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‘Flopped’: Rihanna Loses $62m After High-End Fenty Brand Shuts Down
Rihanna's $36 million loss stems from shutting her luxury fashion label due to pandemic challenges and a shift toward her cosmetics and lingerie brands.
- Accounts from Denim/UK/Holdings show Rihanna, singer and entrepreneur, suffered a loss of about $36 million tied to her luxury-fashion venture with LVMH.
- Closure was attributed to a strategic refocus on cosmetics and lingerie, with pandemic travel restrictions limiting Rihanna's hands-on access to the atelier and Italian fashion houses.
- Documentation records show Rihanna invested 29,988,000 and LVMH about 30 million, with $34.86 million and $34.88 million contributions, according to Denim/UK/Holdings.
- The loss represents a rare setback for Rihanna, who built a billion-dollar empire with Fenty Beauty and Savage X Fenty, while the Daily Mail said the Project Loud France effort `flopped`.
- The label's ultra-premium pricing included items priced nearly $1,000, and Fenty was intended to expand the ecosystem into clothing, shoes and accessories under Robyn Rihanna Fenty.
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While her fans are eagerly waiting for new music, Rihanna prefers to celebrate successes with her beauty brand Fenty. However, her fashion offshoot gives the singer a big minus on the bank statement.
Rihanna has lost a whopping $36 million from a failed fashion project with Louis Vuitton, according to financial documents from her British company, Denim UK Holdings. The American singer, 37, launched her Fenty clothing line in 2019, in collaboration with the French luxury brand, but the project failed and was shut down in 2021 due to the pandemic. Due to travel restrictions during the Covid period, Rihanna – who was directly involved as a desi…
Coverage Details
Total News Sources20
Leaning Left1Leaning Right3Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 17%
C 33%
R 50%
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