In a surprising move, Rihanna’s venture into the fashion world has come to an abrupt end. According to WWD, the American singer’s luxury label under LVMH will close down effective immediately.
The news comes after the release of the label’s last collection in November, which included a collaboration with Jordanian-Romanian shoe designer Amina Muaddi.
“Rihanna and LVMH have jointly made the decision to put on hold the RTW activity, based in Europe, pending better conditions,” LVMH told WWD in a statement.
The move comes after private equity giant L Catterton took a major stake into Savage x Fenty.
“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 told the outlet.
The label’s launch, which happened in 2018, marked a historic moment for LVMH and Rihanna being LVMH’s first fashion venture from scratch after Christian Lacroix in 1987.