Beyoncé and Adidas Agree to Terminate Ivy Park Partnership – According to a source close to the matter who spoke to The Hollywood Reporter on Thursday, Beyoncé and Adidas have apparently decided to end their partnership for the Ivy Park brand, which was mutually agreed upon. The reason behind this decision is said to be creative disagreements between the music superstar and the sportswear company regarding the brand’s direction.
The Wall Street Journal previously reported that Adidas had a shortfall of $200 million in their annual projections due to low sales of their athleisure brand. The article noted that sales for the brand fell by over 50%, generating only $40 million out of the expected $250 million. Despite this, Beyoncé still earned $20 million in commission.
Following the conclusion of her joint venture with Topshop’s Sir Philip Green, the Renaissance singer initiated a creative partnership with the German brand in 2018. After severing ties with the British mogul in a 50-50 partnership, Beyoncé approached Adidas, who aimed to emulate the triumph of its collaboration with Kanye West’s Yeezy and expand its collaborations by collaborating with more female artists.
In January of this year, Beyoncé gave a sneak peek of her latest collection, Park Trail, in Dubai, a day prior to her performance at the lavish grand opening of Atlantis the Royal, her first live show in four years. Shortly after the news of her split with Adidas, the singer revealed a fresh fashion collaboration with Balmain. On Friday, she disclosed her 17-piece couture collection with the fashion house, inspired by the Renaissance, which she co-designed with Olivier Rousteing (the label’s creative director) and her stylist, Marni Senofonte.
The news of Beyoncé and Adidas terminating their Ivy Park partnership may come as a surprise to many fans and consumers, especially given the brand’s initial success. However, as with any business partnership, creative differences can arise, and it appears that this was the case for Beyoncé and Adidas.
Despite this setback, Beyoncé continues to be a force in the fashion industry, as evidenced by her new collaborations with Balmain and her latest couture collection. As her career continues to evolve, we can only anticipate what exciting new ventures she will embark on in the future.