WWD reported Wednesday that Rihanna, and LVMH have suspended the Fenty fashion brand, less than two years after its launch.
"Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions," LVMH said in a statement.
Bloomberg confirmed the news and said the COVID-19 pandemic has reduced demand for clothing.
LVMH will now concentrate on Fenty Beauty and Fenty Skin, Rihanna's line of makeup and skin products. In addition, L Catterton, in which LVMH has a stake, led a $115 million Series B funding into Savage X Fenty, Rihanna's lingerie line.
"Following the completion of a fundraising round where L Catterton has taken a stake into Savage X Fenty, LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare and lingerie," LVMH and Rihanna said.
Rihanna launched her Fenty X Puma clothing line in 2016 and announced her partnership with LVMH in May 2019. She is the first woman to create an original brand at LVMH and the first woman of color to head an LVMH maison.
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