With Rihanna bailing on the Met Gala this year, rumors were abuzz regarding her whereabouts, strange doings. The Bajan pop darling is evidently a perennial contender for "best look" honors, a distinction that bears as much significance as a loot bag to an ungrateful five-year-old. The Met Gala is a glorified costume party, and Rihanna was wise to skip the event and give herself a little breathing before her big announcement this morning.

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As of this writing, Rihanna and LVMH, aka the Moët Hennessy – Louis Vuitton holding company, have announced a new Fenty fashion label simply titled FENTY. This makes Rihanna the very first woman to establish an original brand with LVMH. Rihanna also holds the distinction of being the first woman of color to do so - and for added context: FENTY, as predicted by industry experts in January, is indeed the first original brand established by LVMH since Christian Lacroix debuted in 1987. Normally the consortium just absorbs smaller labels like a giant jellyfish.

“Designing a line like this with LVMH is an incredibly special moment for us," Rihanna, 31, expressed in a statement. “Mr. 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."

Best of luck to Rihanna in all her endeavors. Just last month, she submitted "Fenty Skin" for trademarking, so we should expect a few additional announcements in the coming months, including details on that album she allegedly dusted off.