Bernard Arnault, chairman and chief executive of Louis Vuitton Moët Hennessy (LVMH), loves Rihanna as much as the rest of us. He loves her ability to bring in boatloads of money even more.
As reported by Business of Fashion:
During his presentation to more than 2,000 shareholders, the executive underscored the company’s continued commitment to creating a desirable product that offers consumers “meaning” and “a reason to buy.” In 2018, the company posted record results, generating global sales of €46 billion euros, with Rihanna’s Fenty Beauty line generating nearly €500 million in revenue and Louis Vuitton posting more than €10 billion.
Still, Arnault wants to keep us in suspense regarding the upcoming launch of Rihanna’s standalone apparel brand, dubbed Project Loud France. LVMH is rumored to hold a 51 percent stake.
“I appreciate your interest in Rihanna. I am [interested] too, she’s an extraordinary singer,” he said. “But we like surprises…. As it’s a surprise, I will not tell you more.”
Admitting a “surprise” is a confirmation, right?
Back in January the internet started buzzing with news of a Fenty apparel or accessories line when Rih was spotted by paparazzi wearing sunglasses with the Fenty brand name across the temples. Sources told WWD the sunglasses were a “prototype”:
LVMH’s rumored new venture with Rihanna seems more likely than ever, but regardless Rihanna is continuing her reign with stunning May covers for Vogue Australia, and Harper’s Bazaar US.