Beyonce and adidas have mutually agreed to part ways. The split comes due to reported creative differences regarding the singer’s activewear line, IVY PARK.
In 2018, Beyonce entered into a creative partnership with the German sportwear company, where she relaunched IVY PARK and developed new apparel and footwear for the brand. The mutual agreement to part ways is also a consequence of the line’s plummeting sales in recent months. According to reports, Ivy Park clothing sales plummeted by 50 percent, bringing in just $40 million in 2022 compared to $93 million in 2021.
At the time, IVY PARK was projected to bring in well over $250 million in sales last year. The singer is now looking towards gaining full ownership and creative control of IVY PARK, and steering it in a new direction.
However, this is not the first time Beyonce has aquired full ownership of her clothing line. In 2016, IVY PARk was founded as a joint venture with Sir Philip Green of Topshop. This partnership later ended after the billionnaire businessmen went into dispute.
In January this year, Beyonce dropped her latest IVY Park collection, Park Trail, in Dubai a day before she performed her first concert in four years. She is also gearing up to kick off her highly anticipated Renaissance World Tour in May.
Last month, she made history by becoming the most awarded artist in Grammy’s history after winning her 32nd accolade.
Source: People
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