Rihanna lost a staggering $36 million from a failed fashion venture with Louis Vuittonaccording to the financial data of its British company Denim UK Holdings. The 37-year-old American singer launched her Fenty clothing line in 2019 in collaboration with the luxury French brand, but the line failed and was closed in 2021 due to the pandemic.

Due to travel restrictions during the pandemic, the artist was unable to visit the atelier in Paris, nor tour the factories that make the products, according to reports at the time. When she started the business, it was revealed that Rihanna had invested €29,988,000, while Louis Vuitton’s parent company, LVMH, had invested €30 million.

The French company had the trade name Project Loud Francein reference to Rihanna’s fifth album, ‘Loud’. Rihanna, who has an estimated net fortune of $1.4 billioninvested the money through Denim UK Holdings and became a 49.99% shareholder.

In 2021, Rihanna and LVMH jointly decided to close the fashion business to focus on cosmetics and underwear. A joint statement issued at the time stated: “LVMH and Rihanna confirm their intention to focus on the growth and long-term evolution of Fenty, with a focus on cosmetics, skin care and underwear”.

Rihanna

Fenty aimed to capitalize on the singer’s cosmetics joint venture with LVMH, with a full range of clothing, shoes and accessories. However, the line was expensive — nearly $1,000 for a denim-lined jacket and $810 for a corseted shirt dress — and failed to attract the same interest as her other lines.