Meanwhile, L Catterton, in which LVMH has a stake, is investing in Savage X Fenty, Rihanna's lingerie brand.
Music star and French luxury giant agree to halt fashion house Fenty in less than two years after its launch. Suspicions about such a decision arose against the background of the fact that the last post on Instagram of the brand dates back to January 1, and the collections on the official website have not been updated since November 2020. Now LVMH announced this decision officially.
Now the fashion giant plans to focus on the Fenty Beauty and Fenty Skin brands. It also became known that the American-French investment company, founded in 2018, as a result of a collaboration between LVMH and Catterton, will invest in Savage X Fenty lingerie brand. As such, LVMH and Rihanna will focus on the growth and long-term development of the Fenty ecosystem, with a focus on cosmetics, skincare and lingerie.
The reason for the refusal to further develop the fashion house was the coronavirus pandemic, which violated all plans for the development of a still fragile brand. Conservation efforts required too much effort and time, as a result of which it was decided to "prioritize" and focus on more sustainable projects.
They say that such a decision turned out to be sad for Rihanna. Especially since fashion house Fenty has made significant headway in eyewear, footwear and denim, and has also found some popularity in department stores. But the task of creating new collections in a pandemic turned out to be impossible for a young brand.
It is reported that the activities of the brand will be discontinued. Only in the Paris headquarters of Fenty will there be a small staff of employees whose task will be to complete all the operations that have begun. It is possible that in the future the parties will come to the idea of reviving the fashion house in the future. But, in any case, this will happen after the world has finally recovered from the crisis caused by COVID-19.