Rihannas fashion house
The new brand is called Fenty — produced under the umbrella of the famed luxury goods conglomerate LVMH — and its first collection of ready-to-wear, shoes, accessories, and jewelry will be shown in Paris later this month, Business of Fashion reports. In a statement, Rihanna said that LVMH chief executive Bernard Arnault has placed “no artistic limits” on the line.
When rumors of the partnership kicked up earlier this year, Vox’s Nadra Nittle explained the significance of the possibility, writing, “Rihanna stands to become the first black woman designer at LVMH. From Kanye West to Jessica Simpson — fashion is rife with rappers, singers, actors, and reality stars with their own lines at department stores and the like. But having a luxury fashion house in one’s honor has been off limits to most celebrities.” This is also the first new fashion brand LVMH has launched since 1987, when Christian Lacroix founded his haute couture house.
According to the Business of Fashion, Rihanna will be a 49.99 percent shareholder in the new label. LVMH has put up over $30 million in cash to fund the venture, while her contribution will be her time, her name, and the value of her personal brand. In other words: The basic idea and general presence of Rihanna is worth more than $30 million.