Rihanna’s $34.8 million fashion loss highlights the high cost of luxury bets

Just as French luxury powerhouse LVMH weighs the sale of its 50 percent stake in Fenty Beauty, a new report has shed light on Rihanna’s costly misstep in fashion.

Rihanna’s fashion dream costs her $36 million

The singer and beauty mogul reportedly lost $34.8 million from her failed fashion venture with Louis Vuitton, underscoring the risks that even global stars face when branching into high-end apparel.

According to the Daily Mail, filings for her British company, Denim UK Holdings, show that Rihanna’s Fenty fashion label—launched in 2019 with LVMH—closed just two years later after struggling through the pandemic.

Travel restrictions during COVID-19 made it difficult for her to visit ateliers in Paris or oversee production in Italy, leaving the brand without the direct involvement that helped drive her earlier successes.

Inside Rihanna–LVMH’s $69.76 million Fenty fashion exit

When Fenty launched, Rihanna invested roughly €29.99 million ($34.86 million) through Denim UK Holdings, while LVMH contributed about €30 million ($34.9 million), making them nearly equal partners.

The project aimed to build on the momentum of Fenty Beauty, their hit cosmetics venture, by offering a full luxury fashion line—clothing, shoes and accessories. But by 2021, both parties agreed to wind down the label and focus on growing her beauty and lingerie businesses.

At the time, they released a joint statement reaffirming their commitment to expand the “Fenty ecosystem,” focusing on cosmetics, skincare and lingerie. That focus has since paid off, though challenges remain.

LVMH considers sale of Fenty stake

Fenty Beauty, which Rihanna and LVMH started together in 2017, is still popular because of its wide choice of shades and global reach.

But even well-known firms are feeling the pressure as consumer spending slows down and celebrity brands come under more scrutiny.

Rihanna’s net worth, pegged at $1.7 billion in May 2022, has declined to $1 billion. This decline reflects slower growth in the luxury beauty sector. She also risks losing her billionaire status.

Meanwhile, LVMH is reportedly working with investment bank Evercore to explore a sale of its Fenty Beauty stake, a move that could value the brand at up to $2 billion.

Rihanna expands Fenty brand with haircare, China push

Despite these headwinds she continues to expand her business empire. Last year she launched Fenty Hair tapping into a market expected to reach $107.5 billion by 2027.

In the same 2024, Fenty Beauty entered China through Sephora outlets in Hong Kong and Macau following launches in India and Africa.