It looks like one of the most unexpected beauty partnerships might be coming to an end. Reports are swirling that LVMH, the French luxury giant behind brands like Louis Vuitton, Dior, and Tiffany & Co., is considering selling its 50% stake in Fenty Beauty, the wildly successful cosmetics brand co-founded with global superstar Rihanna.
According to Reuters, LVMH has tapped investment bank Evercore to explore a potential sale, with insiders estimating that Fenty Beauty could be valued between $1 billion and $2 billion. Neither LVMH nor Rihanna’s team has commented publicly on the rumours, but if true, this could mark a major shift in both the luxury and celebrity beauty landscape.
Wait — who exactly is LVMH?
If you’ve ever walked past a Louis Vuitton shop or sprayed a bit of Dior perfume, then you’ve encountered the LVMH empire without even realising it. LVMH stands for Moët Hennessy Louis Vuitton, a massive French luxury conglomerate that owns over 75 high-end brands across fashion, beauty, jewellery, and even champagne. It’s the powerhouse behind some of the world’s most glamorous names.
While LVMH has dominated fashion and fine goods for decades, its beauty division, which is home to brands like Sephora and Benefit Cosmetics, hasn’t been growing as explosively as other parts of its business. So, selling its share in Fenty Beauty might be part of a broader strategy to streamline its portfolio and refocus on other areas.
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How Fenty Beauty changed beauty as we know it
When Rihanna launched Fenty Beauty in 2017, in partnership with LVMH’s beauty incubator Kendo Brands, the beauty industry was never the same again. Her mission was to create makeup that actually worked for everyone, regardless of skin tone.
At a time when many brands offered limited shade ranges, Fenty Beauty came out swinging with 40 foundation shades (later expanding to 50+), celebrating inclusivity and diversity in a way that felt long overdue.
That bold move, slowly but surely over the years, won Rihanna awards and admiration, and also inspired other celebrity-led labels like Selena Gomez’s Rare Beauty, Hailey Bieber’s Rhode, and Ariana Grande’s r.e.m. beauty to join the booming industry.
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Why LVMH might be selling now
Reports suggest LVMH is re-evaluating its beauty portfolio, following a similar move by rival Kering, which recently sold its beauty division to L’Oréal. While Fenty Beauty continues to perform well, reportedly earning around $450 million in net sales in 2024, LVMH’s overall cosmetics arm has seen steady but not spectacular growth.
Selling Fenty Beauty could free up resources for LVMH to invest elsewhere, perhaps in areas where it sees faster or more consistent returns. Meanwhile, Rihanna, who already holds the other 50% stake, could gain greater independence over the brand’s direction or even bring in new investors.
What this could mean for Rihanna and the beauty world
If this sale actually happens, it wouldn’t mean the end of Fenty Beauty (far from it). Rihanna has built a multibillion-dollar beauty empire that now includes skincare, haircare, and fragrance, all sold through major retailers like Sephora and Amazon.
In fact, this could be the start of a new chapter for the brand, one where Rihanna takes even more control. Considering how quickly celebrity beauty brands are changing hands, with Rhode recently selling to e.l.f. Beauty for $1 billion, the timing isn’t all that surprising.
Still, for fans of both Fenty Beauty and luxury beauty gossip, this story is one to watch closely. After all, it’s not every day the world’s biggest luxury group considers parting ways with one of its most inclusive and iconic success stories. If LVMH sells or stays, Fenty Beauty isn’t going anywhere.
