Rihanna is now in the midst of making fashion history. The superstar is set to team up with LVMH as the company’s first black female designer, and a new brand under the singer’s last name, Fenty, is in the works. Rihanna is expected to run the fashion brand under her name at the world’s largest luxury conglomerate. Christian Dior, Louis Vuitton, and Givenchy all fall under the umbrella of LVMH. The multinational conglomerate is worth over €42 billion, making it the world’s largest.
The move has been a long time coming, as Rihanna has previously collaborated with the company for her popular makeup brand, Fenty Beauty. Fenty Beauty, alongside Rihanna’s Puma collection and Savage X Fenty, have all been major successes. The superstar has also been seen wearing sunglasses carrying the Fenty logo, causing speculation that the glasses are a part of her new deal with LVMH.
The eCommerce fashion industry alone is currently worth more than the massive sum of $481 billion, according to 2018 data compiled by Shopify. The industry’s outlook is nothing short of spectacular, and is expected to rise sharply in the next few years. The broader global fashion industry is worth over $3 trillion, approximately 2% of the world’s GDP.
