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The pop superstar launched a high-end clothing label, Fenty, in collaboration with Louis Vuitton and its parent company LVMH. Her investment was substantial, with the hugely popular singer investing €29,988,000 (AU$53.5m) of her own fortune in the highly-publicised venture, according to Daily Mail. Despite a huge amount of press, including features in magazines such as Vogue, the venture was shut down in 2021 after failing to take off. According to accounts from the British-registered arm of the business, Denim UK Holdings, through which Rihanna invested, the singer made a loss of about US$36m. Numerous critics at the time suggested the cost of the line would hinder its success, especially considering Rihanna’s other product offerings were aimed at the middle of the market. For example, a padded denim jacket priced at nearly US$1000 and a corsetted shirtdress at about US$810. At the time of its closure, both parties released a statement: “LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of the Fenty ecosystem, focusing on cosmetics, skincare and lingerie.” Rihanna had been bullish about Fenty’s chances of success and believed that numerous items would be “staples” in wardrobes around the world. She said upon its release: “Women are forces of this earth. We are multifaceted, complex, vulnerable yet bulletproof, and Fenty speaks to all of our intricacies. “Some days I want to be submissive, many days I’m completely in charge, and most days I feel like being both … so it was imperative that we created a line versatile enough to embrace and celebrate us in that way. “The collections are easily worn together and meant to be staples in our wardrobe. I’m just hyped to see people in my clothes, man.” Back in 2021, Rihanna had an estimated net worth of $1.7 billion (AU$2.3 billion), and the Diamonds singer was dubbed the “richest female musician” and second to Oprah Winfrey as the “richest female entertainer” by Forbes.
