Adidas had a million-dollar loss after cutting ties with Kanye West after several anti-Semitic statements by the rapper. Now, The company has decided to separate from Beyonceaccording to reports from The Hollywood Reporter.
The news of the alleged separation comes almost two months after Sales of the Renaissance singer’s Ivy Park clothing line plummet 50 percentgenerating just $40 million in 2022. In 2021, the brand generated $93 million.
Previously, the Wall Street Journal reported that Beyoncé’s line was projected to generate more than $250 million in sales last year. However, “In five of the last six Ivy Park launches, about half of the merchandise that was produced didn’t sell,” reported the hollywood reporter. The outlet added that the clothing and shoe line was “losing money for Adidas.”
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The origin of Ivy Park
Beyoncé, 41, originally launched Ivy Park with Topshop in 2016. However, in 2018, the singer acquired 100 percent of the brand of British billionaire Philip Green’s company after he faced accusations of sexual harassment, bullying and racism.
The following year, the singer of ‘Drunk in Love’ partnered with Adidas to launch an inclusive unisex line that catered to both men and women. “This new line is fun and lends itself to creativity, maximum power”, BEyoncé told Elle in January 2020. “I focused on designing a unisex footwear and clothing collection because I saw a lot of men at IVY PARK. The way they have embraced the brand is an unexpected gift. I appreciate the beauty of gender neutral clothing and breaking the so-called fashion rules.”added
The line featured various styles for adults and children, including leggings, hoodies, dresses, socks, sports bras, and sneakers in sizes XXXS to XXXXL.
Beyoncé unveiled her latest Ivy Park release, called Park Trail, in January. The collection featured bright orange, blue, and camo pieces for kids, men, and women. The singer also chose Ice Spice to appear in the line’s campaign.
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Beyoncé and Adidas part ways after Ivy Park sales drop