In 2018, Beyonce collaborated with Adidas to revive her athleisure brand, Ivy Park.
However, sources tell The Hollywood Reporter that Beyoncé and the sportswear giant have mutually decided to part ways.
The split apparently resulted from creative disagreements between Ivy Park and Adidas, as Beyoncé was eager to regain control of her brand, set her own direction, and preserve her creative independence.
Adidas had promised Beyonce “guaranteed annual fees and creative control” when they teamed up in 2018 to revive Ivy Park, but it seems that the collaboration did not live up to the sportswear company’s expectations. In February, The Wall Street Journal reported that despite the glitzy marketing, Ivy Park’s sales did not generate the hundreds of millions of revenue Adidas had hoped for. The brand’s releases underperformed, with half of the merchandise from five out of six releases remaining unsold.
The article also revealed that Adidas and Ivy Park had differing marketing strategies, with Adidas pushing for its own branding. Ivy Park’s sales were predicted to reach $40 million at the end of 2022, down from $93 million the year before, while Adidas was expected to lose at least $10 million that year. However, Beyoncé’s compensation remained the same as in previous years, at $20 million.
Beyoncé launched Ivy Park in 2016
Beyoncé launched Ivy Park in 2016 with Top Shop owner Sir Philip Green, but after their partnership ended in 2018, Beyoncé’s Parkwood Entertainment took full ownership of the streetwear brand.
Moreover, Despite the split from Adidas, Beyoncé has much to look forward to with her upcoming Renaissance World Tour, set to begin in May, which has already caused a frenzy among fans eager to see the superstar in person. The tour will kick off in Stockholm and include dates across Europe and North America.
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Pavan Manzoor is an experienced content writer , editor and social media handler along with a track record of youth-oriented activities in Pakistan and abroad. She was selected as a fully-funded delegate as a leadership fellow in Turkey. She also led a team of 5 volunteers at the week-long Young Professionals Fellowship in Maldives. She is also a member of the Youth Standing Committee on Higher Education.
