COULD Rihanna be the Coco Chanel of the 21st century?

Moet Hennessy Louis Vuitton LVMH, the parent company of Dior, Givenchy and Fendi, may think so. Recently it announced that it has closed a deal to back her new Paris-based Fenty fashion brand, making her the first female designer of color at the largest luxury conglomerate in the world and marking the first brand launch by LVMH since Christian Lacroix in 1987.

The new Fenty label will present its first collection of ready-to-wear, shoes, jewelry, sunglasses and other accessories in Paris on May 22.

“Designing a line like this with LVMH is an incredibly special moment for us,” Rihanna said in an LVMH press statement. “Mr. Bernard Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits. 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.”

Arnault, chairman and CEO of LVMH, said, “Everybody knows Rihanna as a wonderful singer, but through our partnership at Fenty Beauty, I discovered a true entrepreneur, a real CEO and a terrific leader.”

(SD-Agencies)