LVMH and Rihanna prepare to make history
Rihanna is more than just a pop star – she’s a global brand in-and-of herself. The singer and fashion icon has carved out a unique place in popular culture, and has a devoted following of fans. Now, she might be about to make history by becoming luxury titan LVMH’s first ever female designer of colour. And, while she doesn’t have any formal fashion credentials, she brings a lot of other things to the table: 14 number one hit singles, 67 million Instagram followers, and experience working with brands like Kering and Dior.
LVMH’s share price has declined by 1% this year, as investors fret about China’s demand for luxury goods
Source: Yahoo Finance
Rihanna (full name Robyn Rihanna Fenty) has been associated with the fashion industry from early on in her career. She sang at a Gucci fundraiser before anyone knew who she was, and by 2014, she was named fashion icon of the year at the Council of Fashion Designers of America awards. In the same year, she became creative director at Puma (starting her own ‘ready to wear’ brand when the label was still owned by Kering), and in 2015, she was the face of Dior’s Secret Garden scent. Her Fenty Beauty line is widely considered innovative, and was featured on Time Magazine’s list of 25 best inventions of 2017.
If Rihanna has a lot going for her, so does LVMH. The world’s biggest luxury conglomerate counts names like Vuitton, Dior, Givenchy and Guerlain in its portfolio of brands. However, one thing LVMH has never had is a female designer of colour. If talks continue positively, that may be about to change. And they could do a lot worse than pick one with 67 million Instagram followers.
Dominion holds LVMH in its Global Trends Luxury Brand.
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