Rihanna has lost a staggering $36million (£27M) from a failed fashion venture with Louis Vuitton, according to accounts for her British company Denim UK Holdings
The American singer, 37, launched her clothing range Fenty in 2019 in collaboration with the luxury French brand, but it flopped and closed down in 2021 due to the pandemic.
Due to travelling restrictions during Covid, hands-on designer Rihanna couldn’t see the atelier in Paris or get to the Italian fashion houses making the products, stated reports at the time.
When she launched the venture, it was revealed that Rihanna had ploughed in €29,988,000 ($34.86M) while Louis Vuitton’s parent company LVMH put in €30million ($34.88M).
The French-based business had the trade name of Project Loud France, in a nod to Rihanna’s fifth album, Loud.
Rihanna – who has an estimated net worth of $1.4billion – invested the money through Denim UK Holdings and became a 49.99 per cent partner shareholder.
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 from a failed fashion venture with Louis Vuitton, according to accounts for her British company Denim UK Holdings){kind=link}
Sorry Riri