October 22, (THEWILL) — Rihanna has reportedly lost more than US$36 million following the shutdown of her luxury fashion label, Fenty.
The multi-award-winning singer launched the high-end clothing brand in 2019 in partnership with Louis Vuitton and its parent company, LVMH.
Rihanna personally invested nearly €30 million (about US$36 million) into the venture, with LVMH contributing a similar amount.
Despite extensive publicity and global media attention — including features in Vogue and other top fashion outlets — the brand struggled to achieve commercial success and was officially closed in 2021. The financial loss was recorded through Denim UK Holdings, the UK-based company that managed Fenty’s operations.
The closure was largely attributed to disruptions caused by the COVID-19 pandemic, which made it difficult for Rihanna to visit production sites in Europe and oversee the brand’s creative and manufacturing processes.
Additionally, Fenty’s steep pricing limited its reach, with items such as a corseted shirtdress priced at around US$810 and a padded denim jacket selling for close to US$1,000.
At the time of the shutdown, Rihanna and LVMH announced plans to focus on their other thriving ventures, including her Fenty Beauty cosmetics line, Fenty Skin, and Savage X Fenty lingerie brand.
Rihanna had previously described Fenty as a celebration of modern womanhood, designed to reflect “the complexity, strength, and beauty of women.”
Despite the setback, the Barbadian star remains one of the world’s wealthiest entertainers. In 2021, Forbes estimated her net worth at US$1.7 billion, making her the richest female musician and the second-richest female entertainer after Oprah Winfrey.
Evi Ben Ezaga writes on entertainment, culture, and trending stories.
