LVMH Is Reportedly Exploring The Sale Of Its Stake In Rihanna’s Fenty Beauty

LVHM is considering selling its stake in Fenty Beauty.

Fenty Beauty And LVMH’s Involvement

In 2017, Rihanna brought Fenty Beauty to market with Kendo Brands, LVMH’s in-house beauty incubator, according to CNBC. Ownership was split 50/50 between Rihanna and LVMH. Bernard Arnault, chairman and CEO of LVMH, shared rave reviews of the Barbados-born music artist and entrepreneur in 2019.

“Everybody knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader. She naturally finds her full place within LVMH,” Arnault said in a statement, according to CNN.

Fenty Beauty’s Success

Fenty Beauty launched with 40 shades of foundation, which catered to people of all skin tones. Its product offerings, including lip gloss, all-over highlighter, plumping primer, and hair and skincare, continue to be a home run for consumers. In fact, the company made $450 million in net sales last yearand has a valuation that could range between $1 billion and $2 billion, sources told Reuters. Forbes reports that Rihanna is a billionaire as a result of the venture.

A recent feat of Fenty Beauty was being named to Time Magazine’s 2025 Best Inventions Hall of Fame list for its Pro Filt’r Soft Matte Foundation, as

AFROTECH™

previously reported.

Is LVMH Exploring Sale of Its Stake?

Reuters reports that LVMH is considering selling its 50% stake in Fenty Beauty, according to several sources aware of the matter. LVMH is reportedly working with Evercore, an investment bank, on the sale.

At the time of this writing, neither LVMH nor Fenty Beauty has responded for comment.

CNN reports that LVHM’s work with Rihanna also carried over into a luxury fashion line in 2019 called “Fenty Fashion House,” which was sunsetted after two years at time when many fashion brands were negatively impacted by the COVID-19 pandemic. At its launch, Rihanna spoke highly of her partnership with LVMH.

“I couldn’t imagine a better partner both creatively and business-wise,” Rihanna said, according to CNN.

The post LVMH Is Reportedly Exploring The Sale Of Its Stake In Rihanna’s Fenty Beauty appeared first on AfroTech.

The post LVMH Is Reportedly Exploring The Sale Of Its Stake In Rihanna’s Fenty Beauty appeared first on AfroTech.

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