Oh, and it has been estimated that the beauty giants paid her a HUGE $10million to do so.
Seriously. Our eyes are watering.
The Work singer is famed world-wide for her strong beauty looks including cobalt blue lips, feline flicks and faux beauty marks (think Met Gala 2015!) so joining forces with her to create a make-up line, which will no doubt be full of colour, was a complete no brainer for LVMH.
According to WWD the make-up line - due in autumn 2017 - will be named Fenty Beauty (Fenty is RiRi's second name, FYI) and it is said to be super, super diverse. Well, we expected nothing less.
Just to put Rihanna's new venture into perspective, the LVMH umbrella includes high-end brands such as Dior, Celine, Fendi, Givenchy and Louis Vuitton - all big (OK, major) deals in the fashion and beauty sphere!
The star is no stranger to collaborations though, as she has already teamed up with M.A.C to bring us a stunning Viva Glam lipstick, which saw Miley Cyrus and Ariana all follow suit, but we reckon no-one will be able to top this news.
Are we right or are we right?!
Chief executive officer of LVMH's Kendo division David Suliteanu told WWD of the collaboration, "Fenty Beauty by Rihanna is a beauty rocket ship that will appeal to a huge and diverse global audience," but kept pretty mum about swatches and exact products.
Of course, we'll be keeping our eyes and ears peeled for you, so watch this space!
For exclusive competitions and amazing prizes visit Reveal's Facebook page NOW!