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Fashion April 18, 2019
By Snobette
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Fashion

LVMH CEO Won’t Discuss Rihanna Label Launch Because He Likes Surprises

lvmh-rihanna

April 18, 2019. 1 Comment

Following yet another successful earnings report last week, LVMH CEO Bernard Arnault on Thursday (April 18, 2019) led an annual investor’s meeting in Paris where he discussed the company’s results and took questions from attendees.

When asked about rumors LVMH was in the midst of launching a new brand headed by Rihanna, the CEO, as he has when previously asked, took a coy approach.

“I like the fact that you’re interested in this singer. I share, I do think she’s an extraordinary singer,” said Arnault. “But we like surprises. And we will keep it under wraps for now.”

According to French accounting firm Ledouble, LVMH has invested 30 million euros in the project, whose working title is Project Loud France, while Rihanna has invested 29,988,000 euros of her own money into launch. LVHM has also appointed Jean-Baptiste Voisin as brand president.

Recently, Rihanna was spotted attending an event in what appeared to be a first look at a Fenty clothing design.

Fashion News Rihanna Bernard Arnault LVMH

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Scathing 5,400-word report via The Cut's Tahirah H Scathing 5,400-word report via The Cut's Tahirah Hairston on Kerby Jean-Raymond whose label Pyer Moss appears to no longer be operational. 

Check out an excerpt below. 

Ten years in, Jean-Raymond’s star has only risen. He hangs out with celebrities (Tracee Ellis Ross, Brent Faiyaz), made a cameo on Insecure, and drives flashy cars (a McLaren 720S, an Aston Martin Superleggera, a Porsche GT3 RS). Meanwhile, his brand is nearly nonexistent.

There is no Pyer Moss boutique. The clothing celebrated on the runway was mostly not available to anybody who didn’t have a celebrity stylist to pull it for them, and company insiders complained that quality control was so uneven that at times what was produced was too flawed to be sold. Jean-Raymond sometimes missed deadlines, didn’t always pay bills, started other projects, and alienated allies. He referred to Pyer Moss as an “art project” and seemed reluctant to make practical choices. Among the fashion insiders who had cheered his rise, there has been a growing feeling that he has wasted an opportunity to build something important.

The last straw for many of his early supporters was his couture show in July 2021. Titled “WAT U IZ,” and put on in the U.S. during Paris Couture Week, it was a tribute to the various innovations that Black people have been responsible for, often without credit. The models came down the runway decked out in a jar of peanut butter and a traffic light. A lot of it wasn’t really clothing, much less couture. Even if the professional critics and other members of the fashion press seemed hesitant to publicly express their disappointment, they whispered among each other that he’d lost the plot of his brand.
It's official! #Nike and #TiffanyAndCo have a "Leg It's official! #Nike and #TiffanyAndCo have a "Legendary Pair" dropping soon!
London-based South Korean designer, Sohee Park pre London-based South Korean designer, Sohee Park presented her Couture spring 2023 collection in Paris for the first time.

For her Paris debut, the Central Saint-Martins alum presented an assortment of ornate gowns where drama and glamour came to shine.

Neck-breaking angelic walk courtesy of model Sokhna Niane @sokhnaforreal 🔥
In sad news, Kering hasn't realized its mistake an In sad news, Kering hasn't realized its mistake and brought back Alessandro Michele (kidding but not really). Instead it's announced the appointment of Sabato De Sarno as Gucci creative director. De Sarno will present his debut runway collection at Milan Women’s Fashion Week in September 2023.

The 39-year-old Sabato De Sarno was raised in Naples, Italy. He began his career at Prada in 2005, moving to Dolce & Gabbana, before joining Valentino in 2009, where he eventually was appointed fashion director of men’s and women’s collections.

De Sarno's resume is no joke, so we look forward to seeing what he brings to the table and will do our best to not hold it against him that he replaced Michele. That's on Kering.
French luxury conglomerate LVMH announced earnings French luxury conglomerate LVMH announced earnings yesterday and noted that Fenty Beauty doubled its revenue in 2022 versus the prior year. In an earnings release the company attribued the growth to "expansion of its distribution network and the success of its launches." 

First launched with LVMH's beauty brand incubator Kendo in 2017, Fenty's growth over the past several years has largely been fueled by global expansion. 

Comnenting on Fenty Beauty's first forray into Asia, CEO Rihanna in 2019 stated on social media, "When I launched @fentybeauty in 2017, it was important to me to make sure it was available globally so everyone had access to it. We are continuing to expand our Fenty Beauty family to Hong Kong, Macau, Seoul and Jeju in September!”

While LVMH didn't provide 2022 Fenty Beauty revenue figures, it announced the beauty brand brought in $573M in revenue in 2018. Forbes in 2021 valued the entire operation as worth $2.8 billion, of which 50% belongs to Rihanna.
The purveyor of consistent heat, Casey Cadwallader The purveyor of consistent heat, Casey Cadwallader's #Mugler fall 2023 runway show in Paris, gave what it's supposed to give. Excellent casting featuring #Ziwe, Amber Valetta, Debra Shaw, Omahyra Mota, Paloma Elsesser, Anok Yai, Dominique Jackson, Maria Carla and more! Badass energy, bold pieces in leather, lace and some denim.

We think Thierry Mugler would be pleased✨
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