The union between Rihanna and the LVMH group opens new perspectives for the luxury market

The luxury market was once again a subject in the world press on Friday, May 10, after the announcement of the consolidation of the partnership between the conglomerate LVMH and the singer Rihanna. According to the information provided, the brand Fenty will be the newest Maison of the luxury group and will have as its creative director the American pop star.

Rihanna said it is a “unique opportunity” to be able to develop a fashion brand in the high-end segment without any artistic limits. Bernard Arnault, the group’s CEO, said that a “talented and multicultural team” will be built that will use the organization’s diverse resources to support the singer in her new endeavor in the business world.

It is no exaggeration to think that the partnership between Rihanna and the LVMH group opens up new prospects and paths for the luxury market in general. In addition to demonstrating that institutions whose main characteristic is tradition can also invest in innovative projects without losing their essence, the union further expands the debate regarding the democratization of the segment. Rihanna will be the first black woman to manage a brand in the organization, a fact that proves the breaking of a true paradigm within the institution.

Another aspect that can not fail to be analyzed is the importance that the new generations currently have as consumers of luxury goods and goods. Several researches in the field indicate that younger consumers tend to grow significantly in the luxury market, and thus joining forces with a personality that interacts directly with that portion of society is important both in the present and in the future of business .

Fenty will be part of a group that holds the command of brands such as Givenchy, Dior and Fendi, that is, some of the main icons of world luxury. Bringing vitality, energy and a possibly more artistic than corporate vision for the fashion segment, the singer has everything to make history and, perhaps, contribute to the consolidation of new partnerships in the future of the sector.