Barbadian billionaire and global music icon Rihanna has reportedly lost a whopping $36 million (£27 million) following the collapse of her luxury fashion venture with Louis Vuitton.
According to newly released accounts for her British company, Denim UK Holdings, the 37-year-old singer suffered the huge financial loss after her high-end clothing line, Fenty, shut down in 2021.
Rihanna launched the Fenty fashion house in 2019 under LVMH (Louis Vuitton Moët Hennessy) — marking the first time the French luxury group partnered with a Black woman to create a new label. However, the brand struggled to sustain momentum and eventually folded during the COVID-19 pandemic.
Reports at the time revealed that travel restrictions hindered Rihanna’s direct involvement in the design process, as she was unable to visit ateliers in Paris or the Italian factories producing the collection.
When the joint venture began, financial filings showed that Rihanna had invested €29.98 million ($34.86 million) through Denim UK Holdings, while LVMH contributed €30 million ($34.88 million) to the project.
The French-based company behind the fashion label operated under the trade name Project Loud France, a creative nod to Rihanna’s fifth studio album, Loud.
Despite the setback, Rihanna — whose net worth stands at an estimated $1.4 billion — remains one of the world’s most successful entertainers and entrepreneurs, thanks to her thriving Fenty Beauty and Savage X Fenty brands.
Her loss in the fashion arm of Fenty serves as a reminder that even global superstars face risks in the luxury business world.
