Rihanna‘s Fenty fashion label has been shut down by luxury goods group LVMH after less than two years, it has been confirmed.

However, the singer’s cosmetic lines – Fenty Beauty and Fenty Skin – will still continue alongside the Savage X Fenty lingerie line.

In a statement, LVMH said that Fenty’s clothing line would be “put on hold” in anticipation of a better financial climate.

According to the BBC, fashion analysts have said that the label’s prices were far too steep for the majority of Rihanna’s fanbase.

Rihanna made history as the first woman of colour to launch a fashion house under the LVMH brand when Fenty first launched in spring 2019.

But no new collections have materialised since November last year, which sparked initial speculation over the brand’s future.

It comes as fans continue to anticipate a new musical release from the singer, having not released an album since 2016’s ‘Anti’.

In December 2020, she told fans that she is “always working” on music during lockdown.

She added: “2021 is a little unknown for everybody and nobody is sure what restrictions there are going to be. My creativity is within my control though, and I want to take my music and my brands to a different level.”