Rihanna confirms she is launching her own fashion brand named Fenty with luxury group LVMH as her $260million fortune continues to soar
As of 2019, her net worth is estimated to be $260 million, making her one of the richest singers in the world.
And now, Rihanna, 31, is poised to increase her fortune as she makes the move into fashion, joining forces with luxury group LVMH to launch 'Fenty', her own brand of clothes, shoes and accessories, which is set to drop any day now.
Taking to Instagram on Friday, the pop star announced the news to her 70.5 million followers with a series of posts.
Next venture: Rihanna, 31, is joining forces with luxury group LVMH to launch 'Fenty', her own brand of clothes, shoes and accessories, which is set to drop any day now
In the first, Rihanna shared a screenshot of an tweet from the style section of The New York Times explaining that she 'will become the first woman to create an original brand at LVMH.'
The tweet continued, confirming that the star will be 'the first woman of color at the top of an LVMH maison, and her line will be the first new house created by the group since Christian Lacroix in 1987.'
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Alongside the screengrab, Rihanna wrote: 'Big day for the culture. thank you Mr.Arnault for believing in this little girl from the left side of an island, and for giving me the opportunity to grow with you at.
'This is proof that nothing is impossible. Glory be to God.'
Entrepreneur: As of 2019, her net worth is estimated to be $260 million, making her one of the richest singers in the world as is poised to increase her fortune with her latest venture
Big announcement: Taking to Instagram on Friday, the pop star announced the news to her 70.5 million followers with a series of posts
The logo: The second post from Rihanna was simply the fashion brand's logo: Sharp white writing on a bright blue background, with a link to its Instagram account
The second post from the star was simply the brand's logo: White writing on a bright blue background.
The caption simply linked to the Instagram account for the fashion label, which has already racked up over 40,000 followers despite not having posted anything.
The label will be called Fenty, after the singer's full name, Robyn Rihanna Fenty and LVMH said its launch was 'fast approaching' and due to land in spring 2019.
According to a statement given to WWD, the fashion line will be 'centred on Rihanna, developed by her, and takes shape with her vision in terms of ready-to-wear, shoes and accessories, including commerciality and communication of the brand.'
In a general-release statement, Bernard Arnault said: '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.
Grateful: Rihanna shared her thanks for the support she has received from LVMH owner Bernard Arnault (Pictured together in PAris in 2015 with Jane D. Harley (L) and Bernard's wife Helene Arnault (R))
A true leader: In a statement, Bernard Arnault said: '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'
Any day now: The label will be called Fenty, after the singer's full name, Robyn Rihanna Fenty and LVMH said its launch was 'fast approaching' and due to land in spring 2019
'She naturally finds her full place within LVMH. To support Rihanna to start up the Fenty Maison, we have built a talented and multicultural team supported by the Group resources.
I am proud that LVMH is leading this venture and wish it will be a great success.'
Rihanna added: 'Designing a line like this with LVMH is an incredibly special moment for us. Mr. Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits.
'I couldn’t imagine a better partner both creatively and business-wise, and I’m ready for the world to see what we have built together.'
No limits: Rihanna added: 'Mr. Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits' (Pictured together in 2018 with Louis Vuitton's executive vice president Delphine Arnault)
Successful partnership: The pop star's foray into the fashion world with LVMH, follows on from their hugely successful partnership for the creation of Fenty Beauty in 2017
The pop star's foray into the fashion world with the French luxury goods group, follows on from their hugely successful partnership for the creation of Fenty Beauty in 2017.
LVMH themselves confirmed on Friday that it was launching the new fashion brand with the Barbadian singer, building on their previous joint venture in cosmetics.
It marks a rare move by the acquisitive Paris-based group to set up a new brand from scratch.
LVMH is, of course, the parent company run by billionaire Bernard Arnault that owns Louis Vuitton, and as the world's biggest luxury player, LVMH boasts a roster of 70 brands, including Moet & Chandon champagne.
Money maker: Although the Umbrella hitmaker is best known for her smash hit singles and distinctive vocals which have earned her a tidy sum, her estimated $260 million (according to Celebrity Net Worth ) has been accumulated through a varied mix of entrepreneurial activities
Entrepreneur: Her makeup brand Fenty Beauty flies off the shelves of Sephora, while her Savage x Fenty lingerie brand became an instant hit thanks to it's size-inclusive approach
Although the Umbrella hitmaker is best known for her smash hit singles and distinctive vocals which have earned her a tidy sum, her estimated $260 million (according to Celebrity Net Worth) has been accumulated through a varied mix of entrepreneurial activities.
Her makeup brand Fenty Beauty flies off the shelves of Sephora, while her Savage x Fenty lingerie brand became an instant hit thanks to it's size-inclusive approach, embracing a woman's curves.
In her runway show during New York Fashion Week, Rihanna included models of all shapes, sizes, and ethnic backgrounds, including two pregnant models.
Endorsement deals: The music icon has also earned serious amounts for endorsement deals and collaborations with companies such as CoverGirl, Puma Gucci, and Clinique
On top of the world! Rihanna is continuing to make big moves in the worlds of music, film, beauty, lingerie and now fashion
The music icon has also earned serious amounts for endorsement deals and collaborations with companies such as CoverGirl, Puma Gucci, and Clinique.
In addition to her product lines and endorsements, Rihanna earned mega-bucks for her starring roles in films like Ocean's 8 and Guava Island.
And though she hasn't been on tour since 2016, the singer will no doubt have raked in royalty fees for her chart-topping songs, such as Rude Boy, Diamonds and Work - to name but a few.
As well as earning top dollar, Rihanna makes sure to give back through various charity projects including establishing The Believe Foundation, which benefits terminally ill children around the globe.
