Rihanna’s $34.8 million fashion loss highlights the high cost of luxury bets
Rihanna lost $34.8 million from her Fenty fashion line with LVMH, which also lost $34.9 million before shutting down the label.
LVMH
Bernard Arnault’s LVMH sets sights on South African billionaire Johann Rupert’s Richemont
Richemont ranks as the fourth-largest luxury company globally.
African-American billionaire Shawn ‘Jay-Z’ Carter gains over $300 million since LVMH deal in 2021
Jay Z’s assets include Roc Nation, stakes in Armand de Brignac and D’Usse cognac, and a fine art collection.