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Famous singer Rihanna has lost a whopping $36 million from her collaboration with French fashion giant Louis Vuitton after her "Fenty" clothing line failed and closed just two years after its launch.
According to financial documents from her British company, Denim UK Holdings, the 37-year-old had invested nearly 30 million euros, while Louis Vuitton, through the LVMH group, had added another 30 million.
But the Covid-19 pandemic, travel restrictions and high product prices — up to $1,000 for a denim jacket — led to the closure of the luxury brand, writes the Daily Mail.
At the time, the superstar and LVMH announced that they would focus on other more profitable lines, such as "Fenty Beauty" and "Savage X Fenty", which today have made the artist one of the richest women in the world with a fortune of $ 1.4 billion.
"Women are the strength of this earth. Fenty speaks to every side of us," Rihanna declared at the presentation of her first collection in Paris.
Born in Barbados and discovered by Jay-Z in 2003, Rihanna is today one of the most successful artists of all time, with over 250 million records sold and dozens of global hits.
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