Rihanna’s LVMH Venture Finally Has a Name
And it's a nod to one of her albums.
Earlier this year, it was announced that LVMH, the parent company that owns Louis Vuitton, would be launching a new brand—something they haven’t done since 1987. Even more exciting though, was the news that this brand would be led by none other than Bad Gal Riri, who although not a designer by training has seen massive success in retail with Savage x Fenty and Fenty Beauty. (Fenty Beauty was first launched by Kendo, an LVMH beauty incubator, and reportedly made $100m in just the first 40 days of its launch.) Making the news that much sweeter is the fact that this will make Rihanna the first black woman to head a fashion brand at LVMH.
That’s all the news we had for a while, until yesterday when we learned that the venture is called Project Loud France, a nod to the award-winning singer’s 2010 album, Loud. The Business of Fashion reports that, “According to newly obtained filings by French accounting firm Ledouble signed 7 December 2018, Rihanna is a 49.99 percent shareholder in Project Loud France via her company Denim UK Holdings, which was incorporated five months earlier in the UK.” The article also notes that the brand has received close to €30m worth of “in-kind contributions” from Rihanna, with LVMH contributing “a total of €30 million in cash.”
According to the filings, reports BoF, “Project Loud’s purpose is the “conception, fabrication, distribution, commerce, importation and exportation” of products in a wide range of categories spanning clothing for men, women and children, footwear, eyewear, leather goods, sportswear, “goods linked to lifestyle,” high-tech products, office supplies, home decor and garden products.”
Garden products? If Rihanna’s past ventures are any indication, everything she touches turns to gold, so who knows—2020 might be the year millennials graduate from succulents and really start developing their green thumbs.