A partnership that started in 2018 between Beyoncé and Adidas may soon come to an end! According to reports, the two have decided to part ways because of declining sales. A source close to the situation recently told a publication that the Grammy-winning entrepreneur and the German lifestyle brand have mutually agreed to part ways. Official confirmation of the same is currently awaited……CONTINUE READING...CONTINUE READING
For those unaware, Beyoncé entered a creative partnership with Adidas in 2018 and together they relaunched her Ivy Park activewear line and also developed new footwear and apparel.
According to a report by The Hollywood Reporter, there have apparently been major creative differences between Ivy Park and Adidas, and the 41-year-old singer-entrepreneur is reportedly looking to reclaim her brand, chart her own path and maintain creative freedom.
According to The Wall Street Journal, Beyoncé’s custom clothing line fell way below its 2022 sales projections of $250 million. The year closed at roughly $40 million for the brand.
The numbers were considerably lower than the brand’s 2021 tally of $93 million.
Beyoncé’s contract will be getting over at the end of this year. And, she is currently on track to earn her $20 million annual salary.
Beyoncé debuted Ivy Park in 2016 as a joint venture with Sir Philip Green of Topshop. Their 50-50 partnership ended in 2018, and Beyoncé gained full ownership of Ivy Park.
Back in January, Beyoncé previewed her latest Adidas x Ivy Park collaboration, Park Trail, in Dubai. A day later she was seen performing at a private concert in the city. It marked her first live show in four years.
So far, 2023 is going great for Queen B! Last month, she made history and became the most-awarded artist in Grammy’s history after winning her 32nd honour. In May, she will be launching her Renaissance World Tour in Stockholm. She will later perform through Europe, with stops in Cardiff, Edinburgh, Sunderland, Paris, London, Marseille, Amsterdam, Warsaw and more.
Beyoncé will also perform in North America with shows in Toronto, Vancouver, Atlanta, Las Vegas, Los Angeles, Boston, Charlotte, Detroit, Miami, Minneapolis, Nashville, Philadelphia, San Francisco, the New York City metro area and her hometown of Houston. She will wrap up the tour in New Orleans.
