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Rihanna has invested S$46 million into joint venture with LVMH

The brand, currently titled Project Loud, has no release date as yet.

Rihanna has invested S$46 million into joint venture with LVMH

Rihanna attends the Fenty Beauty by Rihanna event at Sephora on September 14, 2018 in Brooklyn, New York. (Photo: AFP/Angela Weiss)

After more than a month, rumours of a collaboration between Rihanna and luxury goods conglomerate LVMH have finally been confirmed.

The holding company of Rihanna’s LVMH luxury fashion house is called Project Loud, according to accounting papers obtained by The Business of Fashion. While the name is subject the change, the current moniker references Rihanna’s fifth studio album, 2010’s Loud.

“I feel like it was a really fun, expressive album, and ‘loud’ was the perfect word to symbolise that,” said Rihanna to Interview magazine back in 2010. “It’s aggressive at times, but in a really fun way — just the overall energy of it. Even the energy when we were making the album was really expressive and rebellious but fun. We had fun the whole time. And you hear it when you listen to the songs. They feel really good.”

W Magazine has speculated that Project Loud will span womenswear, menswear, kids clothing, footwear, leather goods, sportswear, and eyewear. Talent has been pulled in from houses such as Celine and Louis Vuitton, while Jean Baptiste Voisin, LVMH’s chief strategy officer, is the new brand’s president, reported High Snobiety.

According to transaction documents obtained by The Business of Fashion from French accounting firm Ledouble, Rihanna has invested €29,988,000 (S$46.01 million) in the venture via Project Loud LLC, one of the two holding companies that own the brand, the other being LVMH’s Project Loud Paris. LVMH has invested €30 million (S$46.04 million), making it the majority owner by 0.02 percent.

The brand does not have a release date as yet.

Rihanna previously worked with Moet Hennessy Louis Vuitton to launch her inclusive beauty label Fenty Beauty in September 2017 under Kendo, LVMH’s beauty incubator. According to Bernard Arnault, chairman and chief executive officer of LVMH, Fenty Beauty's sales reached almost €500 million (S$767.27 million) by the end of 2018.

Source: CNA/gl