According to LVMH, Rihanna's FENTY Is a "Work in Progress"
Fueling speculation that the clothing brand is underperforming.
According to a report by WWD, LVMH, the luxury conglomerate that backs FENTY, hasn’t shared much about the status of the brand. Former Nike executive Bastien Renard joined FENTY as managing director in September. LVMH’s Chief Financial Officer Jean-Jacques Guiony told analysts that the brand, which launched in 2019, is still fine-tuning operations:
“On FENTY fashion, we are obviously still in a launching phase and we have to figure out exactly what is the right offer. It’s not something that is easy. We were starting entirely from scratch…Obviously, we have the great help from Rihanna on this, but I would say it’s still a work in progress when it comes to really defining what the offer will be.”
Notably, FENTY is the first fashion brand LVMH has launched from the ground up since Christian Lacroix Couture in 1987.