Louis Vuitton owner LVMH will temporarily close Rihanna’s luxury fashion venture Fenty
LVMH, the owner of luxury brands Louis Vuitton and Christian Dior, has suspended collaboration with R singer Rihanna on her Fenty cheap replica handbags ready to wear fashion line, Women Wear Daily reported on Wednesday.
LVMH did not immediately respond to Insider request for comment.
Rihanna fashion venture, which was launched in 2019 in Europe, will be “put on hold” pending better conditions, the French luxury good conglomerate said in a statement, according to WWD and Reuters. Women Wear Daily was the first to report the news.
LVMH and Rihanna will concentrate on the long term development of the Fenty business with a focus on skincare, cosmetics, and lingerie, the publications said.
The LVMH backed investment fund L Catterton has taken a stake in Rihanna lingerie line, Savage X Fenty high quality designer replica handbags wholesale , WWD reported.
In December, Savage X Fenty was reportedly seeking to raise $100 million in funding to expand in Europe and launch a new line of athletic wear. The company appointed Goldman Sachs to raise the new round of funding which could give Savage X Fenty a valuation of $1 billion, according to The New York Times DealBook newsletter.
Fenty was the first fashion venture that LVMH created from the ground up since Christian Lacroix brand launched in 1987. It was established to develop the singer joint cosmetic venture with the French group with clothing, accessories, and shoes.
Rihanna launched cosmetics brand Fenty Beauty in 2017 and reportedly competed with other makeup brands such as Kylie Cosmetics. Fenty Beauty sales were five times Kylie Cosmetics in its first month of operation in September and 34% higher the following month.
LVMH was financially impacted by the pandemic and store closures. In October it reported a revenue of $37 billion, down 21% compared to the same period a year before. replica designer handbags The luxury conglomerate had a revenue reaching about $59 billion in 2019.
In a press statement, the company said it was showing “significant improvement” in its third quarter. Its fashion and leather goods division, for which organic revenue declined by 11% over the first nine months of the year, saw cheap louis vuitton bags from china uk a double digit rebound of 12% growth in the third quarter.
Read the original article on Business InsiderNicola Sturgeon facing calls to resign as witnesses back Alex Salmond evidence on key meetings
Nicola Sturgeon is facing calls to resign after two witnesses in the Alex Salmond scandal corroborated his version of key events and provided damning evidence she repeatedly misled parliament. In a potentially devastating development for the First Minister, ahead of her appearance before a Holyrood inquiry on Wednesday morning, a pair of former special high quality designer replica handbags wholesale advisers contradicted her claims about two meetings in 2018. Ms Sturgeon has told parliament she only found out about the allegations when Mr Salmond visited her home on April 2, 2018 and but she refused to intervene. Last week she denied during First Minister Questions the identity of one of the women was shared with Geoff Aberdein, Mr Salmond chief of staff, “to the best of my knowledge”. But Duncan Hamilton, a former SNP MP and junior counsel, said the name of a complainant was given to Mr Aberdein by a senior official shortly after Mr Salmond was informed of the government investigation into sexual misconduct claims on March 7, 2018. In a letter to the inquiry, he said “fact that fake designer bags the government official had shared that information with Mr Aberdein was reported to me, and to Kevin Pringle, on a conference call.” He was present at the meeting between Mr Salmond and Ms Sturgeon at her home on April 2 and confirmed she “did offer to assist” him with her government investigation only to change her mind. Ms Sturgeon has told parliament she refused to get involved but Mr Hamilton cheap replica handbags , said: “We discussed mediation. My clear replica louis vuitton handbags recollection is that her words were it comes to it, I will intervene He contradicted Ms Sturgeon claim about when she found out about the allegations, stating that when Mr Salmond and his team arrived at her home, “everyone in the room knew exactly why we were there.”People without vaccinations should be banned from travelling in holiday jets, says public
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