Rihanna and luxury brand conglomerate LVMH have announced the suspension of Fenty's ready-to-wear fashion line.
“Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions,” reads a joint statement obtained by Bloomberg.
LVMH will continue to back the cosmetic and lingerie lines of Fenty. A $115 million round of funding was announced on Wednesday by private equity fund L Catterton; the sum will assist in Fenty's transition to retail, according to a statement.
Fenty's collaboration with LVMH was announced in 2019. LVMH is home to such esteemed brans as Louis Vuitton, Givenchy, and Dior.