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.