Rihanna reportedly lost a whopping amount of money after her collaboration with a luxury fashion brand failed. A report claimed that the 37-year-old launched her clothing line in 2019 in partnership with Louis Vuitton, but the business flopped. Therefore, the pop sensation lost nearly $36 million and eventually closed down the venture. It has been reported that the loss has impacted her net worth.
Rihanna has reportedly lost a chunk of her money due to failed collab with Louis Vuitton
Rihanna allegedly lost a huge amount of money due to a business failure. According to Daily Mail, she collaborated with the luxury fashion brand, Louis Vuitton, in 2019. She launched a fashion line, Fenty, followed by cosmetics and lingerie ventures, Fenty Beauty and Savage X Fenty, respectively.
Just a year after the launch, COVID-19 hit the world. Due to lockdown and travel restrictions, the business couldn’t survive. The entrepreneur couldn’t check her collections in Paris or keep an eye on the making of the clothes at the Italian fashion houses.
Moreover, the outlet mentioned that Rihanna, who has an estimated net worth of $1billion, invested around $34.86 million through Denim UK Holdings in the partnership.
While she was a 49.99 percent partner shareholder, Louis Vuitton’s parent company, LVMH, invested $34.88 million. At the time, all big magazines, including Vogue, covered the “Unapologetic” hitmaker’s clothing line. Despite the hype, the business closed down in 2021. Reportedly, the products were expensive.
While the fashion line flopped, Rihanna put her focus on Fenty Beauty and Savage X Fenty. A joint statement read, “LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of the Fenty ecosystem, focusing on cosmetics, skincare, and lingerie.”
Meanwhile, the Grammy winner has been busy with motherhood. Last month, she introduced her one-month-old baby girl, Rocki Irish, to her fans. The newborn is her third child, as she has two sons, RZA Athelston Mayers and Riot Rose Mayers, with A$AP Rocky.
