Rihanna loses $36 million from the failed Louis Vuitton fashion project

Rihanna lost about $36 million in her co-operation with French fashion giant Louis Vuitton on the Fenty project, a line of clothing that was launched in 2019 but closed just two years later.

According to the financial documents of her British company, Denim UK HoldingsThe loss came as a result of closing the clothing line FentyWhich failed to meet commercial expectations. Especially did the pandemic hit the project, which limited travel and directly affected the singer's creative process, which was personally involved as designers.

At the beginning of the project, Rihanna had invested nearly $35 million, while Louis Vuitton's mother company, LVMH, had thrown a similar sum. Both sides held 49.99% and 50.01% shares, respectively, through a company called Project Loud FranceA reference to her fifth album, Loud.

However, high prices, such as jackets costing up to 1,000 dollars, and the market's lack of interest led to the decision to cut off the line in 2021.

Rihanna and LVMH then announced they would focus on developing more lucrative lines like Fenty Beauty, Fenty skin i n Savage X Fenty.

Despite the loss, Rihanna remains one of the richest women in the entertainment industry, with an asset estimated at $1.4 billion./Periscopi/