As of 2019, Rihana’s net worth is estimated to be $260 million, making her one of the richest singers in the world.
And now, she is poised to increase her fortune as she makes the move into fashion, joining forces with luxury group LVMH to launch ‘Fenty’, her own brand of clothes, shoes and accessories, which is set to drop any day now.
Taking to Instagram on Friday, the pop star announced the news to her 70.5 million followers with a series of posts.
In the first, Rihanna shared a screenshot of a tweet from the style section of The New York Times explaining that she ‘will become the first woman to create an original brand at LVMH.’
The tweet continued, confirming that the star will be ‘the first woman of color at the top of an LVMH maison, and her line will be the first new house created by the group since Christian Lacroix in 1987.’
Alongside the screengrab, Rihanna wrote: ‘Big day for the culture. thank you Mr.Arnault for believing in this little girl from the left side of an island, and for giving me the opportunity to grow with you.
The second post from the star was simply the brand’s logo: White writing on a bright blue background.
The caption simply linked to the Instagram account for the fashion label, which has already racked up over 40,000 followers despite not having posted anything.
The label will be called Fenty, after the singer’s full name, Robyn Rihanna Fenty and LVMH said its launch was ‘fast approaching’ and due to land in spring 2019.
According to a statement given to WWD, the fashion line will be ‘centred on Rihanna, developed by her, and takes shape with her vision in terms of ready-to-wear, shoes and accessories, including commerciality and communication of the brand.’