How Rihanna lost $36m on a failed Louis Vuitton fashion deal

Pop superstar and billionaire entrepreneur, Rihanna, has reportedly lost a staggering $36 million following the collapse of her luxury fashion line, Fenty, launched in partnership with French fashion giant Louis Vuitton (LVMH).

According to new filings from her British company, Denim UK Holdings, the singer’s high-end fashion venture suffered heavy financial losses before shutting down in 2021.

Rihanna, 37, unveiled Fenty in 2019 as part of a historic collaboration with LVMH, making her the first Black woman to lead a brand under the luxury group. However, the project struggled to stay afloat, largely due to COVID-19 travel restrictions that prevented the singer from overseeing production in Paris and Italy.

Reports show that Rihanna invested €29.9 million (about $34.8 million) through Denim UK Holdings, while LVMH matched her contribution with a similar amount. The French-based company operated under the trade name Project Loud France, a nod to her fifth studio album Loud.

Despite its star power and initial buzz, the brand failed to resonate with consumers. Items such as a padded denim jacket priced at nearly $1,000 and an $810 corseted shirtdress were seen as too expensive, especially when compared to her more accessible brands, Fenty Beauty and Savage X Fenty.

In 2021, Rihanna and LVMH jointly agreed to close the fashion label and focus on her booming cosmetics and lingerie lines. In a statement, both parties said:

“LVMH and Rihanna reaffirm their ambition to concentrate on the growth and long-term development of the Fenty ecosystem, focusing on cosmetics, skincare, and lingerie.”