American Entertainment News: Rihanna Allegedly Faces $36 Million Setback Following Unsuccessful Louis Vuitton Fashion Collaboration
In a surprising development, Rihanna has reportedly encountered a monetary blow amounting to approximately $36 million (£27 million), stemming from the downfall of her upscale fashion collaboration with Louis Vuitton, based on documents filed by her UK-registered business entity, Denim UK Holdings
The 37-year-old music icon introduced her luxury clothing brand, Fenty, in 2019 in partnership with French fashion powerhouse LVMH (Louis Vuitton Moët Hennessy).
Despite high expectations, the brand faced challenges and eventually ceased operations in 2021, primarily due to disruptions caused by the COVID-19 crisis.
According to sources from that time, global lockdown measures and restricted international travel hampered Rihanna’s ability to personally oversee the production process in Paris ateliers and with Italian manufacturers vital to the brand’s output.
At the launch of the fashion house, Rihanna is said to have poured in €29.9 million (roughly $34.8 million), with LVMH contributing €30 million ($34.9 million) into the joint endeavor. The company, headquartered in France, operated under the name Project Loud France — a subtle nod to Rihanna’s fifth studio album, Loud.
Despite the reported loss, Rihanna, whose net worth is estimated at $1.4 billion, still holds close to a 50% stake in the joint venture through her company, Denim UK Holdings.
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