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Although an unprecedented move for LVMH, Rihanna’s new venture in luxury fashion is less surprising when you consider her credentials in both the beauty and fashion industries and her undeniable influence on millennials and Gen Z consumers, who have emerged as the driving force behind the growth of the luxury market in recent years.
Despite her stardom, she has an authenticity about her that really speaks to the modern consumer – as demonstrated by the continued success of her Fenty beauty brand and Savage X Fenty lingerie brand with their unapologetic focus on diversity and inclusivity. In a fast-evolving market, where many established brands are struggling to maintain relevance, Rihanna has succeeded because she is relatable and she’s catering to a consumer base that has been underserved for far too long.
Luxury players have recognised just how important the millennial consumer is, as evidenced by Marco Bizarri’s millennial shadow committee at Gucci, Moncler’s Genius project and Virgil Abloh’s tenure at LVMH-owned Louis Vuitton.
Rihanna’s Fenty fashion house is simply the latest development in the new era of luxury.