Pop icon Rihanna announced last week that she will team up with French luxury giant LVMH to launch her own luxury fashion brand in spring, making her the first black women to head up a house for the famous firm.

The new luxury house will be called Fenty after her surname. Rihanna already has her own highly successful Fenty sportswear and Savage lingerie labels. The world's biggest fashion conglomerate LVMH, which is owned by Bernard Arnault, said the brand will be based in Paris and will make ready-to-wear clothes, shoes and accessories.

"Mr Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits," Rihanna said. "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."

Rumours have been rife for months that LVMH, which already owns iconic brands Fendi, Louis Vuitton, Dior and Givenchy, was assembling a group of top designers for the project.

On Friday Arnault confirmed the rumours, saying that LVMH had built up a "talented and multicultural" team to support Rihanna's newest brand.

With her huge fan base and massive social media following, Rihanna is one of the most powerful influencers on the planet, and a new large-scale luxury label, especially one led by a black woman, is a huge development in the fashion world.

Forbes magazine put the singer's net worth last year at $210 million.