Last month, news first broke that Rihanna was reportedly launching a new luxury label with LVMH. The news comes following the success of Fenty Beauty — which is already backed by the LVMH-owned Kendo — and would mark the first new label launched by the luxury conglomerate since Christian Lacroix back in 1987.
According to reports from Business of Fashion, the project now has a name and has received funding. The information seen by BoF reveals that the label will be titled Project Loud France — a reference to Rihanna’s 2010 album, Loud – and around €60 million EUR of funding (approx. $68 million USD), split almost equally between Rihanna and LVMH. Rihanna is also reported to be a 49.99 percent shareholder in the new venture, through her Denim UK Holdings company.
The documents obtained by BoF reveal that Project Loud may cover menswear, womenswear, kidswear, footwear, eyewear, leather goods and sportswear, with listings also referencing everything from office supplies to garden products. Keep an eye out for more details about the project over the coming months.
In other fashion news, Kiko Kostadinov, Paria Farzaneh and Bode are amongst this year’s LVMH Prize nominees.
- business of fashion