rihanna fans this morning. LVMH has announced that it has come to an agreement with the star to close her Fenty luxury fashion line. As reported by the Business of Fashion, Fenty was the first brand LVMH created from scratch since 1987, when it backed Christian Lacroix. Rihanna was the first Black woman in charge of a Parisian luxury fashion house. Fenty ceases production less than two years since it was founded.
Though not all things are doom and gloom for Bad Gal RiRi. Today, it was also announced the Savage x Fenty lingerie line has completed a $115 million Series B fundraising round to support the brand’s massive growth, led by the Growth Fund of L Catterton. On the back of two highly successful Savage x Fenty shows, the brand is praised for its immensely inclusive casting and size ranges – proving itself to be a lingerie powerhouse.
Photography by Kristin-Lee Moolman for T Magazine.
