Adidas/Ivy Park
Beyoncé and Adidas are no longer working together on her Ivy Park athleisure brand, the Wall Street Journal report. An unnamed source told The Hollywood Reporter that the split was mutual, with "creative differences" cited as the reason behind the decision. Beyoncé is excited to “reclaim her brand, chart her own path and maintain creative freedom,” they said.
However, the Wall Street Journal spoke to sources who claim that poor sales figures are behind the termination of a relationship that began in 2019. According to those sources Adidas had hoped Ivy Park would provide sales similar to Kanye West's Yeezy brand but struggled to meet expectations with "roughly half of the merchandise from five of the six releases remaining on shelves." Sales projections for 2022 were reportedly $250 million, of which Ivy Park was predicted to reach $40 million. The WSJ also alleges a difference in opinion between Adidas and Ivy Park’ over the marketing of the brand.
Beyoncé originally launched Ivy Park in 2016 with Topshop impresario Philip Green before taking sole ownership after he was accused of sexual harassment and bullying by multiple employees. Adidas ended their own lucrative business relationship with Kanye West in October 2022 after Ye made a series of antisemitic remarks.
This summer Beyoncé will embark on her Renaissance world tour. In February she entered the record books as the artist with the most Grammy wins in history.
