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Paris-based LVMH - also the owner of Christian
Dior and Givenchy, among a host of other luxury brands also
spanning champagne and cosmetics labels - declined to comment.
It already has a partnership with the "Umbrella" singer in
make-up. Fenty Beauty, which was developed with Rihanna via
LVMH's Kendo "brand incubator", which promotes new products and
labels, has grown rapidly since launching in September 2017.
LVMH said last April it expected Fenty to reach $500 million in
retail sales in 2018 - which includes the revenue reaped by
third parties - though it has not given an update since.
The new Rihanna venture would include clothing, leather goods
and accessories, WWD said, citing sources with knowledge of the
launch. It said a collection could be released later this year,
though the timing was uncertain.
Run by billionaire boss Bernard Arnault, LVMH has more often
opted to grow through purchases, and it splashed out $3.2
billion at the end of last year to buy hotel owner Belmond in a
bid to branch into upscale hospitality.
In recent months it has also invested heavily in developing its
existing brands, however, including Celine, which has brought in
a new designer and launched into menswear in a bid to grow
revenues.
Luxury firms are facing headwinds including a potential slowdown
in key market China, and are jostling to stand out from the
crowd and attract younger shoppers by switching designers or
working with celebrities and social media influencers as part of
a marketing push.
(Reporting by Sarah White; Editing by Alexandra Hudson)
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