Business failure, Rihanna loses $ 36 million
Rihanna, one of the most powerful artists in the world of music and business, recently had a loss of $ 36 million from her luxury clothing line “Fenty Maison”, according to new financial reports from her British company Denim UK Holdings.
This brand, created in 2019 in collaboration with LVMH and closed in early 2021 due to low sales and the impact of the pandemic.
Fenty Maison was considered a high-priced brand, just a corset dress cost about $ 810, and according to fans these prices were not right. High prices and logistical difficulties during COVID-19 caused the failure of the project, which had prevented Rihanna from closely supervising the atelier in Paris and production in Italy.
However, Rihanna remains a successful billionaire thanks to her Fenty Beauty and Savage X Fenty brands, which continue to make huge profits. The loss of Fenty Maison is seen as a business lesson that has helped her focus on brands that bring her lasting success.