- Kristopher Fraser |
LVMH is doing their best to keep the news of Rihanna's latest label under wraps, but when you're one of the most watched fashion icons in the music business, those efforts are futile. Fashion Network has reported that the luxury conglomerate has quietly created an under-the-radar company called Project Loud, which is allegedly the fully fledged fashion house under Rihanna.
Project Loud was originally registered as a shell company back in 2017. In December 2018, LVMH injected 60 million euros of capital into the company. Prior to that, Project Loud's equity was just 37,000 euros.
Interestingly enough, LVMH's Project Loud is headquartered at 24 rue Jean Goujon, in the 8th arrondissement of Paris. This is the location of LVMH's fashion group, which oversees Givenchy, Fendi, Kenzo, Loro Piana and Pucci. Jean-Baptise Voisin, a senior LVMH executive, is also the president of Project Loud.
Rihanna is no stranger to working with LVMH either. It was Kendo, LVMH's beauty incubator program, that helped her launched her Fenty beauty line, which has become a global success. In one month, the brand earned 72 million dollars. LVMH chairman Bernard Arnault said that the Fenty Beauty brand reached sales of 500 million euros in 2018.
LVMH has declined to comment on any business surrounding Project Loud.
Although LVMH regularly funds new companies, including plans to fund a new fashion line by Louis Vuitton creative director Nicolas Ghesquière, the name would heavily imply that this is the fashion brand they have been working on with Rihanna.
As reported by Fashion Network, In September 2018, Roraj Trade LLC, the LA-based owner of Rihanna’s multiple trademarks, made a mass registration of over 100 product categories and services for Fenty with the National Institut of Industrial Property, France’s national intellectual property office – covering China, the European Union, Japan, Korea and Singapore.
Rihanna's Fenty x Puma line was an enormous success. Puma's Q3 2017 sales saw a 23 percent increase thanks to the line.
If Project Loud is anything like Fenty Beauty and Fenty x Puma, LVMH could be looking at another cash cow on their hands to add to their portfolio of already incredible brands.