Rihanna's Fenty Fashion House and LVMH (Louis Vuitton Moët Hennessy) have reportedly reached a mutual decision to part ways, according to reports from both Women’s Wear Daily and Business of Fashion.
In a statement to WWD, an LVMH rep said the luxury fashion house, which owns the Louis Vuitton brand, "have jointly made the decision to put on hold the RTW [ready to wear] activity, based in Europe, pending better conditions."
The decision appears to be final, but, according to WWD, both LVMH and Rihanna "haven't ruled out taking a second run" at a partnership in the future.
Rihanna and LVM first unveiled the partnership in 2019. At the time, Rihanna called the partnership "an incredibly special moment" for the team.
"Mr. Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits," she said, referring to Bernard Arnault, chairman and CEO of LVMH Moët Hennessy.
"I couldn't imagine a better partner both creatively and business-wise, and I'm ready for the world to see what we have built together," she continued.
LVMH will reportedly focus on Rihanna's Fenty Beauty, Fenty Skin elements and Savage X Fenty lines.
LVMH is s home to 75 fashion brands.