LVMH explores sale of its 50% stake in Rihanna-backed Fenty Beauty
Luxury goods giant LVMH is exploring a sale of its 50% stake in Fenty Beauty, which it co-owns with Grammy Award-winning singer and entrepreneur Rihanna, according to four people familiar with the matter. The post LVMH explores sale of its 50% stake in Rihanna-backed Fenty Beauty appeared first on Reuters Best.
Luxury goods giant LVMH is exploring a sale of its 50% stake in Fenty Beauty, which it co-owns with Grammy Award-winning singer and entrepreneur Rihanna, according to four people familiar with the matter.
Why it matters
Rihanna launched Fenty Beauty with the help of Kendo Brands, LVMH’s in-house beauty incubator. She and LVMH each own half of the company, sources said.
The post LVMH explores sale of its 50% stake in Rihanna-backed Fenty Beauty appeared first on Reuters Best.
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