Written by Emily Dixon, CNN

It might be time to open a savings account dedicated to Rihanna: on Friday, she announced the launch of a luxury fashion line with LVMH, the conglomerate that's also home to Dior, Louis Vuitton and Fendi, among many others.

Fenty, set to debut this spring, is the latest of Rihanna's business ventures, joining her industry-changing cosmetics brand Fenty Beauty and lingerie brand Savage X Fenty, which launched in 2017 and 2018, respectively.

In the past two years, Rihanna has also launched beauty brand Fenty Beauty and lingerie brand Savage X Fenty. Credit: Evan Agostini/Invision/AP

According to a press release , the new luxury house "is centered on Rihanna, developed by her, and takes shape with her vision in terms of ready to wear, shoes and accessories, including commerciality and communication of the brand."

Rihanna, the New York Times reported , "will become the first woman to create an original brand at LVMH, the first woman of color at the top of an LVMH maison, and her line will be the first new house created by the group since Christian Lacroix in 1987."

In a statement, she said: "Designing a line like this with LVMH is an incredibly special moment for us. (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," she continued.

Rihanna also shared the new brand's logo on Instagram, writing : "Big day for the culture. thank you Mr.Arnault for believing in this little girl from the left side of an island, and for giving me the opportunity to grow with you at @LVMH . This is proof that nothing is impossible. Glory be to God."

Arnault, chairman and CEO of LVMH, said in a statement: "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. She naturally finds her full place within LVMH."

"To support Rihanna to start up the Fenty Maison, we have built a talented and multicultural team supported by the Group resources. I am proud that LVMH is leading this venture and wish it will be a great success," Arnault said.

Rihanna's Savage X Fenty lingerie line has been praised for its inclusivity. Credit: Brian Ach/Getty Images North America/Getty Images for Savage X Fenty

Rihanna's Fenty Beauty cosmetics line challenged an industry that often excludes women of color by debuting with 40 foundation shades, later expanded to 50. She wrote on her website: "Fenty Beauty was created for everyone: for women of all shades, personalities, attitudes, cultures, and races. I wanted everyone to feel included."

Her lingerie line, Savage X Fenty, has also been applauded for offering underwear that matches a range of skin tones and caters to plus-size body types, while the brand's runway show and ad campaigns have similarly prioritized inclusivity.

The Fenty maison won't be Rihanna's first full clothing venture, either. In 2014, she became creative director of Puma, releasing a series of acclaimed Fenty x Puma clothing and footwear collections. Before that, she created three collections for British store River Island.