Rihanna is poised to be a real power player in fashion. It seems her upcoming brand is about to launch in a big way.
As per Hypebeast Riri is getting some serious support for her upcoming consumer goods brand. Business of Fashion is exclusively reporting that the “Diamonds” singer’s new company will be called Project Loud France. The fashion trade magazine also confirms that she has secured funding to the tune of approximately $68 million which will afford her enough capital for staffing, advertising, raw materials, production and more.
According to the documentation Rihanna will be a 49.99% stake owner in the company; the balance will be split among her partners which includes LVMH (Moët Hennessy Louis Vuitton). Project Loud France is slated to make luxury goods in the menswear, womenswear, kidswear, footwear, eyewear, leather goods and even office supply categories.
In January she was spotted wearing some Fenty branded sunglasses which caused many to speculate on whether she would finally move forward with her rumored fashion initiative.
If successful this will be another highlight for her entrepreneurial resume. Since launching in 2017 Fenty Beauty has grossed over 100 million dollars in sales and has become synonymous as the go to cosmetics line for women of color.
Photo: Daniel Deme/WENN.com
Details Behind Rihanna’s Deal With LVMH Are Unveiled was originally published on hiphopwired.com