Rihanna Is The First Woman To Create A New Brand With Luxury Group That Owns Louis Vuitton
French luxury goods group LVMH said on Friday it was launching a new brand with Rihanna, building on a previous joint venture in cosmetics with the "Umbrella" hitmaker to branch out into clothing, shoes and accessories.
The Maison -- which joins a roster of 70 brands at the world's biggest luxury player, including Louis Vuitton and Moet & Chandon champagne -- will be called Fenty after the singer's full name, Robyn Rihanna Fenty.
LVMH said the launch was "fast approaching" and due to land in spring 2019.
It marks a rare move by the acquisitive Paris-based group to set up a new brand from scratch, and follows the creation of Fenty Beauty with Rihanna in 2017, which rapidly became a sales hit.
“Designing a line like this with LVMH is an incredibly special opportunity to develop a fashion house in the luxury sector,” Rihanna said.
“I couldn’t imagine a better partner both creatively and business-wise, and I’m ready for the world to see what we have built together.”
“Everybody knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader,” LVMH CEO Bernard Arnault said in a statement.
“She naturally finds her full place within LVMH.”
Bernard said the team is dedicating its resources to ensure the project is ready for release.
“To support Rihanna to start up the Fenty Maison, we have built a talented and multicultural team supported by the Group resources,” he said. “I am proud that LVMH is leading this venture and wish it will be a great success.”
Rihanna's net worth is an estimated $260 million, according to reports. She's made profits from a variety of industries including music, fashion and beauty.
Her Fenty Beauty makeup line brought in $100 million in sales within the first 40 days of its launch, according to VOGUE.