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LVMH is exploring the sale of its 50% stake in Rihanna's Fenty Beauty, valued by JPMorgan at up to $2.5 billion, as the luxury group resets its portfolio amid falling demand.
Luxury stocks from Richemont to LVMH tumbled Monday after U.S.-Israel strikes on Iran shut stores and triggered a sell-off across global markets.
Rihanna lost $34.8 million from her Fenty fashion line with LVMH, which also lost $34.9 million before shutting down the label.
Richemont ranks as the fourth-largest luxury company globally.
Jay Z’s assets include Roc Nation, stakes in Armand de Brignac and D’Usse cognac, and a fine art collection.