Beyoncé & Adidas Have Reportedly Parted Ways Following Reports Of Ivy Park Underperforming
Beyoncé Giselle Knowles-Carter and Adidas are no more.
The 32-time Grammy Award-winning entrepreneur and the lifestyle brand have amicably decided to part ways, according to a source familiar with the situation. The sudden breakup may come as a surprise to some, considering the duo wasn’t supposed to sever the contract until after 2023.
Beyoncé and Adidas partnered creatively in 2018, during which time she relaunched her Ivy Park activewear clothing line and created new sneakers and apparel for the company.
However, it appears Ivy Park and Adidas had significant creative disagreements, and Beyoncé wants to reclaim her brand and forge her own path.
Beyoncé and Topshop’s Sir Philip Green collaborated on Ivy Park, which they unveiled in 2016. However, since 2018, the collection has been under Beyoncé after the joint endeavor with Topshop ended.
As previously reported, in February reports claimed that Ivy Park was underperforming, missing over $200 million in internal sales projections last year. The superstar’s clothing line reportedly made up to $40 million in sales in 2022, a $93 million reduction from 2021.
Beyoncé’s line with Adidas has produced weak sales, leaving a $200 million hole in the company’s annual projections
Sales of Ivy Park tumbled by more than 50% to about $40 million in 2022—coming in below internal Adidas projections of $250 million
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— Glock Topickz (@Glock_Topickz) February 8, 2023
Ivy Park was initially projected to sell for up to $250 million in 2022.
Adidas believed the brand would make up to $63 million in sales this year, which is lower than the initial $335 million projection.
The sportswear brand allegedly hoped to repeat the success they had while partnering with rapper and fashion designer Kanye West for Yeezy — a deal that abruptly ended last year due to the rapper’s antisemitic reputation. However, Adidas and Beyoncé’s team reportedly never came to an agreement on how they would market the sportswear, which reportedly played into the overall low sales.
What are your thoughts on Beyoncé and Adidas parting ways? Let us know in the comments!
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