Photo Credit: Adidas/Ivy Park
Beyoncé & Adidas Officially End Their Partnership
After reports of declining Ivy Park sales, Beyoncé and Adidas have ended their creative partnership of nearly five years.
Beyoncé and Adidas are no more. On Thursday (March 23), The Hollywood Reporter broke that the Renaissance artist has parted ways with Adidas, where she relaunched her athleisure line Ivy Park in 2018. The partnership began two years after the 32-time Grammy-winner initiated Ivy Park with Sir Philip Green of Topshop in a 50-50 deal.
Beyoncé, legal name Beyoncé Knowles-Carter, discussed the revamping of Ivy Park with ELLE in early 2020, ahead of the release of the line's spring collection.
"I love experimenting with fashion, mixing high and low, sportswear with couture, even masculine and feminine. This new line is fun and lends itself to creativity, the ultimate power."
In February of this year, The Wall Street Journal reported that Ivy Park would see $63 million in sales this year despite an earlier projection of $335 million. In 2022, the clothing line made roughly $40 million in sales, a decline from $93 million in 2021. Due to the 2022 loss, to which Adidas projected to $250 million in sales, the German sportswear company stands to lose $10 million.
As the deal between Ivy Park and Adidas was expected to end in 2023, Adidas executives had discussed revamping the line, hoping to replicate the success of Kanye West's Yeezy brand, which ended last year. A new Ivy Park collection, named Park Trail, dropped last month and Knowles-Carter is slated to earn $20 million from Adidas, just as she has in previous years. This summer, the vocalist will embark on the Renaissance World Tour.