Rihanna's Fenty fashion line with French luxury group LVMH is being put "on hold," the singer and fashion house announced in a joint statement on Wednesday.
"Rihanna and LVMH have jointly made the decision to put on hold the RTW [Ready To Wear] activity, based in Europe, pending better conditions," a spokesperson told BuzzFeed News.
Rihanna will instead focus her business on her more successful cosmetics, skincare, and lingerie lines.
"Following the completion of a fundraising round where [private equity company] L Catterton has taken a stake into Savage X Fenty, LVMH and Rihanna reaffirm their ambition to concentrate on the growth and the long-term development of Fenty ecosystem focusing on cosmetics, skincare, and lingerie," they added.
Like other sectors, the fashion world has been roiled by the coronavirus pandemic, which prompted consumers to reconsider spending, especially in the luxury retail market.
People were not surprised but still saddened to hear reports that Rihanna would no longer be investing in Fenty clothing.
Very sad but not surprised about the closure of the LVMH/Fenty Fashion house. Rihanna may be a ready to wear girl but her fans are largely the Zara set. Total miss in scale. There was a mid-market that was sorely overlooked. https://t.co/Y71tYlwdaP
However, people also noted how symbolic the singer's venture was to both Black-owned businesses and celebrity-fronted enterprises.
letβs not get it twisted now, the *first* house created and both helmed by a black woman, thats not just something you do away with completely.
And most importantly, as we wait to see if Rihanna will revive the Fenty maison in the future, we would like to know when and where they're discounting and clearing inventory.
Okay, so when is the Fenty sale. I would like some glasses.